reports first-quarter earnings Monday as shareholders await the close of ’s $9.9 billion acquisition, a deal that will mark the medical-device maker’s final results as an independent public company.
Analysts expect Masimo to post earnings of $1.43 per share on revenue of $398.65 million for the quarter ended in March, representing year-over-year growth of 5.2% and 7.2%, respectively. The expected profit would mark a sharp reversal from the prior quarter’s loss of $0.18 per share, though revenue is forecast to decline sequentially from $412.5 million.
The Irvine, California-based company, which specializes in noninvasive patient monitoring technologies including pulse oximetry, agreed in February to be acquired by Danaher for $180 per share in cash. Shareholders approved the transaction on May 1, and the deal is expected to close in 2026 pending regulatory clearances.
Masimo shares closed Friday at $178.64, trading slightly below the offer price and near their 52-week high of $179.00. The stock carries a Hold rating from all eight analysts covering it, with a consensus price target of $180.00—implying minimal upside of 0.7%. The uniform Hold ratings reflect limited room for movement given the pending all-cash acquisition.
Analyst sentiment has cooled in recent months. EPS estimates have declined 5.7% over the past 60 days, though they’ve stabilized over the past week. Revenue estimates have similarly edged down 1.5% over two months before flattening recently.
Jefferies analyst Matthew Taylor raised his price target to $180 from $168 in April while maintaining a Hold rating, noting the acquisition values Masimo at 18 times estimated 2027 EBITDA, or 15 times after expected synergies.
What Investors Are Watching
The market’s focus has shifted from Masimo’s standalone growth trajectory to deal execution. Key questions heading into Monday’s report include whether the company can navigate the final quarters of independence without operational disruption, the magnitude of merger-related costs, and any updates on the regulatory approval timeline.
Danaher plans to operate Masimo as a standalone unit within its Diagnostics segment alongside Beckman Coulter, Cepheid and other brands. Investors will watch for management commentary on integration planning and whether the business is tracking toward Danaher’s expectation that Masimo will generate more than $530 million in EBITDA in 2027.
The anticipated EPS rebound from last quarter’s loss will be scrutinized, particularly given the expected sequential revenue decline. The company posted a surprising loss in the prior quarter despite revenue that slightly exceeded expectations, raising questions about cost pressures or one-time charges.
For long-term investors, Monday’s report represents a final data point before Masimo exits the public markets. For arbitrageurs holding the stock near $178, it’s a test of whether anything might derail a deal that appears on track to close within months.
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