Masimo Q2 Revenue Outlook Miss; Citigroup Bullish On BeiGene
- July 18th, 2023
- 352 views
Shares of Masimo Corporation (Nasdaq: MASI) experienced a significant drop of over 20% in after-hours trading following the release of preliminary revenue results that fell below expectations.
The company anticipates its consolidated revenue for the second quarter of 2023 to range from $453 million to $457 million, which is notably lower than the consensus estimate of $553.23 million.
In response to the disappointing Q2 revenues, Masimo is implementing cost-cutting measures for the second half of the year.
$MASI was trading at $110.00, down $37.16 (-25.25%) in after-hours
In other news, BeiGene, Ltd. (Nasdaq: BGNE), a leading biopharmaceutical company specializing in cancer treatment, received coverage initiation from Citigroup with a Buy rating and a price target of $275.
Based on Monday's closing price of $197.90, the indicated price target suggests a potential upside of $77.10 or approximately 38.87% for $BGNE, according to the investment firm's analysis.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
Post Your Comments
Want To Find Some News?
Recent Posts
-
NJCP Football League Provides Development and Opportunity for Athletes Pursuing the Next Level
March 20th, 2026March 19th, 2026How High School Graduates Can Kickstart Their Football Career
March 18th, 2026
Member Login