Masimo reports Q3 adjusted EPS 63c, consensus 59c

Reports Q3 revenue $478.9M, consensus $498.85M. Joe Kiani, Chairman and Chief Executive Officer of Masimo, said, “Our performance for the third quarter was within our guidance range communicated last quarter. That said, our healthcare business is navigating a clear transition away from COVID-era conditions. We are beginning to see that customer behavior and sensor purchasing patterns are shifting back to the pre-pandemic growth trend line we saw from 2017 to 2019. Together with our record contracting performance through the third quarter, this reinforces our conviction in the underlying long-term growth rate for our healthcare business. As we emerge from this transition year, these trends, along with our new product launches and rapid growth in our hearables category, are setting the stage for a strong 2024.”