Masimo price target raised to $180 from $165 at Piper Sandler

Piper Sandler raised the firm’s price target on Masimo (MASI) to $180 from $165 and keeps an Overweight rating on the shares. The firm notes the company announced Q3 revenue of $505M finished just ahead of consensus as Healthcare strength more than offset expected Consumer weakness, with margin improvement in the former translating to a wide EPS beat and guidance raise. Equally important, Masimo management is underscoring business stability, and is also already signaling more focused resource allocation. To that end, management did provide an early outlook for 2025 Healthcare OM% of 26%, an initial level Piper thinks carries conservatism but one that shows an early commitment from management to meaningful profit improvement.