What Made Needham Downgrade Masimo’s Stock?

By Jason Carr

Masimo (MASIResearch Report) received a Hold rating from Needham analyst Michael Matson today. The company’s shares closed last Friday at $199.70, close to its 52-week high of $208.59.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 4.2% and a 55.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Masimo with a $196.25 average price target.

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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.