Masimo Corporation ( MASI Quick Quote MASI - Free Report) recently received the CE mark and commercially launched the single-patient-use adhesive rainbow SuperSensor in Europe. The SuperSensor is compatible for use with both Masimo and third-party monitors with Masimo rainbow technology inside. The all-inclusive, multi-purpose and handy SuperSensor utilizes 12 LEDs to simultaneously provide 12 blood constituent parameters noninvasively and continuously — all on the same single-patient-use adhesive sensor, which is an industry first. The announcement is likely to provide a boost to Masimo’s patient monitoring platform and strengthen its product portfolio. More on the News
It is worth mentioning that at the core of the SuperSensor lies Masimo Signal Extraction Technology (SET) pulse oximetry that has been clinically proven to aid care teams in improving patient safety and boosting patient outcomes.
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In this regard, this breakthrough technology enables clinicians to noninvasively and continuously monitor different physiologic indicators concurrently. This helps in tracking and assessing the patient’s status consistently.
Per management, the SuperSensor marks a critical milestone in Masimo’s sustained innovation, while mitigating concerns related to cross-contamination as it is a single-patient-use, adhesive product. The medical community is likely to benefit on the back of this innovative product. Market Prospects
a report by Market Research Future, the global non-invasive monitoring device market is anticipated to witness a CAGR of 6.8% and is estimated to reach $21.59 billion by 2023. Rising adoption of non-invasive technology, and increasing prevalence of cardiovascular and neurovascular diseases are driving this market’s growth. Hence, this launch is a well-timed one for Masimo. Recent Developments
This month, the company announced its collaboration with Penington Institute, which highlights its commitment toward increasing awareness regarding the risks associated with overdose from prescription opioids in spite of the directed usage.
In August, the company received the CE mark for its SafetyNet Alert and introduced the same in western Europe. Masimo SafetyNet Alert is an arterial blood oxygen saturation monitoring and alert system developed for utilization in a home setting. The system features SET wearable fingertip pulse oximetry sensor that offers wireless communication to an accompanying Home Medical Hub and smartphone app. Again, in August, Masimo announced the findings of a study, published in the Turkish Journal of Emergency Medicine, wherein researchers explored the utility of noninvasive, continuous Masimo Pleth Variability Index (PVi) when it comes to monitoring volume status and changes in spontaneously breathing patients who are undergoing hemodialysis (HD). Per the findings, a strong correlation has been found between change in PVi and the volume of fluid removed. Price Performance
Shares of the company have gained 20.7% in the past year compared with the
industry’s growth of 14.8%. Zacks Rank & Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Henry Schein, Inc. ( HSIC Quick Quote HSIC - Free Report) , Envista Holdings Corporation ( NVST Quick Quote NVST - Free Report) and Merit Medical Systems, Inc. ( MMSI Quick Quote MMSI - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. Henry Schein’s long-term earnings growth rate is estimated at 13.9%. Envista Holdings’ long-term earnings growth rate is estimated at 27.4%. Merit Medical’s long-term earnings growth rate is projected at 13.6%.