Masimo has shown promising growth during 2020 despite the serious pandemic hit.
Shares of the American manufacturer of non-invasive patient monitoring technologies, Masimo Corp. (MASI) are going down, as we write this on Friday. So far, MASI has plunged over 1.42% to $253.90. Masimo shares have dipped from $283.75 on Jan. 8 to as low as $251 on Jan. 27.
After a healthy bullish run from the past six months, MASI seems to cover up and aims for the recovery point. However, Masimo has enough bulls to push the stock up again in the long-term. This may be a good time as the stock drops and creates an entry point for experienced investors.
What’s Happening?
The company will discuss the complete fourth quarter and full-year 2020 financial results after the closing of the market on Feb. 23, 2021. Though it has released preliminary results for the past year, which are quite encouraging.
The full-year 2020 revenues are anticipated between $1.139 billion and $1.144 billion, which means a forecasted growth of 21.6% to 22.2%. The company expects the total non-invasive technology board shipments to be around 472K during last year. While the GAAP and non-GAAP earnings per diluted share are predicted to cross financial guidance of $3.77 and $3.46 per diluted share, respectively.
Masimo Corp. (MASI) also updated the full-year 2021 outlook in the preliminary results of last year. The revenue for 2021 is forecasted to cross $1.2 billion, which would be almost 5% higher than 2020’s expected revenue. So, the company is on the right track and the potential growth of earnings per share and revenues would support the stock in the long-term.
On the business side, the company recently announced the global launch of its iSirona™. Masimo’s compact and versatile connectivity hub, iSirona, is developed to increase interoperability across the continuum of care. iSirona would help in storing offline data online giving a smooth data flow, ultimately, helping clinicians improve patient care.
For investor’s note, Masimo’s latest Hospital Automation platform is a future-focused connectivity solution that would secure data flow and ensure interoperability in hospital systems. Thus, this new addition will diversity the product line of Masimo and accelerate the revenue growth in the years to come.
Conclusion
Though Masimo Corp.’s stock might continue to plunge in the near-term, the long-term prospects are rock solid. The company would attract more demand for its new connectivity hub in the coming years. The future outlook is also positive that would drive the stock as we head forward.
