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Masimo

Masimo Corp is a global technology company. The company's segment includes healthcare and non-healthcare. The healthcare business segment is a key revenue driver, develops, manufactures, and markets a variety of noninvasive patient monitoring technologies, hospital automation and connectivity solutions, remote monitoring devices and consumer health products. Its non-healthcare segment includes consumer audio business develops, manufactures, markets sells and licenses premium and luxury audio sound products and related integration technologies.

Masimo Corp

MASIMO ORD

Masivo Silver Corp

As of Oct. 10, 2024, two stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Travere Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TVTX#NASDAQ">TVTX</a>)</h3>
<ul>
<li>On Sept. 26, Travere Therapeutics announced a voluntary pause of enrollment in its Phase 3 HARMONY study of Pegtibatinase. The company's stock gained around 27% over the past five days and has a <a href="https://www.benzinga.com/quote/TVTX">52-week high of $17.77</a>.</li>
<li>RSI Value: 86.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>TVTX Price Action: Shares of Travere Therapeutics gained 15.7% to close at $17.59 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Masimo Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>)</h3>
<ul>
<li>Michelle Brennan, a current member of Masimo's Board, has taken on the role of interim Chief Executive Officer, after Joe Kiani announced his resignation as CEO. In a regulatory filing, the company disclosed that, on September 19, Kiani filed a claim in California state court relating to his employment agreement, as amended, seeking declaratory relief that he had validly terminated his employment for "Good Reason." Masimo said its Board is evaluating Kiani's notice as well as his lawsuit against the company. The company's stock gained around 25% over the past month and <a href="https://www.benzinga.com/quote/MASI">has a 52-week high</a> of $153.93.</li>
<li>RSI Value: 75.44</li>
<li>MASI Price Action: Shares of Masimo rose 2.5% to close at $143.49 on Wednesday.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41266054/s-p-settles-at-record-high-as-apple-amazon-shares-surge-investor-optimism-improves-ahead-of-inflati">S&amp;P Settles At Record High As Apple, Amazon Shares Surge: Investor Optimism Improves Ahead Of Inflation Data</a></li>
</ul>

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Pre-Market Outlook

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MASI

TVTX

Top 2 Health Care Stocks That Are Ticking Portfolio Bombs

In the current market session, Masimo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) stock price is at $131.50, after a 1.37% drop. However, over the past month, the company's stock increased by 17.92%, and in the past year, by 62.48%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1727812840_0.png" alt="Past Year Chart" />

<h3>Evaluating Masimo P/E in Comparison to Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 299.87 in the Health Care Equipment &amp; Supplies industry, Masimo Inc. has a lower P/E ratio of 90.74. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1727812840_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

A Look Into Masimo Inc's Price Over Earnings

Needham analyst Mike Matson reiterates Masimo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) with a Hold.

