Masimo Corporation (MASI - Free Report) recently announced that it has received a 510(k) clearance from the FDA for Radius PPG. This FDA nod will prove beneficial for the company as Radius PPG utilizes the power of clinically proven Masimo SET technology that will deliver accurate measurement while the patients are on the move. This in itself is expected to be a significant breakthrough in patient monitoring.
More Details on Radius PPG
Radius PPG has been created to eliminate the need for a cabled connection to a pulse oximetry monitor, consequently providing patients the freedom and comfort to move while being continuously monitored in a reliable and correct way. Given the wireless connection, the measurements get displayed on Masimo host devices or third-party multi-parameter monitors integrated with Masimo technology. This in turn makes Radius PPG instantly available to around two million monitors globally.
Masimo: A Leading Player in Pulse Oximetry
Masimo is a global pioneer in the field of highly-advanced non-invasive monitoring technologies. The company’s flagship Signal Extraction Technology (SET) pulse oximetry or SET pulse oximeter solution successfully eliminates the limitations of conventional mediums. Masimo’s rainbow SET technology has been gaining traction driven by rapid product development.
Together with the proven benefits of Masimo SET Measure-through Motion and Low Perfusion pulse oximetry, Radius PPG can be used anywhere providing patients with advantage of mobility.
Patient Monitoring in Focus
Masimo is touted to be the most innovative company in the patient monitoring space. According to report by Research and Markets, the global market for patient monitoring devices will witness a CAGR of 8.2% to nearly $30.7 billion by 2022. Growing economy, rise in the prevalence of chronic diseases and increasing adoption of cost-effective remote patient monitoring devices will drive growth in this market.
Masimo remains committed toward enhancing patient monitoring and its efforts reflect the same. In non-invasive patient monitoring, the company’s Patient SafetyNet, Rainbow acoustic monitoring, SedLine brain function monitoring, Capnography and gas monitoring deserve mention.
Additionally, Masimo’s program to improve opioid safety via innovative monitoring technology for both post-surgical wards and home use deserves mention in this regard.
Zacks Rank and Price Performance
Currently, Masimo carries a Zacks Rank #2 (Buy). On a year-to-date basis, Masimo has outperformed the industry it belongs to. The stock has rallied 29% compared with the industry’s rise of 6.4%.
Other Stocks that Warrant a Look
Some other top-ranked stocks from the broader medical space are Cardiovascular Systems, Inc. (CSII - Free Report) , Quidel Corporation (QDEL - Free Report) and Heamonetics Corporation (HAE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardiovascular Systems has earnings growth rate for fiscal fourth quarter of 2019 of 33.3%.
Quidel Corporation has a long-term earnings growth rate of 25%.
Heamonetics has a long-term earnings growth rate 13.5%.
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