In a report released today, Marie Thibault from BTIG maintained a Buy rating on Masimo, with a price target of $198.00.
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Marie Thibault has given her Buy rating due to a combination of factors influencing Masimo’s stock. One of the key reasons is the ongoing litigation between Masimo and Apple, which presents a potential opportunity for Masimo. Although the recent U.S. Customs ruling allowed Apple to reintroduce a Blood Oxygen feature via a software update, this development does not necessarily affect the legal proceedings or the potential outcomes of the litigation.
Furthermore, Thibault sees the current market conditions as a buying opportunity, particularly given the legal uncertainties that may not have been fully priced into Masimo’s stock. The valuation of Masimo is also a significant factor, with a price target set at $198 based on a multiple of the company’s adjusted EBIT forecast over the next 12 to 24 months. This suggests confidence in Masimo’s financial performance and potential growth despite the risks associated with the ongoing legal battles.
Thibault covers the Healthcare sector, focusing on stocks such as Irhythm Technologies, Accuray, and Masimo. According to TipRanks, Thibault has an average return of -2.8% and a 38.76% success rate on recommended stocks.
In another report released on August 6, Piper Sandler also maintained a Buy rating on the stock with a $210.00 price target.