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Masimo's (MASI) ORi Favored by Study for PaO2 Information
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Masimo Corporation (MASI - Free Report) recently announced the findings of a retrospective study in which researchers assessed the association between Masimo ORi (Oxygen Reserve Index) and the arterial partial pressure of oxygen (PaO2) in patients who underwent non-cardiac thoracic surgery during one-lung ventilation (OLV). The findings were published in the Journal of Anesthesia.
In the United States, ORi has been granted a De Novo by the FDA to be used in patients undergoing surgery as an adjunct to SpO2 for increased monitoring resolution of elevated hemoglobin oxygen saturation levels. The ORi feature is indicated for the monitoring of hemoglobin oxygen saturation levels in patients 18 years and above on supplemental oxygen during no-motion conditions perioperatively in hospital environments.
The latest study demonstrating a significant correlation between the two parameters during OLV is a major stepping stone for Masimo’s real-time patient monitoring business and is likely to solidify its position in the niche space on a global scale.
Significance of the Study
The researchers noted the importance of striving to prevent hyperoxemia and hypoxemia, especially during surgery requiring OLV, due to the risk of pulmonary complications. Hence, they sought to evaluate a non-invasive, continuous method of predicting imminent over- or under-oxygenation to overcome the drawbacks of invasive blood gas analysis alone, using Masimo ORi.
The researchers found that ORi values were significantly correlated with PaO2 measured simultaneously. They also concluded that ORi could provide useful information on arterial oxygenation even during OLV.
ORi is expected to provide clinicians with additional visibility, as a complement to SpO2 monitoring with Masimo SET pulse oximetry, into when oxygenation is increased into, or decreased out of, moderate hyperoxia in real time. Hyperoxia is a state of excess supply of oxygen in tissues and organs.
Industry Prospects
Per a report by Mordor Intelligence, the global patient monitoring market is anticipated to reach from $43,808.29 million in 2023 to $62,571.34 million by 2028 at a CAGR of approximately 7.4%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest study outcome is likely to provide a significant boost to Masimo’s business.
Recent Developments
Last month, Masimo announced the receipt of the FDA’s 510(k) clearance for over-the-counter and prescription use of the Masimo W1 medical watch.
The same month, Masimo announced a joint agreement with GE HealthCare. The collaboration is expected to integrate Masimo SET pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
Also, in November, Masimo reported its third-quarter 2023 results. Per management, its healthcare business is transitioning away from COVID-era conditions. Also, management is beginning to see customer behavior and sensor purchasing patterns shifting back to the pre-pandemic growth trend line.
Price Performance
Shares of Masimo have lost 32% in the past year compared with the industry’s 6.9% decline. The S&P 500 has witnessed 15.5% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , DexCom, Inc. (DXCM - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 42.5% compared with the industry’s 4.6% rise in the past year.
DexCom, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 33.6%. DXCM’s earnings surpassed estimates in all the trailing four quarters, with an average of 36.4%.
DexCom’s shares have lost 1.4% compared with the industry’s 6.9% decline in the past year.
Integer Holdings, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings’ shares have rallied 31.4% against the industry’s 6.9% decline in the past year.
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Masimo's (MASI) ORi Favored by Study for PaO2 Information
Masimo Corporation (MASI - Free Report) recently announced the findings of a retrospective study in which researchers assessed the association between Masimo ORi (Oxygen Reserve Index) and the arterial partial pressure of oxygen (PaO2) in patients who underwent non-cardiac thoracic surgery during one-lung ventilation (OLV). The findings were published in the Journal of Anesthesia.
In the United States, ORi has been granted a De Novo by the FDA to be used in patients undergoing surgery as an adjunct to SpO2 for increased monitoring resolution of elevated hemoglobin oxygen saturation levels. The ORi feature is indicated for the monitoring of hemoglobin oxygen saturation levels in patients 18 years and above on supplemental oxygen during no-motion conditions perioperatively in hospital environments.
The latest study demonstrating a significant correlation between the two parameters during OLV is a major stepping stone for Masimo’s real-time patient monitoring business and is likely to solidify its position in the niche space on a global scale.
Significance of the Study
The researchers noted the importance of striving to prevent hyperoxemia and hypoxemia, especially during surgery requiring OLV, due to the risk of pulmonary complications. Hence, they sought to evaluate a non-invasive, continuous method of predicting imminent over- or under-oxygenation to overcome the drawbacks of invasive blood gas analysis alone, using Masimo ORi.
The researchers found that ORi values were significantly correlated with PaO2 measured simultaneously. They also concluded that ORi could provide useful information on arterial oxygenation even during OLV.
ORi is expected to provide clinicians with additional visibility, as a complement to SpO2 monitoring with Masimo SET pulse oximetry, into when oxygenation is increased into, or decreased out of, moderate hyperoxia in real time. Hyperoxia is a state of excess supply of oxygen in tissues and organs.
Industry Prospects
Per a report by Mordor Intelligence, the global patient monitoring market is anticipated to reach from $43,808.29 million in 2023 to $62,571.34 million by 2028 at a CAGR of approximately 7.4%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest study outcome is likely to provide a significant boost to Masimo’s business.
Recent Developments
Last month, Masimo announced the receipt of the FDA’s 510(k) clearance for over-the-counter and prescription use of the Masimo W1 medical watch.
The same month, Masimo announced a joint agreement with GE HealthCare. The collaboration is expected to integrate Masimo SET pulse oximetry into GE HealthCare’s Portrait Mobile wireless and wearable patient monitoring solution.
Also, in November, Masimo reported its third-quarter 2023 results. Per management, its healthcare business is transitioning away from COVID-era conditions. Also, management is beginning to see customer behavior and sensor purchasing patterns shifting back to the pre-pandemic growth trend line.
Price Performance
Shares of Masimo have lost 32% in the past year compared with the industry’s 6.9% decline. The S&P 500 has witnessed 15.5% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , DexCom, Inc. (DXCM - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 36.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 42.5% compared with the industry’s 4.6% rise in the past year.
DexCom, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 33.6%. DXCM’s earnings surpassed estimates in all the trailing four quarters, with an average of 36.4%.
DexCom’s shares have lost 1.4% compared with the industry’s 6.9% decline in the past year.
Integer Holdings, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 11.9%.
Integer Holdings’ shares have rallied 31.4% against the industry’s 6.9% decline in the past year.