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Medical Device Stocks on the Move

JC Parets

On a relative basis, the sector continues to digest its strong year-to-date gains and work off a bearish momentum divergence by consolidating above our previous price objective at 0.734. An individual name in the sector breaking out is Masimo Corporation ( MASI). It has been consolidating for the past 18 months, and this push to new all-time highs signals the resumption of its long-term uptrend.