Masimo (NASDAQ:MASI) revealed its revenue projection for 2024, anticipating it to be between $2.05 billion and $2.17 billion. This forecast surpasses the consensus estimate of $2.09 billion at the midpoint.

Additionally, the company expects its adjusted earnings per share (EPS) for the same year to range from $3.44 to $3.60, which is higher than the anticipated $3.08.

Following this announcement, MASI's stock surged more than 6% today.

The company also shared preliminary results for the fourth quarter, expecting revenue to fall between $541 million and $551 million, which is higher than the Street's estimate of $537 million.