Masimo Stock Tanks 26% On Q2 Revenue Outlook

(RTTNews) - Masimo Corporation (MASI) Monday after it issued revenue outlook for the second quarter, sending its shares down over 26% in extended session.

Moving ahead, Masimo expects its revenue for the second quarter 2023 to range from $453 million to $457 million, with healthcare revenue expected to range from $280 million to $282 million and non-healthcare revenue expected to range from $173 million to $175 million.

Analysts polled by Thomson Reuters expected revenues of $553.23 million for the quarter.

The company said expects to reduce the lower end of full year revenue guidance for the healthcare business to $1.30 billion from $1.45 billion. Masimo added that is still evaluating the upper end of revenue guidance for the healthcare business, but it could be materially higher than the lower end of the range. The company also expect to reduce annual revenue guidance for the non-healthcare business to $800 million to $850 million from $965 million to $995 million.