Reiteration

Analyst Ratings

Needham Reiterates Hold on Masimo

Masimo Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Wednesday.</a>
Michelle Brennan, a current member of Masimo&#8217;s Board, has taken on the role of interim Chief Executive Officer, after Joe Kiani<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41024122/masimo-provides-leadership-and-business-updates" rel="noreferrer noopener"> announced his resignation as CEO.</a>
In a regulatory <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/937556/000093755624000085/masi-20240925.htm" target="_blank" rel="noreferrer noopener">filing</a>, the company disclosed that, on September 19, Kiani filed a claim in California state court relating to his employment agreement, as amended, seeking declaratory relief that he had validly terminated his employment for &#8220;Good Reason.&#8221; Masimo said its Board is evaluating Kiani&#8217;s notice as well as his lawsuit against the company.
In addition, Darlene Solomon and Bill Jellison, both Politan Capital Management nominees who were elected by shareholders at the Annual Meeting held on September 19, have officially joined the Board. <a href="https://www.benzinga.com/pressreleases/24/09/b40949366/politan-comments-on-results-of-masimos-2024-annual-meeting" target="_blank" rel="noreferrer noopener">Joe Kiani was not elected to board at the meeting.</a>
Earlier, Masimo&#8217;s annual meeting of stockholders, previously scheduled for July 25, was moved to September 19. Masimo had filed a lawsuit in federal court against Politan and its founder and CIO Quentin Koffey. <a href="https://www.benzinga.com//node/39786133" target="_blank" rel="noreferrer noopener">Koffey is also a member of the Masimo Board.</a>
Also, the company said its Board remains committed to the previously announced review of alternatives for both the consumer audio and consumer healthcare businesses. They are eager to share updates soon about value-creation initiatives, including the ongoing strategic review.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/03/37911441/patient-monitoring-device-maker-masimo-contemplates-separation-of-consumer-business-as-activist-in" rel="noreferrer noopener">Patient Monitoring Device Maker Masimo Contemplates Separation of Consumer Business As Activist Investor Seeks Expanded Board Presence</a>
For the third quarter of 2024, Masimo reiterated its non-GAAP financial guidance<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> previously provided on August 6, 2024.</a>
The company sees FY24 revenues of $2.085 billion to $2.135 billion versus the $2.1 billion estimate. Masimo sees FY24 earnings per share of $3.80 to $4.00 versus $3.88 estimate.
&#8220;We are excited about the strong momentum of the business and its future prospects for growth. We look forward to providing more details on the upcoming third-quarter earnings call next month,&#8221; said Chief Financial Officer Micah Young and Chief Operating Officer Bilal Muhsin.
Masimo expects third-quarter revenue to be between $495 million and $515 million, compared to an estimate of $502.19 million and anticipates adjusted EPS of $0.81 to $0.86 versus the $0.84 estimate.
Price Action: MASI shares are trading higher by 5.55% to $133.19 at last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/09/41026587/cintas-beats-q1-earnings-on-margin-strength-boosts-outlook" target="_blank" rel="noreferrer noopener">Cintas Beats Q1 Earnings On Margin Strength, Boosts Outlook</a></li>
</ul>

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Masimo Names Interim CEO As Activist Board Members Step In; Joe Kiani Exits Amid Legal Clash

WIIM

Masimo Corp shares are trading higher after the company provided updates on its leadership and business.

Appoints Michelle Brennan as Interim CEO Following Joe Kiani's Decision to Resign
Continues to Be Committed to Review of Strategic Alternatives for Consumer Businesses, With Assistance From Leading Financial and Legal Advisors
Reaffirms Financial Guidance for Third Quarter 2024
Today the Board of Directors (the "Board") of Masimo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) a leading global medical innovator, provided a series of leadership and business updates:
Leadership Appointments
Michelle Brennan, a current member of Masimo's Board, has been appointed interim Chief Executive Officer ("CEO") following Chairman and CEO Joe Kiani informing the Board of his decision to resign as CEO. After being elected by shareholders at the recent Annual Meeting, Darlene Solomon and Bill Jellison have been officially appointed to the Board. These changes are all effective immediately.
The Board has retained nationally recognized search firm Korn Ferry to assist in CEO succession planning.
Ms. Brennan was elected to the Board in 2023, and previously served as a senior executive at Johnson &amp; Johnson ("J&amp;J") for more than 30 years, where she oversaw medical device businesses globally as well as consumer pharmaceutical businesses. At J&amp;J, Michelle successfully scaled multiple businesses to achieve market-leading growth and led efforts to invest in innovation that resulted in successful new product launches.
Ms. Brennan commented:
"I am grateful for the trust of the Board and excited by the opportunity to help Masimo continue to grow and lead as an innovation-focused company. As we go through this transition, the Board and management team are excited to learn from and work with our employees, while focusing on ensuring seamless service and support for our customers."
Consumer Business Review
The Board remains committed to the previously announced review of alternatives for both the consumer audio and consumer healthcare businesses. The Board has engaged Centerview Partners and Morgan Stanley as financial advisors and Sullivan &amp; Cromwell as a legal advisor. The Board looks forward to providing updates in the near-term regarding value-creation initiatives, including this strategic review.
Reaffirming Guidance
For the third quarter of 2024, Masimo is reiterating its non-GAAP financial guidance previously provided on August 6, 2024. Masimo's previous guidance can be found <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.masimo.com%2Fnews%2Fnews-details%2F2024%2FMasimo-Reports-Second-Quarter-2024-Financial-Results%2Fdefault.aspx&amp;esheet=54126956&amp;newsitemid=20240925416822&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=c91fdc0964f829c5f6798019761462eb">here</a>.
Chief Financial Officer Micah Young and Chief Operating Officer Bilal Muhsin, added:
"We are excited about the strong momentum of the business and its future prospects for growth. We look forward to providing more details on the upcoming third quarter earnings call next month."

