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Masimo Says Q3 Sales Top Estimates

Masimo Corp. (Nasdaq: MASI), an Irvine-based medical device maker, reported preliminary third-quarter product revenue ranged from $274 million to $278 million, topping the $243.7 million average estimate of eight analysts.

Masimo also returned to providing its annual forecast updates, which it declined to do in April and July, citing the uncertainties caused by the coronavirus. It boosted its 2020 product revenue forecast to $1.124 billion to $1.128 billion, up from a January prediction of $1.035 billion. Analysts expected $1.07 billion this year.

The annual forecast implies fourth quarter sales of around $279 million, above the $254 million expected by analysts.

The company will announce its third quarter results on Oct. 27, hosted by Chief Executive and founder Joe Kiani.

In after hours trading, shares were flat at $241. The shares have climbed 62% since mid-March to a $13.2 billion market cap.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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