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Masimo Gets CE Mark for RRp on MightySat Rx Pulse Oximeter

Irvine, CA-based Masimo CorporationMASI recently announced the receipt of CE mark approval for respiration rate measurement (RRp) on MightySat Rx fingertip pulse oximeter. Notably, Masimo's flagship MightySat Rx is a non-invasive device that measures oxygen saturation, pulse rate, perfusion index and pleth variability index.

With the assimilation of RRp facility, MightySat Rx can now have an account of the respiration rate of the patients using the same fingertip sensor that measures the above attributes. However, RRp does not have 510(k) clearance and is not available in the U.S.

MightySat Rx is the smallest, most compact pulse oximeter that provides a bluetooth wireless interface to the company's flagship Masimo Professional Health mobile application.

Per management, the addition of RRp facility to this platform would fortify the company's position in the field of mobile monitoring devices for the professional caregiver market.

Stock Performance

Over the last three months, the price performance of Masimo has been encouraging. The stock added 29.7%, higher than the Zacks classified Medical - Instruments sub-industry's gain of 4.5%.

Also, the current level compares favorably with the S&P 500's return of 6.5% over the same time frame. Added to this, a long-term expected earnings growth rate of 15% instills confidence in investors.

This positive price trend signifies the company's Zacks Rank #2 (Buy) and raises hopes of outperformance in the near term.

Bottom Line

We believe that the latest development will strengthen the company's product portfolio, helping it to tap in on the abundant opportunities in Europe. Even the global market trends seem to be quite lucrative, as an analysis by the Global Industry Analysts reveals that the Pulse Oximeters market is projected to reach a worth of $2.3 billion by 2020.

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Masimo's other non-invasive products like SET pulse oximeter and rainbow SET technology have been key growth catalysts. New product launches and growing installed base of its existing devices are going to help Masimo gain greater market traction.

Other Stocks to Consider

Other favorably ranked stocks in the broader medical sector include Glaukos Corporation GKOS , Avinger, Inc. AVGR and Fluidigm Corporation FLDM . Notably, Glaukos sports a Zacks Rank #1 (Strong Buy) while Avinger and Fluidigm carry a Zacks Rank #2. You can see the complete list of today's Zacks #1 Rank stocks here .

Glaukos Corporation has a long-term expected earnings growth rate of approximately 25%. Notably, the stock represents an impressive one-year return of 180.8%.

Avinger projects sales growth of 30.7% for the current year. Additionally, the company posted a positive earnings surprise of 27% in the last quarter.

Fluidigm Corporation has a long-term expected earnings growth rate of 25%. The stock has added 12.1% over the last three months.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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