Needham analyst Mike Matson reiterated a Buy rating on Masimo Corporation (NASDAQ: MASI) with a price target of $136.
On Thursday, the ITC upheld a January judge's decision in an exclusion order, which found Apple Inc. (NASDAQ: AAPL) guilty of infringing Masimo's patent rights. These rights pertain to a light-based technology used in blood-oxygen-level monitoring.
The exclusion is scheduled to go into effect after a 60-day Presidential review period.
If MASI is ultimately successful, Apple might be forced to pay royalties, the analyst notes.
Matson estimates that ...