Needham Believes Masimo Corp (NASDAQ: MASI) Still Has Room to Grow

By Austin Angelo

Needham analyst Michael Matson reiterated a Buy rating on Masimo Corp (MASIResearch Report) today and set a price target of $139. The company’s shares closed yesterday at $124.39, close to its 52-week high of $126.89.

Matson observed:

“We hosted investor meetings with Kammerman, this week in the Midwest. We come away from the meetings with a better appreciation of MASI’s growth and margin outlook. We believe that MASI’s business model and product portfolio should enable it to sustain strong and consistent top and bottom line growth. Additionally, we think that the impact of the Philips agreement should cumulatively build as boards with MASI’s Rainbow and other measurements are installed in an increasing portion of Philips’ installed base. And we see several catalysts (detailed below) that could help MASI shares in 2019. Given all of this, we reiterate our Buy rating.”

According to, Matson is a 5-star analyst with an average return of 12.1% and a 64.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Merit Medical Systems.

Currently, the analyst consensus on Masimo Corp is a Moderate Buy with an average price target of $129.50.

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Based on Masimo Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $57.13 million. In comparison, last year the company had a net profit of $367K.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MASI in relation to earlier this year. Most recently, in December 2018, Thomas Samuel Mcclenahan, the EVP & GC of MASI bought 1,000 shares for a total of $22,400.

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Masimo Corp. is a medical technology company, which engages in the development and manufacture of non invasive patient monitoring technologies, medical devices, and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography and gas, data download and analytics, and sensors and accessories.