Raymond James downgrades Masimo on ‘more muted growth profile’

Raymond James downgraded Masimo to Market Perform from Outperform without a price target. The company’s lack of visibility into growth and the sizable estimate reduction are “thesis-changing,” the analyst tells investors in a research note. The firm acknowledges that investor sentiment is already low says the latest revision “may well end up as the clearing point for the stock.” However, a stock bullish thesis now largely rests on corporate action, but without a timetable or management willingness, “it is difficult to stay constructive given the more muted growth profile,” contends Raymond James.