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Masimo Corporation - MASI STOCK NEWS

Welcome to our dedicated page for Masimo Corporation news (Ticker: MASI), a resource for investors and traders seeking the latest updates and insights on Masimo Corporation stock.

Masimo Corporation (NASDAQ: MASI) is a leading global medical technology company specializing in the development and manufacturing of innovative noninvasive patient monitoring technologies. For over 27 years, Masimo has been at the forefront of medical advancements, offering a wide array of sensors and devices that enhance patient care and safety. Their products are designed to provide healthcare professionals with critical information to improve clinical decision-making.

Masimo's core business is divided into two segments: healthcare and non-healthcare. The healthcare segment is the primary revenue generator, focusing on noninvasive patient monitoring technologies, hospital automation, connectivity solutions, and remote monitoring devices. Their clinically proven products are widely used in hospitals, emergency rooms, and clinical settings around the world.

The non-healthcare segment encompasses the consumer audio business, which includes the development, manufacturing, marketing, and licensing of premium and luxury audio sound products. This segment is known for its advanced audio integration technologies that appeal to audiophiles and general consumers alike.

Masimo's recent achievements include expanding their product portfolio with advanced remote monitoring solutions, partnering with leading healthcare organizations, and pioneering innovative technologies that address unsolvable medical challenges. Financially, the company is robust, showing consistent growth and a strong market presence.

Masimo’s dedication to improving lives is evident in their mission to save, extend, and enhance the quality of life across all demographics. Their innovative spirit attracts individuals who are passionate about making a significant impact in the medical field. As they continue to innovate, Masimo remains committed to providing top-tier products that meet the evolving needs of the healthcare industry.

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Masimo independent director Michelle Brennan has voiced concerns about the company's boardroom culture, suggesting a need for a cultural reset. According to Brennan, the current board prioritizes loyalty to CEO Joe Kiani over independent oversight, which has led to operational inefficiencies and poor financial performance. She insists that a majority of truly independent directors could benefit stakeholders and unlock Masimo's growth potential. The call for change is supported by Politan Capital Management, which holds an 8.9% stake in Masimo. Brennan highlights issues such as lack of transparency, ineffective oversight of regulatory investigations, and the impact on employees and patients. She urges shareholders to support further changes at the upcoming 2024 Annual Meeting.

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Masimo (NASDAQ: MASI) has accused Politan and Quentin Koffey of actions that contradict their stated commitment to good governance. The company claims that over the past twelve months, Koffey has acted against Masimo's and its shareholders' best interests. Specific allegations include rejecting board expansion efforts, refusing director duties, deceiving a Special Committee, and advancing Politan's agenda over shareholder interests. Masimo urges shareholders to vote for Joe Kiani and Christopher Chavez using the GOLD proxy card to protect the company's future.

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Masimo (Nasdaq: MASI) announced its preliminary revenue and select financial results for Q2 2024, ending June 29, 2024. The company expects consolidated revenue to be around $496 million, reflecting a 9% growth on a reported basis and 10% on a constant currency basis.

Healthcare revenue is anticipated at approximately $344 million, marking a 22% increase on a reported basis and 23% on a constant currency basis. Non-healthcare revenue is expected to decline to about $152 million, which is a 13% drop on a reported basis and an 11% drop on a constant currency basis.

The incremental value of new healthcare contracts is projected to be around $134 million. The company also expects 58,000 driver shipments. CEO Joe Kiani highlighted strong growth in the healthcare segment and a robust order backlog as indicators of a promising start to 2024.

Complete Q2 2024 financial results and updated fiscal year 2024 guidance will be discussed in the upcoming earnings call.

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Masimo has issued a statement addressing what it claims are deceptive tactics by Politan to distract from its own shortcomings. The company urges shareholders to support its nominees, Joe Kiani and Christopher Chavez, instead of Politan's picks.

Masimo disputes several assertions by Politan, including the qualifications and independence of Politan's nominees, and claims about Masimo's governance and transactions. The company provides detailed counterpoints, asserting that Politan's candidates are neither independent nor suitably qualified.

Masimo clarifies that all transactions, including IP licensing and consumer separation, are overseen by the Board and follow agreed-upon processes. The company further addresses accusations about CEO travel, employee approval ratings, and handling of subpoenas, emphasizing transparency and proper procedures.

Masimo argues that Politan's failure to deliver viable plans and solutions, especially regarding consumer separation, disqualifies their nominees. They also highlight Politan's alleged misinformation and lack of understanding of Masimo's operations.

In summary, Masimo believes that Politan's actions and claims are detrimental to shareholders and urges a vote for its own nominees to ensure value creation and transparency.

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Masimo has issued a letter to its stockholders concerning the 2024 Annual Meeting of Stockholders, emphasizing the importance of voting for their director nominees, Joe Kiani and Christopher Chavez. Masimo highlights Chavez's extensive experience in the medical technology industry and contrasts it with the nominees proposed by Politan, whom they describe as paid and lacking independence. Masimo argues that electing Politan's nominees could jeopardize the company's value and future innovation. The letter seeks to assure stockholders of the qualifications and independence of their nominees, aiming for continued innovation-driven revenue growth.

