William Blair analyst Matt Larew has maintained their bullish stance on MASS stock, giving a Buy rating on March 11.
Matt Larew has given his Buy rating due to a combination of factors that highlight 908 Devices’ strategic focus and financial outlook. The company’s recent decision to divest its bioprocessing desktop assets has allowed it to concentrate on its core handheld portfolio, which is experiencing faster growth and higher profitability. This strategic shift is expected to enhance the company’s growth prospects and improve its financial stability by reducing operating losses and accelerating the timeline to profitability.
Furthermore, the divestment aligns with the company’s historical strengths and expertise in the handheld market, as evidenced by CEO Kevin Knopp’s previous successful ventures in the chemical detection space. The stock’s current valuation, trading at a lower multiple compared to its peers, presents an attractive investment opportunity. These factors collectively underpin Larew’s positive outlook and Buy rating for 908 Devices.
Larew covers the Healthcare sector, focusing on stocks such as Repligen, 908 Devices, and Amedisys. According to TipRanks, Larew has an average return of -9.2% and a 38.24% success rate on recommended stocks.