Shares of Masimo Corp. (NSDQ:MASI) plunged more than 12 percent today after the patient monitoring device maker missed third-quarter earnings expectations and lowered its sales and earnings guidance for the rest of 2011.

MASI shares were trading at $19.61 as of about 1 p.m. today, down 12.1 percent.

Irvine, Calif.-based Masimo reported profits of $14.8 million, or 24 cents per share, on sales of $104.0 million for the three months ended Oct. 1. That’s a bottom-line slide of 9.7 percent, despite a sales increase of 3.0 percent, compared with profits of $16.4 million, or 27 cents per share, on sales of $101.0 million.

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Excluding one-time items, adjusted EPS was 25 cents; analysts had anticipated adjusted EPS of 27 cents.

Masimo reduced its full-year sales and earnings guidance to revenues of between $436 million and $439 million, down from $446 million to $463 million, and EPS of $1.04 to $1.06 per share (down from $1.17 to $1.25).

MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.

Sonosite’s Q3 sales rise, earnings slump

Sonosite (NSDQ:SONO) reported profits of $720 million, or 5 cents per share, on sales of $75.7 million for the three months ended Sept. 30.

Revenues were up 10.5 percent compared with the same period last year, but profits were down 23.6 percent compared with $942 million, or 7 cents EPS, on sales of $68.5 million during Q3 2010.

SONO shares were down 9.3 percent to $30.08 as of about 1:120 today. Read more

McKesson crushes The Street’s earnings forecast
McKesson Corp. (NYSE:MCK) demolished Wall Street expectations for its third-quarter earnings, beating analysts’ forecast by a wide margin and watching its stock price surge as a result.

McKesson reported profits of $296 million, or $1.18 per share, on sales of $30.21 billion for the three months ended Sept. 30. And although that’s a profit slide of 9.5 percent compared with Q3 2010, adjusted EPS was $1.63 – a whopping 24 cents above analysts’ expectations of $1.39 adjusted EPS.

MCK shares were up 6.4 percent to $80.99 as of about 1:45 p.m. today. Read more

Merit Medical swings to Q3 black

Merit Medical (NSDQ:MMSI)
put some black ink in its ledger book during the third quarter, reversing a net loss from Q3 2010 to nearly $5 million profit for the three months ended Sept. 30.

Merit reported earnings of $4.6 million, or 11 cents per share, on sales of $90.5 million for the quarter – a top-line boost of 23.6 percent compared with net losses of $2.0 million, or 6 cents per share, on sales of $73.2 million for Q3 2010.

Investors on The Street liked the results (and the fact that Merit matched expectations of adjusted EPS of 18 cents), sending MMSI shares up 4.0 percent to $13.42 as of about 2 p.m. today. Read more

Allergan turns it around

Allergan (NYSE:AGN) also swung to black during the quarter, posting profits of
$250 million, or 81 cents per share, on sales of $1.33 billion during the three months ended Sept. 30.

That compares with a net loss of $671 million, or $2.21 per share, on sales of $1.21 billion during Q3 2010. Read more

Hospira swings to Q3 loss

Hospira (NYSE:HSP) reported a loss of $89 million, or 54 cents per share, on sales of $977 million during the three months ended Sept. 30.

Although that’s 2.9 percent more sales than in Q3 2010, the Abbott spinoff was also profitable during the same period last year, reporting net income of $71 million, or 42 cents per share, on sales of $949 million. Read more

Profits soar for Vascular Solutions

Sales grew 22.4 percent and profits surged more than 153 percent for Vascular Solutions (NSDQ:VASC) during the third quarter.

The Minneapolis-based company logged profits of $3.7 million, or 22 cents per share, on sales of $24.3 million during the three months ended Sept. 30, compared with profits of $1.5 million, or 9 cents per share, on sales of $19.9 million during Q3 2010. Read more

Conceptus slips into the red on sales slide

Conceptus (NSDQ:CPTS) slipped into the red on a 2.5 percent sales decline during the quarter.

The Mountain View, Calif.-based women’s health firm reported a net loss of $2.9 million, or 9 cents per share, on revenues of $33.0 million during the three months ended Sept. 30.

That compares with profits of $976 million, or 3 cents per share, on sales of $33.9 million during Q3 2010. Read more

Spectranetics posts a profit

Spectranetics (NSDQ:SPNC) reported a profit during the third quarter, swinging from a net loss during teh same period last year.

The Colorado Springs-based company posted profits of $109 million, or no cents per share, on sales of $32.1 million for the three months ended Sept. 30.

That’s an 8.6 percent increase in revenues, compared with net losses of $12.7 million, or 38 cents per share, on sales of $29.6 million in Q3 2010. Read more

Staar Surgical swings to black

Staar Surgical (NSDQ:STAA) swung to black during the third quarter on a 16.1 percent sales increase.

The Monrovia, Calif.-based company said it earned $77 million, or no cents per share, on sales of $15.3 million during the three months ended Sept. 30.

That compares with a net loss of $1.2 million, or 3 cents per share, on sales of $13.2 million during the same period last year. Read more