Masimo Corporation - MASI STOCK NEWS

Masimo (NASDAQ: MASI) has announced its participation in the upcoming Jefferies London Healthcare Conference. The presentation is scheduled for Thursday, November 21, 2024, at 8:30 a.m. GMT. Interested parties can access a live webcast of the presentation through Masimo's website. For those unable to attend the live session, a replay will be made available on the company's website following the presentation.

Masimo (NASDAQ: MASI) has announced its participation in the upcoming Stifel 2024 Healthcare Conference. The company's management will present on Monday, November 18, 2024 at 11:30 a.m. Eastern Time. Interested parties can access a live webcast of the presentation through Masimo's website. A replay option will be available after the live presentation concludes.

Masimo (MASI) reported Q3 2024 financial results with consolidated revenue of $504.6 million, including healthcare revenue of $343.3 million (up 11.5%) and non-healthcare revenue of $161.3 million. The company shipped 60,500 noninvasive technology boards and instruments. GAAP net income was $9.8 million ($0.18 per diluted share), while non-GAAP net income reached $52.9 million ($0.98 per diluted share). The company updated its FY2024 guidance, projecting consolidated revenue between $2,075-$2,105 million and non-GAAP earnings per diluted share of $3.95-$4.10.

Vanderbilt University Medical Center (VUMC) is implementing Masimo Radius VSM™ wireless vital signs monitoring system in its Emergency Department to address ER congestion. The pilot program enables continuous monitoring of patients in hallway beds, emergency service offload areas, and waiting rooms, where monitoring is typically periodic. The system, integrated with Patient SafetyNet™, allows clinicians to remotely monitor vital signs in real time from centralized stations, offering measurements including pulse oximetry, blood pressure, temperature, respiration rate, and ECG. The implementation aims to transform traditionally unmonitored spaces into areas of proactive patient care, potentially improving patient throughput and prioritization.

Masimo (NASDAQ: MASI) has announced it will release its third quarter 2024 financial results on Tuesday, November 5, 2024, after the market closes. The results will cover the period ended September 28, 2024. A conference call and webcast to discuss the results will begin at 1:30 p.m. PT (4:30 p.m. ET) on the same day.

The call will be hosted by Michelle Brennan, interim Chief Executive Officer, Micah Young, Executive Vice President and Chief Financial Officer, and Bilal Muhsin, Chief Operating Officer. Interested parties can register for the conference call to receive dial-in details and a registrant ID. A replay of the webcast and conference call will be available shortly after the conclusion and archived on Masimo's website.

Masimo (Nasdaq: MASI) has announced significant leadership changes and business updates. Michelle Brennan, a current board member, has been appointed as interim CEO following Joe Kiani's resignation. The company has also officially appointed Darlene Solomon and Bill Jellison to the Board. Masimo has engaged Korn Ferry to assist in CEO succession planning.

The Board remains committed to reviewing strategic alternatives for both consumer audio and healthcare businesses, with Centerview Partners and Morgan Stanley as financial advisors and Sullivan & Cromwell as legal advisor. Masimo has reaffirmed its non-GAAP financial guidance for the third quarter of 2024, previously provided on August 6, 2024.

Michelle Brennan, with over 30 years of experience at Johnson & Johnson, expressed excitement about the opportunity to help Masimo continue its growth and innovation focus. The company's management team emphasized strong business momentum and future growth prospects.

Politan Capital Management, a 9% shareholder of Masimo (NASDAQ: MASI), announced the results of Masimo's 2024 Annual Meeting of Stockholders. Both of Politan's independent nominees, Darlene Solomon and William Jellison, were elected to the Board. Politan expressed gratitude for the support from fellow Masimo shareholders during the process.

In a joint statement, Solomon, Jellison, Michelle Brennan, and Quentin Koffey expressed their enthusiasm for Masimo's future as a leading, innovation-focused growth company. They pledged to work with Healthcare and Consumer employees to enhance the company's success and assured customers of their commitment to preventing any disruption to service and support.

Politan Capital Management, an 8.9% shareholder of Masimo (NASDAQ: MASI), has issued an open letter to shareholders ahead of the company's 2024 Annual Meeting on September 19. The letter highlights the need for further change in Masimo's boardroom and refutes the company's defensive rhetoric. Politan urges shareholders to vote for its independent nominees, Darlene Solomon and William Jellison, on the WHITE card.

Key points from the letter include:

• Criticism of Masimo's board for lack of oversight and transparency
• Allegations of collusion between Masimo's CEO and RTW to manipulate voting
• Refutation of Masimo's claims about potential business disruption
• Defense against Masimo's accusations towards Politan
• Emphasis on the urgent need for change in Masimo's governance

Politan argues that without a majority of independent directors, Masimo's pattern of poor governance and shareholder value destruction will continue.

Masimo (NASDAQ: MASI) has shared key points ahead of their important September 19 Annual Meeting. The company urges shareholders to vote for its nominees, Joe Kiani and Christopher Chavez, instead of Quentin Koffey. Masimo reports strong Q2 earnings with 22% growth in healthcare revenue and has raised its 2024 EPS guidance. The company is also in advanced discussions for a potential joint venture to sell a majority stake in its consumer businesses. Masimo has partnered with Google to develop a reference platform for Wear OS smartwatches, enhancing its position in the premium wearable market. Additionally, the company is declassifying its Board and expanding it to 9-11 members to align with shareholder feedback. A federal court has held Quentin Koffey in contempt for misleading shareholders and proxy advisory firms, ISS and Glass Lewis. The court confirmed Koffey's dishonest actions, further supporting Masimo's plea for shareholder votes.