Masimo Provides Leadership And Business Updates; Appoints Michelle Brennan As Interim CEO Following Joe Kiani's Decision To Resign, Reaffirms Financial Guidance For Q3 2024

Masimo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>) shares soared 8.7% in the last trading session to close at $121.42. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock&#39;s 8.5% loss over the past four weeks.
The sharp upsurge in Masimo&#39;s shares can be attributed to the surprising news regarding the company&#39;s newly elected Board of Directors. On Sept. 19, per a public statement issued from Politan, activist investor Quentin Koffey, and his Politan Capital Management group&#39;s proposed candidates, both won election to the two available Board seats of Masimo. This guarantees that the new independent directors now have a control of the Board. On Sept. 20, the share price of MASI surged as the investors continued to celebrate the news in a positive view that the new Board is likely to be more conscious of and responsive to the investors.
This medical technology company is expected to post quarterly earnings of $0.84 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $501.93 million, up 4.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Masimo, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock&#39;s price usually doesn&#39;t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MASI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy).
Masimo is part of the Zacks Medical - Instruments industry. CVRx (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvrx#NASDAQ">CVRX</a>), another stock in the same industry, closed the last trading session 1.5% lower at $9.11. CVRX has returned 10.9% in the past month.
For CVRx, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.45. This represents a change of -4.7% from what the company reported a year ago. CVRx currently has a Zacks Rank of #3 (Hold).
<a href="https://www.zacks.com/stock/news/2339653/masimo-masi-surges-8-7-is-this-an-indication-of-further-gains?cid=CS-BENZ-FT-tale_of_the_tape|daily_price_change_3%-2339653">To read this article on Zacks.com click here.</a>

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Masimo Surges 8.7%: Is This an Indication of Further Gains?

Politan Capital Management (together with its affiliates, "Politan"), a 9% shareholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), today commented on the outcome of the Company's Annual Meeting of Stockholders (the "Annual Meeting").
Both of Politan's independent nominees – Darlene Solomon and William Jellison – were elected to the Board.1 Politan greatly appreciates the support and engagement from its fellow Masimo shareholders during this process.
Darlene Solomon, William Jellison, Michelle Brennan and Quentin Koffey issued the following joint statement:
"While each of us is independent and brings our own unique perspectives, we are united in our enthusiasm for Masimo's future as a leading, innovation-focused growth company. We look forward to meeting with, learning from, and working together with the Healthcare and Consumer employees to make Masimo an even greater company. We would also like customers to know that we will be completely focused on preventing any disruption to their service and support. We will have more to share soon."

Politan Comments On Results Of Masimo's 2024 Annual Meeting, Both Of Politan's Independent Nominees Darlene Solomon And William Jellison Were Elected To The Board

Politan is&nbsp;an&nbsp;8.9%&nbsp;shareholder of Masimo Corporation.&nbsp;

Politan Capital Management Says Glass Lewis Reiterates Recommendation That Masimo Shareholders Vote For Both of Politan's Independent Director Nominees

QCOM

Reported Saturday, Masimo And Qualcomm Partner To Launch Next-Generation Smartwatch Platform For OEMs, Expanding Wear OS Capabilities

Comprehensive Smartwatch Reference Platform to Include Key Hardware and Software Components, Including Industry-leading Masimo Biosensing Capabilities

GOOG

Reported Friday, Masimo Partners With Google To Develop Smartwatch Reference Platform For OEMs Using Wear OS

