Masimo Corporation - MASI STOCK NEWS

The United States District Court for the Central District of California has ruled in favor of Masimo (NASDAQ: MASI), determining that former engineer Marcelo Lamego misappropriated trade secrets related to Masimo’s pulse oximetry technology. The court ordered Lamego to abandon patent applications and return confidential information. Furthermore, the sale of Lamego's True Wearables pulse oximeter is permanently enjoined due to the misuse of Masimo's trade secrets. Masimo has another pending lawsuit against Apple scheduled for trial in March 2023, alleging further misappropriation of trade secrets.

Masimo (NASDAQ: MASI) will participate in the Stifel 2022 Healthcare Conference on November 15, 2022, at 1:50 p.m. Eastern Time. A live webcast will be available on their website, with a replay following the presentation. Masimo specializes in innovative medical monitoring technologies, including noninvasive pulse oximetry and continuous monitoring tools, aiming to improve patient outcomes while reducing healthcare costs. Their products are utilized in over 100 million patients globally, establishing their presence in leading hospitals worldwide.

Masimo (NASDAQ: MASI) reported a strong performance for Q3 2022, with consolidated revenue reaching $549.3 million, up 78.7% from $307.4 million in Q3 2021. Healthcare revenue was $327.2 million, reflecting 6.4% growth, while non-healthcare revenue stood at $222.1 million. GAAP net income was $37.9 million ($0.70 per diluted share), with non-GAAP net income at $53.9 million ($1.00 per diluted share). For Q4 2022, Masimo updated its guidance to $581 million to $611 million in revenue.

Masimo (NASDAQ: MASI) will announce its third quarter 2022 financial results on November 8, 2022, after market close. A conference call hosted by CEO Joe Kiani and CFO Micah Young will occur at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results. This event is crucial for investors as Masimo's innovative medical technologies aim to improve patient outcomes and reduce care costs. Interested participants can register for the call to receive necessary details. More information about Masimo and its products is available on its website.

Masimo (NASDAQ: MASI) has issued a statement responding to a lawsuit filed by Politan Capital Management in Delaware. The company claims the lawsuit follows Politan's failed attempts to gain a board seat for its founder, Quentin Koffey, who lacks relevant industry experience. Masimo's board emphasizes the adoption of bylaw amendments to enhance transparency for shareholders and reject Politan's demands as self-serving. The legal team includes prestigious law firms like Quinn Emanuel Urquhart & Sullivan LLP.

Politan Capital Management, holding 8.8% of Masimo (NASDAQ: MASI), has filed a lawsuit against the company following recent bylaws amendments. These amendments, implemented on September 9, 2022, effectively hinder stockholders' rights to nominate directors, requiring sensitive information that is often confidential. The lawsuit seeks to declare the amendments unenforceable and challenges the directors' fiduciary duties. Quentin Koffey of Politan stated that Masimo's defensive measures, including a poison pill and a staggered board, leave them no option but to pursue legal action to preserve stockholder rights.

Masimo has appointed Blair Tripodi as Chief Operating Officer of its Consumer division, effective immediately. Tripodi, previously the Chief Commercial Officer at Sound United, will oversee sales, product, marketing, and commercial operations for Masimo Consumer. Founder and CEO Joe Kiani expressed confidence that Tripodi's experience in marketing and sales will drive growth in consumer health products. This leadership change aims to enhance innovation in audio products and healthcare technologies, reinforcing Masimo's commitment to improving lives through advanced solutions.

Masimo (NASDAQ: MASI) has announced the full market release of its innovative Masimo W1™ health watch, which offers continuous monitoring of vital signs such as oxygen saturation, pulse rate, and hydration index. Designed for consumer use, the watch utilizes advanced technology known for its accuracy in challenging conditions. Additionally, it pairs with the Masimo Health™ app for insightful health data tracking. The launch includes the Personal SafetyNet™ subscription service for enhanced health monitoring over time.

Masimo (Nasdaq: MASI) reported strong Q2 2022 results with consolidated revenue of $565 million, an increase of 85.3% from $305.1 million in Q2 2021. Healthcare revenue grew by 17% to $357 million, while non-healthcare revenue reached $208 million. GAAP net income was $18.1 million ($0.33 per diluted share), with non-GAAP net income of $74.8 million ($1.35 per diluted share). The company repurchased 3 million shares for $401 million and provided optimistic guidance for Q3 and FY 2022.