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Masimo Corp MASI

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Morningstar’s Analysis

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Masimo Has Decent Quarter Considering Tough Comparable and Accounting Changes; Maintaining $195 FVE

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

With single-patient-use sensor demand rebounding along with more normal levels of elective surgeries in the United States, narrow-moat Masimo reported a good second quarter in relation to a tough comparable a year ago. We are maintaining our $195 fair value estimate and view shares as moderately overvalued.

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Company Profile

Business Description

Masimo is an Irvine, California-based medical device business that focuses on noninvasive patient monitoring. It began by developing superior signal processing algorithms to measure blood oxygenation levels through pulse oximetry and has expanded this expertise into a wide range of measurements and applications. The company generates revenue globally, with the United States the largest market (67% of 2020 sales), followed by Europe, the Middle East, and Africa (21%), Asia and Australia (9%), and North and South America excluding the U.S. (3%).

52 Discovery
Irvine, CA, 92618
T +1 949 297-7000
Sector Healthcare
Industry Medical Instruments & Supplies
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Aggressive Growth
Employees 6,200