ISS and Glass Lewis Based Recommendations Upon Politan's Lies; Egan-Jones Recommends "FOR" Both of Masimo's Director Nominees Following Multiple Corrective Disclosures by Politan
Control of Masimo Depends on September 19 Vote – Stockholders Urged to Vote "FOR" Only Masimo's Director Nominees, Joe Kiani and Christopher Chavez, on the Updated GOLD Proxy Card
Masimo Corporation ("Masimo" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), a global leader in noninvasive monitoring technologies and audio products, today set the record straight in response to Politan Capital Management LP ("Politan") and Quentin Koffey's preemptive press release regarding an order from the U.S. District Court for the Central District of California that is still under seal.
Masimo's lawsuit forced Politan to issue several new disclosures, including on the morning of the hearing, to correct its false and misleading statements and to provide material information Politan previously concealed from Masimo stockholders, ISS and Glass Lewis. These false and misleading statements include:
<ul>
<li>Politan and Quentin Koffey Lied About the Spin-off. Mr. Koffey falsely claimed that the Special Committee had unanimously rejected the term sheet he had previously agreed upon with Mr. Kiani. In fact, Politan's corrective disclosures revealed that Mr. Koffey never shared the agreed upon term sheet with any other member of the Special Committee.</li>
<li>Politan and Quentin Koffey Lied About the Board's Role in the Sale Process. Mr. Koffey falsely claimed that the Board authorized Mr. Kiani to carry out a sale of the Company without further Board oversight. In fact, Politan's corrective disclosures revealed that Mr. Koffey knew this not to be true.</li>
<li>Politan and Quentin Koffey Lied About the Outcome of the Sale Process. Mr. Koffey falsely implied that Mr. Kiani unilaterally rejected offers for Masimo because those offers didn't satisfy Mr. Kiani personally. In fact, Politan's corrective disclosures revealed that Mr. Koffey knew that Masimo had not received or rejected any offers.</li>
</ul>
Masimo issued the following statement:
"Politan and Quentin Koffey have relied on misleading and false statements to distract both stockholders and proxy advisory firms from their lack of a plan or strategy for Masimo. In stark contrast, Masimo has made concrete commitments to usher in changes that stockholders have said they want, including separating our consumer business and expanding the Board with more independent directors. Our recent earnings clearly show that our strategy is working. We urge stockholders not to put this momentum at risk by handing control to an inexperienced team with no strategy or leadership plan for the business, particularly in light of the fact that Mr. Kiani has been clear about his intentions to depart the Company should Politan gain control of the Board. Masimo's COO, Bilal Muhsin, has also declared his intent to resign if Politan gains control of the Board, and more than three hundred other employees, including senior executives, have expressed that they may follow suit."

Masimo Says "Politan And Quentin Koffey Have Relied On Misleading And False Statements To Distract Both Stockholders And Proxy Advisory Firms From Their Lack Of A Plan Or Strategy For Masimo"; ISS And Glass Lewis Based Recommendations; Egan-Jones Recommends "For" Both Of Masimo's Director Nominees Following Multiple Corrective Disclosures By Politan

Judge Found that Masimo's Endless Array of Allegations Did Not Hold Up in Court
Ruling Clears Way for the Shareholder Vote to Proceed on September 19
Shareholders Can Vote for Politan's Independent Nominees, Darlene Solomon and William Jellison, on the WHITE Card and Can Visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.AdvanceMasimo.com&amp;esheet=54121147&amp;newsitemid=20240912139163&amp;lan=en-US&amp;anchor=www.AdvanceMasimo.com&amp;index=1&amp;md5=e1ec80cf7545d98eabaf4870cf3dfed7">www.AdvanceMasimo.com</a> for Further Information
Politan Capital Management (together with its affiliates, "Politan"), an 8.9% shareholder of Masimo Corporation ("Masimo" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>), issued the following statement regarding last night's ruling in California federal court denying Masimo's attempt to block Politan from voting the proxies it collects. The full opinion is currently under seal while determinations are made regarding redacting any confidential information it contains. The Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting") is currently scheduled for September 19.

Politan Capital Management Comments On Judge's Decision To Deny Masimo's Request For A Preliminary Injunction; Says Ruling Clears Way For The Shareholder Vote On Politan's Independent Nominees To Proceed On September 19

Biotech

AAPL

INSP

TEVA

VVOS

Apple Announces New Sleep Apnea Features On Apple Watch; Stocks With The Same Technology See Volume

