Delay In Large Orders, Lower Inpatient Census To Ail Masimo's Q2 Results, Analyst Lowers Estimates
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mike Matson has lowered his price target for Masimo Corporation (MASI) from $207 to $136 due to delays in large orders, lower inpatient census, and elevated inventory levels. The company's Q2 2023 preliminary results show expected revenues of $453 million-$457 million, lower than the consensus of $553.23 million. Matson also lowered 2023 and 2024 revenue and EPS estimates. Despite this, he believes new product launches and market share gains should enable continued growth in Masimo's medical unit.
July 18, 2023 | 5:56 pm
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NEGATIVE IMPACT
Masimo Corporation's stock price may be negatively impacted due to lowered price target and revenue estimates by Needham analyst. However, new product launches and market share gains could drive growth.
The lowered price target and revenue estimates by the analyst indicate a negative outlook for the company's financial performance, which could lead to a decrease in the stock price. However, the potential for growth through new product launches and market share gains could mitigate this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100