I don't know if I would call them patent trolls per se, since some patent troll companies' business model is just trying to win patent lawsuits, but if you go to battle and the overwhelming majority of your patents are invalidated when put under any level of scrutiny then you're still being shady. Literally 95% of Masimo's infringment claims (98 of 103) have already been invalidated in this case. They're building products but they're also abusing the patent system.
This is endemic though, I don't think Masimo is especially unique here, companies often encourage filing frivolous patents.