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.masimo.com&amp;esheet=54118830&amp;newsitemid=20240908136612&amp;lan=en-US&amp;anchor=Masimo&amp;index=1&amp;md5=34c96fb7c39ca290fc395f6f1f3b2eb9">Masimo</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MASI#NASDAQ">MASI</a>) today announced that <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ch-stdenis.fr%2Factus%2Fla-solution-safetynet-de-masimo-deployee-au-service-neonatologie&amp;esheet=54118830&amp;newsitemid=20240908136612&amp;lan=en-US&amp;anchor=Saint-Denis+Hospital+Center&amp;index=2&amp;md5=c4cd9ee4d67559f47b53d90be3985b26">Saint-Denis Hospital Center</a> is adopting the use of the Masimo SafetyNet&#xAE; cloud-based telemonitoring platform as part of an experimental mobile neonatology unit aimed at facilitating earlier discharge of premature newborns from the ICU to the home. Launched in February, this pioneering project allows vulnerable neonates to return home safely to their families while remaining under the close supervision of the hospital.

Masimo's New Tech Enables Early ICU Discharge for Premature Babies at Saint-Denis Hospital

<a href="https://www.cnbc.com/2024/09/06/masimo-ceo-shared-confidential-information-ahead-of-release-documents.html">https://www.cnbc.com/2024/09/06/masimo-ceo-shared-confidential-information-ahead-of-release-documents.html</a>
<ul>
<li>Masimo CEO Joe Kiani revealed what he called material non-public information to a major investor in March, 12 hours before it was released to the public, according to court filings.</li>
<li>The documents, partially unsealed on Friday, are related to ongoing litigation between Politan and Masimo.</li>
<li>Politan is in the midst of its second proxy battle with Masimo, which makes devices for monitoring how much blood is in a person's oxygen.</li>
</ul>
<a href="https://www.cnbc.com/quotes/MASI/">Masimo</a> CEO Joe Kiani, whose medical-technology company is in the midst of a proxy battle with activist Politan, revealed what he called confidential information to a major investor 12 hours before it was released to the public, according to court filings.
The documents, partially unsealed on Friday, are related to ongoing litigation between Politan and Masimo, which makes devices for monitoring the amount of blood in a person's oxygen. Politan is seeking to replace two directors, including Kiani, with its own candidates at a shareholder meeting later this month.
&nbsp;
Included in the latest filing is a March email from Kiani to Dr. Naveen Yalamanchi, a portfolio manager at RTW Investments, informing him about an announcement that was coming the following day. The unsealed documents show other calls and messages between Kiani and employees of RTW, a New York-based firm that focuses on health care.
In addition to taking on Masimo, Politan has accused RTW of a so-called empty voting scheme, or voting its shares in favor of management's slate of directors even though it no longer actually owned the shares underlying its votes.
Other documents unsealed on Friday indicate that Masimo was aware of RTW's efforts. They include communications from Masimo advisors showing that the company was aware RTW was amassing a large position and was supportive of Kiani's leadership.
"As a long term shareholder, I wanted to see what you think of this PR before we put it out," Kiani wrote in an email, titled "Confidential PR and 8K for tomorrow before the market opens."
The filing that was published the next day confirmed activist investor Politan had initiated its second proxy fight and was nominating two board members. Politan has pointed to Masimo's underperformance and Kiani's disastrous acquisition of a consumer business two years ago, and has been pushing the company to explore a spinoff.
&nbsp;
<a href="https://www.wsj.com/business/deals/activist-politan-plans-second-proxy-battle-at-masimo-dc212962">The Wall Street Journal</a> had, the previous week, reported that the second proxy fight was going to be launched.
Masimo is best known for its <a href="https://www.cnbc.com/2024/01/17/apple-again-banned-from-selling-watches-in-us-with-blood-oxygen-sensor.html">litigation</a> with <a href="https://www.cnbc.com/quotes/AAPL/">Apple</a> over the company's use of pulse-oximetry technology in the Apple Watch. Kiani is also a close friend to <a href="https://www.cnbc.com/joe-biden/">President Joe Biden</a> and has donated to his campaigns. One of Kiani's top advisors in the proxy fight is Greg Schultz, who was Biden's campaign manager in 2020.
"Please don't trade on anything until this is out, which is going to go out before the market opens tomorrow morning," Kiani wrote in the email to Yalamanchi. The message included two attachments and a timestamp indicating when the press release would publish.
An SEC rule known as Regulation FD requires that if a company makes information available to certain individuals, including large shareholders, it must promptly make that information available to everyone.
Politan launched an earlier proxy battle at Masimo, resulting in the activist getting two board seats in 2023, including one for managing partner Quentin Koffey.
A spokesperson for Masimo declined to comment. A representative for Politan didn't immediately return a request for comment.

