Masimo Corporation: Initiation Of Coverage – Expansion into Hearables and Wearables Market!

Masimo Corporation had a mixed Q4 and fiscal year 2023 earnings call, reporting both positive results and some challenges. The company generated over $2 billion in consolidated revenues, with healthcare revenues reaching $1.28 billion. In addition, Masimo saw strong growth in its hearables business and reported a record number of contract wins. The company’s healthcare business was greatly aided by the reinstatement of hospital operations after the COVID-19 pandemic. This contributed towards a healthy contract backlog and numerous FDA clearances for innovative products. Masimo believes that its innovations, such as the noninvasive Oxygen Reserve Index (ORI), have the potential to improve patient care and reduce hospital costs.