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Masimo Preliminary Q1 Tops Estimates

Irvine-based Masimo Corp., a manufacturer of non-invasive monitoring devices for hospitals, said preliminary revenue should be between $265 million and $271 million for the first quarter ended March 28, a 14.9% to $17.5% rise over the same period a year ago.

That result tops the $252.5 million average expected by six analysts surveyed by Yahoo! Finance. Masimo said it will issue its first quarter results on April 28.

Shares of Masimo (Nasdaq: MASI) rose 1.5% to $179.83 and a $9.7 billion market cap.

The company said the coronavirus has increased demand for its products. The Business Journal’s April 6 issue will have more information on what Masimo and other publicly traded companies are doing to combat the coronavirus.

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Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
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