BTIG lowered the firm’s price target on Masimo to $105 from $150 but keeps a Buy rating on the shares after its Q3 results and updated outlook. The company cut its FY23 guidance but also indicated that it has “higher confidence” in a gradual recovery, the analyst tells investors in a research note. Despite the Q3 miss and guidance cut, Masimo’s Q4 outlook is “more achievable”, the firm added.
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Read More on MASI:
- Masimo price target lowered to $81 from $110 at Wells Fargo
- Raymond James downgrades Masimo on ‘more muted growth profile’
- Masimo downgraded to Market Perform from Outperform at Raymond James
- Masimo cuts FY23 EPS view to $2.85-$3.05 from $3.35-$3.55
- Masimo sees Q4 adjusted EPS 74c-94c, consensus $1.34