Masimo downgraded to Hold from Buy at Stifel

Stifel downgraded Masimo to Hold from Buy with a price target of $120, down from $205. The company announced a “surprising” Q2 sales miss, falling 7%, below consensus, making it ‘”abundantly-clear” that Masimo’s consensus numbers will be moving lower, the analyst tells investors in a research note. While it is clear Masimo’s long-term healthcare fundamentals are intact, the consumer outlook seems more uncertain, says the firm. Stifel finds it difficult to be confident in the company’s near-to-medium term outlook.