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Masimo's Stock Up Following the New Tie-Up With Google to Boost Wear OS
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Masimo Corporation (MASI - Free Report) , on Friday, announced a partnership with Google. The tie-up aims to develop a new reference platform for original equipment manufacturers (OEMs) building Wear OS by Google smartwatches.
OEMs who adopt the new Masimo platform will continue to design and produce their new smartwatches’ physical exteriors. However, the devices’ interiors, including optimized hardware and software components, biosensors, and a companion Android smartphone app, will be provided by Masimo. This is expected to ensure superior performance and unmatched user experiences.
Health and wellness capabilities will feature the same biosensing innovations and analytics that power the Masimo W1 wearable and upcoming Masimo Freedom smartwatch. The Masimo reference platform will likely make these components, features and benefits available for smartwatch manufacturers building Wear OS smartwatches in an easy-to-implement, standardized package.
Following the announcement on Sept. 13, MASI’s shares have gained 1% till the last trading.
The latest partnership is expected to significantly strengthen Masimo’s patient monitoring business.
Rationale Behind MASI’s Tie-Up
Per Masimo, by incorporating its biosensing technologies and standardizing smartwatch devices using the Masimo reference platform, OEMs will be able to build more efficiently and bring high-performing Wear OS smartwatches to market. The company believes that the robust reference platform will likely support the fast-growing Wear OS ecosystem, including a suite of health and wellness tracking tools to provide accurate, reliable data, seamless integration with Android smartphones, and improved quality and experience.
Masimo’s management expects the new wearable platform to boost the smartwatch OEMs’ abilities to create innovative, competitive and truly compelling Wear OS smartwatches for consumers.
Per Wear OS, smartwatch makers are expected to be able to benefit from Masimo’s biosensing technology and quickly bring the Wear OS devices to market, at scale, with Masimo's reference platform.
Masimo’s Industry Prospects
Per a report by MarketsandMarkets, the global patient monitoring devices market is anticipated to reach from $48.5 billion in 2024 to $71.1 billion by 2029 at a CAGR of 8%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest tie-up is likely to provide a significant boost to Masimo’s business.
MASI’s Recent Partnerships
This month, Masimo announced its partnership with Qualcomm Technologies, Inc. to develop a next-generation smartwatch reference platform for OEMs building Wear OS by Google smartwatches.
The same month, Masimo announced that France-based Saint-Denis Hospital Center would be adopting the use of its SafetyNet 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.
Last month, Masimo launched a partnership with March of Dimes to support new parents with babies in the Neonatal Intensive Care Unit (NICU). Through this partnership, Masimo will support March of Dimes’ NICU Family Support program, which helps over 50,000 families nationwide as they navigate the NICU experience and the transition from hospital to home.
Masimo’s Share Price Performance
Shares of the company have gained 14.2% in the past year compared with the industry’s 18.2% rise and the S&P 500's 25.9% growth.
Image Source: Zacks Investment Research
MASI’s Zacks Rank & Other Key Picks
Currently, Masimo sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Baxter International Inc. (BAX - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
DaVita, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 17.5%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 24.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 65.6% compared with the industry’s 30.1% rise in the past year.
Baxter, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 10%. BAX’s earnings surpassed estimates in each of the trailing four quarters, with the average being 3.7%.
Baxter has gained 3.9% compared with the industry’s 20.3% rise in the past year.
Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.6%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.2%.
Boston Scientific’s shares have rallied 57.6% compared with the industry’s 20.3% rise in the past year.
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Masimo's Stock Up Following the New Tie-Up With Google to Boost Wear OS
Masimo Corporation (MASI - Free Report) , on Friday, announced a partnership with Google. The tie-up aims to develop a new reference platform for original equipment manufacturers (OEMs) building Wear OS by Google smartwatches.
OEMs who adopt the new Masimo platform will continue to design and produce their new smartwatches’ physical exteriors. However, the devices’ interiors, including optimized hardware and software components, biosensors, and a companion Android smartphone app, will be provided by Masimo. This is expected to ensure superior performance and unmatched user experiences.
Health and wellness capabilities will feature the same biosensing innovations and analytics that power the Masimo W1 wearable and upcoming Masimo Freedom smartwatch. The Masimo reference platform will likely make these components, features and benefits available for smartwatch manufacturers building Wear OS smartwatches in an easy-to-implement, standardized package.
Following the announcement on Sept. 13, MASI’s shares have gained 1% till the last trading.
The latest partnership is expected to significantly strengthen Masimo’s patient monitoring business.
Rationale Behind MASI’s Tie-Up
Per Masimo, by incorporating its biosensing technologies and standardizing smartwatch devices using the Masimo reference platform, OEMs will be able to build more efficiently and bring high-performing Wear OS smartwatches to market. The company believes that the robust reference platform will likely support the fast-growing Wear OS ecosystem, including a suite of health and wellness tracking tools to provide accurate, reliable data, seamless integration with Android smartphones, and improved quality and experience.
Masimo’s management expects the new wearable platform to boost the smartwatch OEMs’ abilities to create innovative, competitive and truly compelling Wear OS smartwatches for consumers.
Per Wear OS, smartwatch makers are expected to be able to benefit from Masimo’s biosensing technology and quickly bring the Wear OS devices to market, at scale, with Masimo's reference platform.
Masimo’s Industry Prospects
Per a report by MarketsandMarkets, the global patient monitoring devices market is anticipated to reach from $48.5 billion in 2024 to $71.1 billion by 2029 at a CAGR of 8%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest tie-up is likely to provide a significant boost to Masimo’s business.
MASI’s Recent Partnerships
This month, Masimo announced its partnership with Qualcomm Technologies, Inc. to develop a next-generation smartwatch reference platform for OEMs building Wear OS by Google smartwatches.
The same month, Masimo announced that France-based Saint-Denis Hospital Center would be adopting the use of its SafetyNet 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.
Last month, Masimo launched a partnership with March of Dimes to support new parents with babies in the Neonatal Intensive Care Unit (NICU). Through this partnership, Masimo will support March of Dimes’ NICU Family Support program, which helps over 50,000 families nationwide as they navigate the NICU experience and the transition from hospital to home.
Masimo’s Share Price Performance
Shares of the company have gained 14.2% in the past year compared with the industry’s 18.2% rise and the S&P 500's 25.9% growth.
Image Source: Zacks Investment Research
MASI’s Zacks Rank & Other Key Picks
Currently, Masimo sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Baxter International Inc. (BAX - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
DaVita, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 17.5%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 24.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 65.6% compared with the industry’s 30.1% rise in the past year.
Baxter, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 10%. BAX’s earnings surpassed estimates in each of the trailing four quarters, with the average being 3.7%.
Baxter has gained 3.9% compared with the industry’s 20.3% rise in the past year.
Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.6%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.2%.
Boston Scientific’s shares have rallied 57.6% compared with the industry’s 20.3% rise in the past year.