Needham Reaffirms Their Buy Rating on Masimo (MASI)

By Jason Carr

Needham analyst Michael Matson maintained a Buy rating on Masimo (MASIResearch Report) today and set a price target of $201.00. The company’s shares closed last Wednesday at $181.48, close to its 52-week high of $187.86.

According to TipRanks.com, Matson is a 2-star analyst with an average return of -0.3% and a 49.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on Masimo is a Strong Buy with an average price target of $196.25.

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Based on Masimo’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $248 million and net profit of $52.92 million. In comparison, last year the company earned revenue of $223 million and had a net profit of $46.93 million.

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Masimo Corp. is a medical technology company, which develops, manufactures and markets non invasive patient monitoring technologies, medical devices and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography & gas, data download & analytics and sensors & accessories. The company was founded by Joe E. Kiani in May 1989 and is headquartered in Irvine, CA.