Shares of Irvine-based patient monitoring maker Masimo Corp. rose, a day after the company reported a first-quarter profit that met analysts’ expectations on revenue that surpassed forecasts.

Masimo's shares were up 7% on Friday to a market value of $1.23 billion.

The company's’s profit came in at $16.4 million, up 4% from the $15.8 million a year ago. Analysts forecast a $16.4 million first-quarter profit.

First-quarter revenue rose 14% to $135.9 million, surpassing consensus estimates of $134.5 million.

Masimo said that its product revenue was up 15% to $128.6 million.

The company didn’t give a forecast for the current quarter or 2013 in its earnings release.