Masimo Corp on Monday reported preliminary second-quarter sales below analysts' estimates due to weak performance at its healthcare segment, sending the medical device maker's shares down about 28% in after-market trading.
on Monday reported preliminary second-quarter sales below analysts' estimates due to weak performance at its healthcare segment, sending the medical device maker's shares down about 28% in after-market trading.
The company forecast consolidated revenue for the second quarter between $453 million and $457 million, compared with estimates of $553.2 million, according to Refinitiv. Masimo said an increase in costs related to hospital personnel hit equipment demand during the quarter. It also reported lower demand for single-patient use sensors.
"On the consumer side, it is unclear when the softness in the premium and luxury categories will improve," the company said.Reporting by Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta
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