Masimo: 3Q Earnings Snapshot

October 30, 2019 GMT

IRVINE, Calif. (AP) _ Masimo Corp. (MASI) on Wednesday reported third-quarter profit of $49.1 million.

On a per-share basis, the Irvine, California-based company said it had net income of 86 cents. Earnings, adjusted for pretax gains, were 76 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The medical technology company posted revenue of $229 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $220.9 million.

Masimo expects full-year earnings to be $3.18 per share, with revenue expected to be $933.4 million.

Masimo shares have risen 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $147.42, a climb of 28% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MASI at https://www.zacks.com/ap/MASI