In a report released yesterday, 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 surrounding Masimo’s recent legal victories and ongoing litigation with Apple. The company was awarded $634 million in damages from a jury verdict, which found that Apple had infringed on Masimo’s patent related to its low-power pulse oximetry system. This legal win is seen as a significant positive development for Masimo, despite Apple’s intention to appeal the decision.
Additionally, the International Trade Commission (ITC) has initiated a new investigation into Apple’s redesigned watch, which Masimo alleges violates a previous exclusion order. These legal proceedings are expected to strengthen Masimo’s position and could potentially lead to a favorable settlement or resolution. The anticipation of a positive outcome from these legal battles is likely to drive Masimo’s stock higher, making it an attractive investment opportunity.
Thibault covers the Healthcare sector, focusing on stocks such as Boston Scientific, Irhythm Technologies, and Accuray. According to TipRanks, Thibault has an average return of -7.6% and a 37.35% success rate on recommended stocks.
In another report released on November 5, Stifel Nicolaus also maintained a Buy rating on the stock with a $180.00 price target.