Legal

'Masimo CEO Shared Confidential Information With Investor Ahead Of Public Release, Court Filing Shows' - CNBC

Company to Donate&nbsp;$100,000&nbsp;of Stork&trade; Smart Home Baby Monitoring Systems and Take Part in a March of Dimes Donation Matching Programmasi

Masimo Collaborates With March Of Dimes To Assist NICU Parents In Transitioning Their Babies From Hospital To Home

Alcon (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alc#NYSE">ALC</a>) has been gaining from a strong pipeline and its focus on research and innovation. Market share gains also aid growth. The stock currently carries a Zacks Rank #2 (Buy).
In Presbyopia-correcting Intraocular Lens (PCIOLs), Alcon currently leads the market with more than 60% share globally and over 80% share in the United States. In Surgical, the company maintains a strong market share in PCIOLs, driven by strong demand for products like PanOptix and Vivity despite new market entrants. Vivity&#39;s non-diffractive properties, ease of use and consistency of surgical outcomes make it particularly appealing.
Within Surgical, Alcon commercially launched SMARTCataract in the United States. This is expected to broaden the scope of the company in the growing surgical ophthalmology space. The company currently sees meaningful share gains driven by its new toric product launches, including Precision1, Total30 and Dailies Total1.
The company will offer a cataract-only system called UNITY CS, which will be available in 2026. Importantly, UNITY brings with it new and innovative consumables that drive incremental benefits for the surgeon. The launch of these instruments will help the company secure the next decade of the company&#39;s consumables business, which is a large, recurring and profitable revenue stream.
In ocular health, the company is also expanding business with the integration of Rocklatan and Rhopressa and concluded Phase 3 trials for AR-15512, the dry-eye pharmaceutical candidate. In addition, the company is witnessing growth in its over-the-counter portfolio, mainly driven by favorable pricing and a sustained family of products. The company looks forward to the growing demand for its multi-dose preservative-free formulations, which are helping expand the U.S. preservative-free category.
Alcon&#39;s Surgical business continues to gain from a diverse portfolio and incremental innovation. In terms of the latest developments within Implantables, Alcon&#39;s technology continues to lead the market. Globally, one out of every three IOLs implanted is done with an Alcon lens. In premium lenses, the statistic is even more impressive, with one out of two ATIOLs being an Alcon product. The company&#39;s flagship lenses, Vivity and PanOptix, continue to lead the category in the United States and around the world. Additionally, it continues to expand in areas where it has significant opportunities to grow share, such as China.
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<h3>Alcon Price</h3>
<img alt="Alcon Price" src="https://staticx-tuner.zacks.com/images/charts/62/1724161553.png" style="height:251px; width:538px" title="" />
Alcon price | Alcon Quote
Within the Surgical franchise, revenues were up 6% year over year in the first quarter, mainly driven by advanced technology intraocular lenses, including Vivity, PanOptix and monofocal torics in international markets.
</div>
Within Vision Care, Alcon is registering solid growth, banking on strong sales of its contact lenses and ocular health products. In contact lenses, the company is successfully executing its strategy of investing in fast-growing market segments where it has significant share opportunities. As a result, Alcon is outpacing market growth in every category where it has launched new products.
In contact lenses, Alcon with its strategic investments, has secured its position as one of the fastest-growing companies. It is witnessing strong interest in its specialty lenses, including multifocal and toric.
On the flip side, Alcon is experiencing inflationary pressure in electronic components, freight, labor, resins and plastics, impacting the company&#39;s margins. The company is also encountering supply chain challenges in certain components, including microchips, resins and plastics, metals and filters. The company expects these inflationary pressures and supply chain challenges to continue in 2024. The cost of net sales in the first quarter was up 2.9% year over year. Our model estimates a 5.4% increase in the metric for full-year 2024.
Meanwhile, the ophthalmology industry is highly competitive. In the surgical business, Alcon competes with large manufacturers with multiple business lines as well as small manufacturers that offer a limited selection of specialized products. The company also&nbsp;faces competition&nbsp;from&nbsp;providers&nbsp;of&nbsp;alternative&nbsp;medical&nbsp;therapies,&nbsp;such&nbsp;as&nbsp;pharmaceutical&nbsp;companies that have&nbsp; the potential to disrupt core elements of its business.
In vision care business, the market for contact lenses is intensely competitive and is characterized by declining sales volumes for older and reusable product lines and growing demand for daily lenses and advanced materials lenses. Increased product entries from contact lens manufacturers in Asia also pose a massive threat.
<h3>Other Key Picks</h3>
Some other top-ranked stocks in the broader medical space are Masimo (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>), Boston Scientific (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bsx#NYSE">BSX</a>) and Myriad Genetics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mygn#NASDAQ">MYGN</a>). While Masimo sports a Zacks Rank #1 (Strong Buy) at present, Boston Scientific and Myriad Genetics carry a Zacks Rank #2 each.
Masimo shares have risen 10.8% in the past year. Estimates for the company&#39;s earnings have increased from $3.63 to $3.83 for 2024 and from $3.97 to $4.20 for 2025 in the past 30 days.
MASI&#39;s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 14.6%. In the last reported quarter, it posted an earnings surprise of 11.7%.
Estimates for Boston Scientific&#39;s 2024 earnings per share have moved up to $2.40 from $2.32 in the past 30 days. Shares of the company have rallied 56% in the past year compared with the industry&#39;s rise of 11.1%.
BSX&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%. In the last reported quarter, it delivered an earnings surprise of 6.9%.
Estimates for Myriad Genetics&#39; 2024 earnings have moved up to 5 cents from 3 cents per share in the past 30 days. Shares of the company have improved 59.3% in the past year against the industry&#39;s 3.1% fall.
MYGN&#39;s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 213.4%. In the last reported quarter, it delivered an earnings surprise of a staggering 600%.
<a href="https://www.zacks.com/stock/news/2324522/alcon-s-alc-market-share-gains-new-launches-aid-growth?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2324522">To read this article on Zacks.com click here.</a>

