Masimo price target lowered to $110 from $126 at Wells Fargo

Wells Fargo lowered the firm’s price target on Masimo to $110 from $126 and keeps an Equal Weight rating on the shares. The firm notes the company reported Q2 revenues that were in line with its pre-announcement, but EPS was 2c below consensus. 2023 top-line guidance was cut, as expected and updated guidance implies a steep Q4 earnings ramp, Wells adds.