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Masimo's (MASI) Launch to Serve the Personalized Hearables Market
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Masimo Corporation (MASI - Free Report) has announced that it is expanding its premium Denon brand to introduce its latest offering, Masimo AAT (Adaptive Acoustic Technology). The products offered, Denon PerL and PerL Pro True Wireless ("TWS") Earbuds featuring Masimo AAT, will likely allow users to create a personal audio profile to optimize the sound quality of the headphones.
The Denon PerL and PerL Pro headphones are now available for purchase in a limited number at Denon.com, with a fuller rollout expected later in 2023.
The latest launch is expected to significantly expand Masimo’s foothold in the global personalized hearables market, thereby boosting its non-healthcare consumer audio business.
Few Words on the Products
Denon PerL Pro earbuds deliver high-quality sound wirelessly, providing a streaming experience like listening to a CD. This leads users to enjoy high-fidelity streaming sources with excellent audio fidelity. PerL Pro also creates a surround sound effect that enhances the overall audio experience in a compact and comfortable wireless earbud design.
Additionally, both the Denon PerL Pro and PerL models offer active noise cancellation and a more transparent social mode. This is expected to enable the user to tune the world out or let it in.
The eight and four microphones in the PerL Pro and PerL, respectively, provide upgraded noise cancelation, automatically adjusting the level of cancelation according to the amount of leak-through, the environment’s sound and the tightness of fit in the ears.
Significance of the Launch
Per Masimo, hearing varies from person to person, thus impacting the listening experience. The two Denon PerL TWS models use proprietary Masimo technology to assess each person’s unique response to sound. This is done by measuring the faint otoacoustic emissions (OAEs), produced by the inner ear in the presence of a range of tones played. Once the OAEs are analyzed to determine the sensitivity of a person’s ears to each frequency, a personal hearing profile is created in the Denon PerL Headphone app using artificial intelligence. This personalized profile is expected to provide superior depth, detail and clarity.
Per management, the introduction of the PerL and PerL Pro is expected to end the concept of one-sound-fits-all, thereby enhancing the listening experiences of individual listeners.
Industry Prospects
Per a report by Zion Market Research, the global hearable market was worth around $28 billion in 2022 and is anticipated to reach around $96.53 billion by 2030 at a CAGR of approximately 16.7%. Factors like the growing advancements in hearables-related technology and increased demand for wireless earphones and infotainment gadgets are expected to drive the market.
Given the market potential, the latest launch is likely to provide a significant boost to Masimo’s business globally.
Recent Developments
This month, Masimo announced that Hospital La Fe in Valencia, Spain, is expanding its telehealth and telemonitoring program with the Masimo W1 advanced health tracking watch.
The same month, Masimo announced that Fresno, CA-based Community Health System was adopting a variety of advanced Masimo monitoring technologies and solutions across its campuses.
Also, in June, Masimo received the FDA’s 510(k) clearance for its patient-worn, continuous multi-parameter vital signs monitor, Radius VSM.
Price Performance
Shares of Masimo have gained 20.3% in the past year compared with the industry’s 11.2% rise and the S&P 500's 14.9% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Masimo carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Merit Medical Systems, Inc. (MMSI - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 15.4% compared with the industry’s 11.2% rise in the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Merit Medical has gained 54.5% compared with the industry’s 19.1% rise over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 46.1% against the industry’s 22% decline over the past year.
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Masimo's (MASI) Launch to Serve the Personalized Hearables Market
Masimo Corporation (MASI - Free Report) has announced that it is expanding its premium Denon brand to introduce its latest offering, Masimo AAT (Adaptive Acoustic Technology). The products offered, Denon PerL and PerL Pro True Wireless ("TWS") Earbuds featuring Masimo AAT, will likely allow users to create a personal audio profile to optimize the sound quality of the headphones.
The Denon PerL and PerL Pro headphones are now available for purchase in a limited number at Denon.com, with a fuller rollout expected later in 2023.
The latest launch is expected to significantly expand Masimo’s foothold in the global personalized hearables market, thereby boosting its non-healthcare consumer audio business.
Few Words on the Products
Denon PerL Pro earbuds deliver high-quality sound wirelessly, providing a streaming experience like listening to a CD. This leads users to enjoy high-fidelity streaming sources with excellent audio fidelity. PerL Pro also creates a surround sound effect that enhances the overall audio experience in a compact and comfortable wireless earbud design.
Additionally, both the Denon PerL Pro and PerL models offer active noise cancellation and a more transparent social mode. This is expected to enable the user to tune the world out or let it in.
The eight and four microphones in the PerL Pro and PerL, respectively, provide upgraded noise cancelation, automatically adjusting the level of cancelation according to the amount of leak-through, the environment’s sound and the tightness of fit in the ears.
Significance of the Launch
Per Masimo, hearing varies from person to person, thus impacting the listening experience. The two Denon PerL TWS models use proprietary Masimo technology to assess each person’s unique response to sound. This is done by measuring the faint otoacoustic emissions (OAEs), produced by the inner ear in the presence of a range of tones played. Once the OAEs are analyzed to determine the sensitivity of a person’s ears to each frequency, a personal hearing profile is created in the Denon PerL Headphone app using artificial intelligence. This personalized profile is expected to provide superior depth, detail and clarity.
Per management, the introduction of the PerL and PerL Pro is expected to end the concept of one-sound-fits-all, thereby enhancing the listening experiences of individual listeners.
Industry Prospects
Per a report by Zion Market Research, the global hearable market was worth around $28 billion in 2022 and is anticipated to reach around $96.53 billion by 2030 at a CAGR of approximately 16.7%. Factors like the growing advancements in hearables-related technology and increased demand for wireless earphones and infotainment gadgets are expected to drive the market.
Given the market potential, the latest launch is likely to provide a significant boost to Masimo’s business globally.
Recent Developments
This month, Masimo announced that Hospital La Fe in Valencia, Spain, is expanding its telehealth and telemonitoring program with the Masimo W1 advanced health tracking watch.
The same month, Masimo announced that Fresno, CA-based Community Health System was adopting a variety of advanced Masimo monitoring technologies and solutions across its campuses.
Also, in June, Masimo received the FDA’s 510(k) clearance for its patient-worn, continuous multi-parameter vital signs monitor, Radius VSM.
Price Performance
Shares of Masimo have gained 20.3% in the past year compared with the industry’s 11.2% rise and the S&P 500's 14.9% growth.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Currently, Masimo carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Merit Medical Systems, Inc. (MMSI - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 15.4% compared with the industry’s 11.2% rise in the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Merit Medical has gained 54.5% compared with the industry’s 19.1% rise over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 46.1% against the industry’s 22% decline over the past year.