Shares of medical technology company Masimo Corporation (MASI) are down more than 4% in the morning trade on Thursday after the company said it expects first quarter revenue to be lower than its pervious expectation, hurt by supply chain issues.
Masimo sees product revenue in the range of $285 million to $315 million for the first quarter. Analysts polled by Thomson Reuters expect the company to report revenue of $329.74 million.
"In prior quarters, we were able to weather the storm of COVID-related supply chain issues. However, these issues impacted us in the first quarter," said Joe Kiani, Chairman and CEO of Masimo.
The company is scheduled to report first-quarter results on May 3.
MASI, currently at $148.60, has been trading in the range of $133.94-$305.21 in the past 52 weeks.
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