Masimo price target lowered to $81 from $110 at Wells Fargo

Wells Fargo lowered the firm’s price target on Masimo to $81 from $110 and keeps an Equal Weight rating on the shares as Q3 disappoints and guidance is lowered again. The Street is trying to figure out how next year will shape up, and Wells sees a lack of meaningful catalysts and limited upside until management officially guides 2024.