Masimo shareholders vote ‘no’ on executive pay

Masimo CEO Joe Kiani [Image courtesy of Masimo]Masimo (Nasdaq: MASI) shareholders recently voted to advise against the company’s compensation package for top executives.

About 52.6% of voting shareholders voted against the patient monitoring tech company’s handling of executive pay in what’s known as the Say-on-Pay vote, according to vote results of the May 26 meeting filed with the SEC yesterday. The vote comes on the heels of Say-on-Pay votes at Zimmer Biomet and Henry Schein in which support from investors was lackluster.

In fact, dozens of major U.S. companies — including JPMorgan, Intel and Coca-Cola — have faced shareholder rebukes over executive pay this year, according to a report from The Wall Street Journal. The newspaper cited the trend as part of an overall increase in investor scrutiny of corporate governance — as well as social and environmental issues.

A Masimo spokesperson could not be immediately reached for comment.

Because th…

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Masimo shareholders vote ‘no’ on executive pay

Masimo CEO Joe Kiani [Image courtesy of Masimo]

Masimo (Nasdaq:MASI) shareholders recently voted to advise against the company’s compensation package for top executives.

About 53% of voting shareholders voted against the patient monitoring tech company’s handling of executive pay in what’s known as the ‘Say-on-Pay’ vote, according to vote results of the May 26 meeting filed with the SEC yesterday. The vote comes on the heels of Say-on-Pay votes at Zimmer Biomet and Henry Schein in which support from investors was lackluster.

In fact, dozens of major U.S. companies — including JPMorgan, Intel and Coca-Cola — have faced shareholder rebukes over executive pay this year, according to a report from The Wall Street Journal. The newspaper cited the trend as part of an overall increase in investor scrutiny of corporate governance — as well as social and environmental issues.

A Masimo spo…

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Masimo beats Street in Q1 but stock dips amid ‘unexpected’ supply chain issues

Masimo (Nasdaq:MASI) shares were down after hours on first-quarter results that topped the consensus forecast.

MASI shares were down 6.8% at $110 per share after hours today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.2%.

The Irvine, California-based company posted profits of $46.6 million, or 81¢ per share, on sales of $304.2 million for the three months ended April 2, 2022, for a 12.7% bottom-line slide despite sales growth of 1.7%.

Adjusted to exclude one-time items, earnings per share were 93¢, 6¢ ahead of Wall Street, where analysts were looking for sales of $303.8 million.

“We experienced strong demand for our products during the quarter while facing some unexpected supply chain challenges,” Masimo Chair and CEO Joe Kiani said in a news release. “Our actions to address those issues are ongoing and we still expect to achieve the growth …

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Masimo announces limited consumer release of W1 health watch

Former professional tennis player Tommy Haas said the Masimo W1 health watch provides a convenient way to continuously track vitals. [Image courtesy of Masimo]Masimo (Nasdaq: MASI) today announced that it will make its much-anticipated W1 health watch available to 10,000 early adopters.

The select group can buy the W1s on a first-come, first-served basis at a 50% discount, according to Masimo. The goal is to collect feedback from the early adopters as the Irvine, California–based company better refines the digital health product.

The W1 measures multiple health parameters, including oxygen saturation, pulse rate, perfusion index, pleth variability index (PVi) and respiration rate. It also provides step count and fall detection. The watch pairs via secure Bluetooth to the Masimo Personal Health smartphone app.

“I’ve always believed in the power of data to improve my performance. Accurate vital sign measurements have helped me track my activity and recovery b…

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Masimo says study supports using SedLine brain monitoring during cardiac surgery

[Image from Masimo]Masimo (Nasdaq:MASI) announced today that a retrospective study backed the use of its SedLine brain function monitoring system.

Irvine, California-based Masimo’s study investigated the impact of anesthesia during cardiac surgery guided by SedLine monitoring. The company published the findings in the Journal of Cardiothoracic and Vascular Anesthesia.

According to a news release, Dr. André Denault and colleagues at the Montreal Heart Institute and Centre Hospitalier de l’Université de Montréal studied the use of SedLine’s processed electroencephalography (pEEG) feature, the Patient State Index (PSi). Masimo said the study is the first to primarily explore the impact of pEEG-guided anesthesia on vasoactive and inotropic drugs.

The study’s findings demonstrated that pEEG-guided anesthesia was associated with a reduction in the use of such drugs along with less use of anesthetic agents and opioids in the OR. It also led to lo…

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Masimo completes acquisition of Sound United

Masimo (Nasdaq:MASI) announced today that it completed its previously announced acquisition of Sound United.

Irvine, California-based Masimo announced in February that it would spend $1.025 billion to acquire Viper Holdings, the parent company of Sound United. Wall Street’s response saw Masimo’s stock drop by 35%, with analysts unsure about the consumer tech acquisition, saying it left them with “more questions than answers.”