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MYGN

Alcon's Market Share Gains, New Launches Aid Growth

Accuray Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aray#NASDAQ">ARAY</a>) and Halifax Health announced a breakthrough in cancer treatment at the Charles L. and Miki N. Grant Cancer Center for Hope in Port Orange, FL. The center&#39;s medical team became the first in the United States to treat cancer patients using Accuray&#39;s Radixact System with VitalHold technology. This innovative system is designed to enhance the precision of radiation therapy by improving patient positioning and monitoring throughout the treatment process, offering a new standard of care for a wide range of cancer cases, including breast cancer.
<h3>Significance of Radixact</h3>
Per Accuray, Radixact System, backed by VitalHold and other advanced technologies like ClearRT helical CT imaging and Synchrony real-time adaptive delivery, represents a significant advancement in radiotherapy. VitalHold&#39;s surface-guided radiotherapy (SGRT) ensures accurate patient positioning, improving the reproducibility of treatments and enabling deep inspiration breath hold techniques. This minimizes radiation exposure to critical organs, reducing long-term complications. The system&#39;s tattoo-free positioning further enhances patient experience, making radiation therapy more comfortable and cosmetically appealing.
The anticipated 35% increase in new cancer cases in the United States by 2040 underscores the critical need for advanced resources. Accuray&#39;s Radixact System, equipped with the VitalHold feature, is designed to meet this challenge by providing precise, high-quality radiation therapy from simulation through delivery. Management highlighted the partnership with Halifax Health, where the first U.S. patients have been treated using this innovative system, as a testament to its commitment.
<h3>Industry Prospects</h3>
Per a report in Precedence Research, the global radiation therapy market size is expected to be worth $7.47 billion in 2024. It is anticipated to reach $16.30 billion by 2033 at a CAGR of 8.6%.
The robust growth will be primarily driven by the increasing incidence of cancer, leading to higher demand for radiation therapy. Additionally, advancements in radiation therapy technology, including enhanced ionizing radiation and improved efficiency in targeting cancerous cells, are boosting its effectiveness and utilization in oncology.
Growing awareness about the benefits of advanced radiation therapy, along with initiatives to educate the public, is also accelerating market growth. The integration of innovative features and software systems in radiation therapy will enhance performance, driving increased demand and market value during the forecast period.
In June, Accuray announced that Heidelberg University Hospital in Germany is set to adopt its Radixact System, replacing its older TomoTherapy System.
<h3>Other Industry Players</h3>
Some other companies from the Medical Instruments industry making notable developments in their respective businesses are AngioDynamics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ango#NASDAQ">ANGO</a>), Intuitive Surgical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isrg#NASDAQ">ISRG</a>) and Masimo Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>). 
AngioDynamics is a pioneering medical technology company dedicated to advancing vascular health and cancer treatment.
In May, AngioDynamics received European CE Mark approval for its AlphaVac F1885 System, which is designed for the non-surgical removal of thrombi from pulmonary arteries and the treatment of pulmonary embolism.
