Roth Capital Raises Price Target on Masimo Corp. (MASI) to $46 Following 2Q Results and Guidance

Roth Capital reiterated a Buy rating on Masimo Corp. (NASDAQ: MASI), and raised the price target to $46.00 (from $39.00), following 2Q15 earnings results. Total revenues of $155.7 million beat consensus of $150 million. MASI raised its 2015 total revenue guidance to $621 million, from $608 million, and GAAP EPS to $1.43, from $1.33.

Analyst Chris Lewis commented, "MASI is increasingly committed to demonstrating its earnings power over the next three years through above market average revenue growth, gross margin improvements, controlled operating spend, and share repurchases, a development that remains an underappreciated aspect of the MASI story, in our opinion. 2Q results notably beat expectations driven by a fourth consecutive quarter of double-digit YoY core SET growth (up 10% yoy) despite Fx headwinds. We reiterate our Buy rating and raise our target price to $46, from $39."

For an analyst ratings summary and ratings history on Masimo Corp. click here. For more ratings news on Masimo Corp. click here.

Shares of Masimo Corp. closed at $41.78 yesterday.

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