Masimo upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Jason Bednar upgraded Masimo to Overweight from Neutral with a price target of $160, up from $126. The analyst sees investors “as having a higher likelihood than not of making money from current levels.” Notwithstanding the non-fundamental “weird stuff” from Q1, Masimo’s setup here skews positively for equity holders regardless of what unfolds with the pending Consumer separation and the upcoming shareholder meeting, the analyst tells investors in a research note. The firm says the company’s core Healthcare business appears to have mostly improved with a commitment from management to return to a more predictable margin expansion path.