Piper Sandler Upgrades Masimo Corp. (MASI) to Overweight

Piper Sandler analyst Jason Bednar upgraded Masimo Corp. (NASDAQ: MASI) from Neutral to Overweight with a price target of $160.00 (from $126.00).

The analyst comments: "We’re upgrading shares of Masimo to Overweight, and our call is pretty straightforward – we see investors as having a higher likelihood than not of making money from current levels. Notwithstanding the non-fundamental weird stuff from 1Q (which we’ve gotten more comfortable with in recent weeks), we think the scenario setup here skews positively for equity holders regardless of what unfolds with the pending Consumer separation and the upcoming shareholder meeting. Contributing to this view is a core Healthcare business that appears to have mostly improved (board shipments are the last piece, and those appear likely to turn better sequentially in 2Q), and a commitment from management to return to a more predictable margin expansion path. Add on a likelihood that preannounced 2Q results are strong and potentially even more long-term financial plans emerge from management, and we see the current entry point as attractive in offering high probability upside."

For an analyst ratings summary and ratings history on Masimo Corp. click here. For more ratings news on Masimo Corp. click here.

Shares of Masimo Corp. closed at $124.50 yesterday.

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