Masimo Corporation (MASI Quick QuoteMASI - Free Report) is currently one of the top performing stocks in the Med Tech space. The company’s strong product portfolio and global expansion are major tailwinds.

 

 

Over the past month, shares of the global medical technology company have rallied 5.2%, ahead of the S&P 500 index’s gain of 3% and the industry’s 0.2%.

 

Three estimates have moved north in the last 60 days, with no movement in the opposite direction. During the same period, the Zacks Consensus Estimate for earnings per share rose 12.9% to 70 cents.

 

 

Consequently, the company has a Zacks Rank #2 (Buy), which indicates expectations of outperformance in the near term.

 

Let’s find out whether the recent positive trends can keep driving this stock in the long run.

 

 

 

Masimo reported solid fourth-quarter earnings of 72 cents per share, up 37.3% on year-over-year basis. Revenues improved 22.9% to $225.2 million, compared with the year-ago quarter. The upside was primarily driven by a 42.5% year-over-year hike in revenues from Masimo rainbow products.

 

 

Masimo gains from a solid product portfolio. The flagship SET pulse oximeter solution is rapidly gaining traction over conventional pulse oximeters. The company’s newborn screening application, Eve, recently received CE Mark.

 

Furthermore, Masimo has been launching products that target the general floor of hospitals and consumer market. The company recently introduced MightySat fingertip pulse oximeter for personal use. Products like Patient SafetyNet Series 5000, O3 regional oximetry, iSpO2 Mobile health pulse oximeter for Android also deserve a mention.

 

 

Recently, Masimo expanded its operations in India. The company announced that NU Hospitals, a leading nephrology care center in India, has adopted Masimo technologies across its continuum of care. This is to consolidate the company’s foothold in the global MedTech Space.

 

 

A few other top-ranked stocks in the broader medical sector are athenahealth, Inc. , Bio-Rad Laboratories, Inc. (BIO Quick QuoteBIO - Free Report) and Centene Corporation (CNC Quick QuoteCNC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

 

athenahealth has an expected long-term growth rate of 17.7% and projected earnings per share growth rate of 21.5%.

 

Bio-Rad has an expected long-term growth rate of 20% and projected earnings per share growth rate of 20%.

 

Centene has an expected long-term growth rate of 14.4% and projected earnings per share growth rate of 14.4%.

 

 

Earlier this year, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

 

Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.