Piper Jaffray Maintains Overweight on Masimo

Piper Jaffray is out with its report today on Masimo MASI, maintaining Overweight. In its report, Piper Jaffray writes, "We remain positive on Masimo's 12-month prospects, but believe shares may remain range-bound for the next two quarters until the trajectory of Rainbow adoption becomes apparent. Maintain OW rating and $36 price target." Shares of MASI closed Friday at $22.35.