Intuitive Surgical is a global leader in minimally invasive care and a pioneer of robotic surgery. Known for its da Vinci surgical system and Ion endoluminal system, Intuitive combines cutting-edge technology, advanced learning and supportive services to help healthcare providers deliver optimized patient care.
In June, Intuitive Surgical received FDA clearance for a labeling revision of its da Vinci X and Xi robotic systems specifically for radical prostatectomy. This update reflects real-world evidence showing that long-term survival rates for patients undergoing robotic-assisted radical prostatectomy are comparable to those receiving non-robotic procedures.
Masimo&#39;s a global medical technology company specializing in advanced monitoring technologies, including pulse oximetry, sensors, patient monitors and connectivity solutions. Known for its Masimo SET pulse oximetry, which has been proven to outperform other technologies in over 100 studies, Masimo&#39;s innovations have improved patient outcomes, particularly in neonates and post-surgical care.
This month, the Masimo W1 medical watch received FDA 510(k) clearance for connectivity with the Masimo SafetyNet telemonitoring solution. This integration allows the Masimo W1 watch, which provides continuous oxygen saturation and pulse rate measurements, to seamlessly transmit data to the Masimo SafetyNet app and clinician portal. This enables remote caregivers, including hospital clinicians, to monitor patient data from anywhere.
<a href="https://www.zacks.com/stock/news/2322538/accuray-s-aray-radixact-for-cancer-treatment-debuts-in-us?cid=CS-BENZ-FT-analyst_blog|company_news_medical_sector-2322538">To read this article on Zacks.com click here.</a>

Penny Stocks

ANGO

ARAY

ISRG

Accuray's Radixact for Cancer Treatment Debuts in US

Masimo gains as activist Politan Capital wins two board seats

Masimo gains as activist Politan Capital says it won two board seats

In a report released yesterday, Vik Chopra from Wells Fargo assigned a Buy rating to Masimo (MASI – Research Report), with a price target of $160.0...

Wells Fargo Gives a Buy Rating to Masimo (MASI)

In a report released on September 20, Marie Thibault from BTIG maintained a Buy rating on Masimo (MASI – Research Report), with a price target of $...

Buy Rating Affirmed on Masimo Amid Board Restructuring and Growth Prospects

Masimo Corporation: Too Much Uncertainty For Now

Masimo appoints new CEO, reaffirms Q3 guidance

The latest update is out from Masimo ( ($MASI) ). Masimo Corporation announced leadership changes as Michelle Brennan steps in as interim CEO follo...

Masimo Announces Executive Shift and Strategic Business Review

In a report released today, Michael Matson from Needham maintained a Hold rating on Masimo (MASI – Research Report). The company's shares opened to...

Needham Reaffirms Their Hold Rating on Masimo (MASI)

Wells Fargo analyst Vik Chopra maintained a Buy rating on Masimo (MASI – Research Report) yesterday and set a price target of $160.00. Vik Chopra h...

Buy Rating Affirmed on Masimo Following Leadership Changes and Stable Financial Outlook

Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Masimo (MASI – Research Report), Baxter Internatio...

Analysts Have Conflicting Sentiments on These Healthcare Companies: Masimo (MASI), Baxter International (BAX) and Merck & Company (MRK)

Press Releases

Politan Issues Statement From Legal Advisors Schulte Roth & Zabel and Munger, Tolles & Olson Regarding Masimo Proxy Contest

Masimo Issues Statement Following Court's Order Holding Politan and Quentin Koffey in Contempt and Finding Politan Made False Statements to Stockholders

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