In a report released yesterday, Sean Lavin from BTIG maintained a Buy rating on Masimo Corp (NASDAQ: MASI), with a price target of $130. The company’s shares closed yesterday at $115.60.
Lavin noted:
“As we previewed, Masimo posted a small sales and EPS beat on consensus estimates—essentially in line with our forecast—and pushed up 2018 guidance. It seems the business keeps sailing along. The number of boards/monitors shipped in the quarter (59,100 units) again exceeded expectations; with two quarters of this strength we think it may be a repeatable trend. The co-marketing agreement with Philips (PHG, Not Rated) is progressing well, with senior leadership convinced of the clinical advantages of MASI measurements. The agreement has expanded from the original five countries to six—and soon to be seven—countries in focus. We still expect much of the revenue benefit is yet to come as large, long- term hospital deals materialize. We continue to see a lot to like at MASI, with strong product sales, good updates from the PHG relationship, and numerous broad-based forces driving adoption.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 12.0% and a 59.6% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Masimo Corp with a $138 average price target.
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Based on Masimo Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $43.85 million. In comparison, last year the company had a net profit of $39.24 million.
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Masimo Corp. is a medical technology company, which engages in the development and manufacture of non invasive patient monitoring technologies, medical devices, and sensors. Its products include continuous monitors, patient-worn monitors, hospital automation connectivity, capnography and gas, data download and analytics, and sensors and accessories.