However, the market quickly reconsidered its position on the acquisition, as Masimo’s stock climbed over the following days, with Needham analyst Mike Matson saying that that the sell-off was “overdone” and the deal is expected to be highly accretive to Masimo’s earnings per share.

In response to today’s announcement, BTIG analyst Marie Thibault wrote that investors’ focus revolves around “gaining clarity around the combination,” including the key areas of produ…

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FDA clears Masimo SedLine brain function monitor, EEG for pediatrics

[Image from Masimo]Masimo (NSDQ:MASI) announced today that it received FDA clearance for its SedLine monitoring and SedLine pediatric EEG sensor.

Clearance covers Sedline brain functioning monitoring for pediatric patients (between one and 17 years of age), along with the pediatric EEG sensor.

Irvine, California-based Masimo said in a news release that the clearance expands SedLine’s benefits to all patients aged one and up in the U.S. as it allows clinicians to monitor brain activity bilaterally with the company’s advanced signal processing technology. The platform processes electroencephalogram (EEG) signals from the four-lead SedLine EEG sensors.

The clearance allows for Masimo’s bilateral brain activity monitoring to be used in children in conjunction with specially sized pediatric sensors designed for easier application on smaller foreheads.

Masimo said that maintaining an appropriate depth of anesthesia is key to preventing an…

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Investors may have overreacted over Masimo

[Image from Pixabay]The Street appears to be reassessing its reaction to Masimo’s plans to spend $1.025 billion to acquire Viper Holdings, the parent company of Sound United.

The news of the acquisition plans on the evening Feb. 15 caused the patient monitoring tech company’s stock to lose a third of its value the next day. While MASI shares are still down more than 29% over the past five days on the Nasdaq as of this morning, the company’s stock has recovered a bit since the initial fall.

Analysts appear to be gaining more perspective over Masimo’s plans to acquire the company behind high-end sound system brands including Bowers & Wilkins, Denon, Polk Audio and Marantz.

“While we understand investors’ consternation over the Sound United deal, we believe that the sell-off was overdone and note that we expect the deal to be highly accretive to EPS, and we believe that investors get a free call option on MASI’s co…

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Masimo stock falls as The Street ponders $1B Sound United acquisition

Masimo (Nasdaq: MASI) stock lost nearly a third of its value the morning after the company said it would spend $1.025 billion to acquire Viper Holdings, the parent company of Sound United.

Sound United is behind consumer tech brands including Bowers & Wilkins, Denon, Polk Audio and Marantz, making high-end sound and home theater systems. Think sophisticated speaker systems.

“We see significant opportunities to cross-leverage technologies, bringing Masimo’s clinically superior solutions into the home and on-the-go as well as bringing Sound United’s premium technologies into the hospital to advance our hospital automation connectivity and cloud-based technologies,” Masimo CEO Joe Kiani said in a news release.

“The technology and expertise within Sound United will serve us well as we aim to augment our Masimo SafetyNet strategy.”

The BTIG analysts note on the deal had the headline “MASI’s consumer tech acquisit…

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How medtech fared in the first waves of the pandemic

[Photo by Martin Sanchez on Unsplash]Medtech industry revenue, research spending and employment declined in the first year of the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data.

Total sales, R&D spending and employment for the world’s largest medical device companies declined in 2020 and early 2021, according to a Medical Design & Outsourcing analysis tallying the ongoing pandemic’s initial toll on the industry.

To compare performance before and during the pandemic, MDO used the financial data that we’ve historically gathered to rank our Big 100 companies in the last three years. The majority of these companies reported full-year results for 2020; others operate on a fiscal year and reported annual results in the first half of 2021.

Some companies are not in this year’s Big 100 but were included in the analysis because they were ranked in pre-pandemic years. The handful of companies that joined this yea…

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How medtech fared in the first waves of the pandemic

[Photo by Martin Sanchez on Unsplash]

Medtech industry revenue, research spending and employment declined in the first year of the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data.

Total sales, R&D spending and employment for the world’s largest medical device companies declined in 2020 and early 2021, according to a Medical Design & Outsourcing analysis tallying the ongoing pandemic’s initial toll on the industry.

To compare performance before and during the pandemic, MDO used the financial data that we’ve historically gathered to rank our Big 100 companies in the last three years. The majority of these companies reported full-year results for 2020; others operate on a fiscal year and reported annual results in the first half of 2021.

Some companies are not in this year’s Big 100 but were included in the analysis because they were ranked in pre…

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Masimo seeks to boost automation of newborn screenings in Europe

[Image from Masimo]Masimo (NSDQ:MASI) announced earlier this week that it launched a new patient monitoring and connectivity hub.

The first application of Dual SET Oximetry for Root offers a significant advancement to the company’s Masimo SET-guided critical congenital heart disease (CCHD) screening, according to a news release. Masimo will combine the platform with the CE-marked Masimo SET MOC-9 module and the Eve CCHD newborn screening application for Root to enhance the automation of newborn screenings using Dual SET Oximetry.

Get the full story at our sister site, Medical Design & Outsourcing.

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