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Masimo (NASDAQ: MASI) has introduced Sleep Halo™, an advanced sleep analysis feature for the Masimo W1® Sport wearable. Sleep Halo uses 70,000+ daily measurements of continuous pulse oximetry data and advanced AI to provide detailed insights into sleep quality, including duration, sleep stages, and desaturation episodes. Users can view these insights and a Sleep Halo score on the Masimo Health app. This technology will also be featured in future Masimo wearables, such as the Masimo Freedom™ Watch and Band. Masimo W1 Sport owners can update their firmware and app to access Sleep Halo.

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Masimo (NASDAQ: MASI) has announced a collaboration with Cleveland Clinic to enhance hospital remote patient monitoring (RPM) through the integration of Masimo’s Hospital Automation™ platform with Cleveland Clinic’s critical care (eHospital) and non-critical care (eCMU) central monitoring platforms. The partnership aims to improve clinical decision support and situational awareness, including predictive analytics and AI-based algorithms for cardiac care. Cleveland Clinic's programs have demonstrated success in reducing patient mortality and ICU stays. The collaboration will also develop new tools for early detection of adverse events, leveraging Masimo’s Halo engine technology.

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Masimo has released an investor presentation detailing their innovation-driven strategy aimed at boosting growth and expanding margins. The company emphasizes its strong history of innovation under the leadership of Joe Kiani, aiming to double adjusted EPS to approximately $8 by 2029. The presentation also warns against Politan's attempt to take control of the company without paying a premium or offering a clear operational plan, claiming it poses a significant risk to shareholder value. Masimo urges stockholders to vote for Joe Kiani and Christopher Chavez in the upcoming Annual Meeting on July 25, 2024, to protect their investments.

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On June 24, 2024, Masimo (NASDAQ: MASI) achieved a significant legal victory with the dismissal of a patent infringement lawsuit filed by Wrist SP Biotech. The lawsuit, initially filed in August 2023, accused Masimo's pulse oximetry sensors of infringing U.S. Patent No. 11,331,015. The case was transferred from the Western District of Texas to the Central District of California, where detailed evidence from Masimo led to the dismissal with no payment. Masimo, represented by the legal team at Knobbe Martens, has seen a series of legal successes, including a permanent injunction against Sotera Wireless and Foxconn, and an import ban on Apple watches that infringed Masimo's technology. CEO Joe Kiani emphasized the company's respect for valid intellectual property and praised the legal team's efforts.

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Masimo's Board of Directors has filed proxy materials and issued a letter to stockholders, urging them to vote for current board nominees Joe Kiani and Christopher Chavez on the GOLD proxy card in the upcoming Annual Meeting on July 25, 2024. The Board warns that giving control to Politan Capital Management could jeopardize Masimo's innovation and growth. Masimo highlights its strong track record, ongoing organic growth, and plans for margin expansion. The Board criticizes Politan's obstructive behavior, which they believe threatens Masimo's future and operational stability. For more information, visit ProtectMasimosFuture.com.

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FAQ

What is Masimo Corporation's main business?

Masimo Corporation specializes in developing and manufacturing noninvasive patient monitoring technologies and premium audio products.

How long has Masimo Corporation been in operation?

Masimo has been operational for over 27 years, continually innovating in the medical technology field.

What are the key segments of Masimo's business?

Masimo operates in two key segments: healthcare, which includes patient monitoring technologies, and non-healthcare, which includes premium audio products.

What products does Masimo offer?

Masimo offers noninvasive patient monitoring devices, sensors, remote monitoring solutions, hospital automation products, and luxury audio sound systems.

What makes Masimo's products unique?

Masimo's products are known for their innovative, noninvasive technology that provides accurate patient monitoring and critical information for clinical decision-making.

Who uses Masimo's healthcare products?

Masimo's healthcare products are used by healthcare professionals in hospitals, clinics, emergency rooms, and other medical settings.

What recent achievements has Masimo Corporation accomplished?

Masimo has expanded their product portfolio with advanced remote monitoring solutions and established partnerships with leading healthcare organizations.

What is the financial status of Masimo Corporation?

Masimo Corporation has shown consistent financial growth and maintains a strong market presence.

What is Masimo's mission?

Masimo's mission is to save, extend, and improve lives by developing innovative medical technologies and solutions.

Where can I find the latest news about Masimo Corporation?

The latest news about Masimo Corporation can be found on their official website and trusted financial news sources.

Masimo Corporation

Nasdaq:MASI

MASI Rankings

MASI Stock Data

5.95B
53.18M
7.77%
95.67%
12.21%
Electromedical and Electrotherapeutic Apparatus Manufacturing
Manufacturing
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United States of America
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