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Masimo MASI recently announced that a U.S. court has found Politan Capital and its managing partner, Quentin Koffey, guilty of violating a sealing order by releasing information from ongoing court proceedings in a press release dated Sept. 12.
This incident is likely to become a critical factor in the lead-up to Masimo’s 2024 Annual Meeting on Sept. 19, where Politan aims to replace several board members, potentially leading to the ousting of the company’s long-standing CEO and founder, Joe Kiani. The ruling has raised significant issues concerning corporate governance and the ethical conduct of activist investors.
Politan’s press release, which disclosed court proceedings sealed by a previous ruling, was deemed a violation by the U.S. Court for the Central District of California. The court stated that Politan’s disclosure gave it an unfair advantage in its proxy battle with Masimo, as the latter was unable to respond meaningfully due to the constraints of the sealing order.
Although the court ruled in favor of Masimo regarding the breach, it did not issue an injunction because the company failed to demonstrate significant economic damage from Politan’s actions. Furthermore, Politan had made corrective disclosures in response to the litigation.
MASI stock has gained 2% so far following the court ruling on Sept. 14. Year to date, Masimo’s shares have lost 1.9% against the industry’s growth of 9.8%. The S&P 500 Index has gained 18.1% in the said time frame.
Will MASI Gain From the Ruling?
The controversy stems from Politan’s broader agenda, which involves challenging the current leadership at Masimo. The investment firm has been vocal in its criticism of Masimo’s governance, particularly its alleged “egregious CEO benefits” and what Politan describes as “broken governance.”
In June 2024, Politan proposed two new board members, Darlene Solomon, former CTO of Agilent, and William Jellison, former CFO of Stryker, in an attempt to reshape Masimo’s leadership. According to Politan, these changes are necessary to safeguard the company’s future and maximize shareholder value.
However, the court’s contempt ruling has cast doubt on Politan’s ethical standing. Masimo’s management seized the opportunity to question the credibility and integrity of Politan, urging investors to vote against the firm’s nominees. The current board emphasized that Politan and its leadership, including Quentin Koffey, lack the necessary experience and qualifications to guide Masimo, further citing the court’s contempt ruling as evidence of Politan’s questionable conduct.
Importance of MASI’s Board Battle
The upcoming vote on Sept. 19 will determine the future of Masimo’s leadership. It could also result in Joe Kiani being ousted as CEO, a position he has held since the company’s inception. The court ruling adds a layer of complexity to the voting process, as shareholders must now weigh the legal and ethical implications of supporting Politan's candidates. If Politan succeeds, it could lead to a significant shift in Masimo’s strategic direction. A victory for MASI’s current board would maintain the status quo, albeit with renewed questions about governance and accountability. This ruling, therefore, plays a critical role in shaping the company’s future leadership and governance structure.
Masimo Corporation Price
Masimo Corporation price | Masimo Corporation Quote
MASI’s Zacks Rank & Other Key Picks
Currently, Masimosports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. DVA, Baxter International Inc. BAX and Boston Scientific Corporation BSX.
DaVita, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 17.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 24.2%. Its shares have risen 56.1% compared with the industry’s 26.3% growth in the past year.
Baxter, carrying a Zacks Rank #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, the average surprise being 3.7%.
Baxter has gained 2.9% compared with the industry’s 19.5% growth 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, the average surprise being 7.2%.
Boston Scientific’s shares have rallied 57.7% compared with the industry’s 19.5% growth in the past year.
Zacks Investment Research
Stryker Corporation SYK announced that it has closed the previously-announced agreement to acquire care.ai, a privately held company specializing in artificial intelligence (AI)-assisted virtual care workflows, smart room technology and ambient intelligence solutions. This acquisition is likely to strengthen Stryker's healthcare IT and wireless medical device offerings, underscoring its commitment to delivering innovative solutions that can tackle key challenges in the healthcare industry.
The deal should help SYK in enhancing its position further in the healthcare technology sector. Although SYK stock declined 2.2% following the announcement, the company’s shares have demonstrated a strong uptrend year to date, which is likely to continue for the rest of 2024.
Significance of SYK’s Agreement
Stryker's acquisition of care.ai marks a pivotal step in addressing major challenges in the healthcare industry, such as nursing shortages, staff retention and workplace safety. care.ai's AI-powered platform enhances healthcare delivery by enabling responsive, personalized workflows, allowing caregivers to focus more on patient care.
This move should accelerate Stryker's digital vision, offering customers real-time, intelligent decision-making tools that benefit both caregivers and patients. By integrating care.ai’s AI-driven technology with its Vocera platform, Stryker can create a comprehensive ecosystem to support dynamic clinical workflows and the development of smart healthcare facilities.
The acquisition highlights Stryker’s commitment to addressing its customers' evolving needs while advancing the future of healthcare. It aligns with Stryker's strategy of making tuck-in acquisitions to expand its capabilities.
Stryker Corporation Price
Stryker Corporation price | Stryker Corporation Quote
Earlier, in June, the company agreed to purchase Artelon, a leader in soft tissue repair technology. In December, it announced plans to acquire Serf Sas, a firm specializing in joint replacement technology. Through these strategic moves, Stryker is reinforcing its position as a leader in healthcare innovation.
Industry Prospects
Per a Precedence Research report, the global AI healthcare market size is expected to be worth $26.69 billion in 2024. It is anticipated to reach $613.81 billion by 2034 at a CAGR of 36.8%.
The robust growth will be primarily driven by the increasing adoption of digital technologies to reduce healthcare costs and enhance patient care quality. The rising prevalence of chronic diseases and an aging population are expanding the patient pool, leading to a greater need for efficient data management.
The demand for personalized medicine and the need to maintain digital health records are further propelling the market. The integration of AI and machine learning into healthcare systems should aid in early disease detection and improved care, supported by data analytics, deep learning, natural language processing and predictive analytics.
Price Performance
Shares of Stryker have risen 21.6% year to date compared with 15.5% growth of the industry. The S&P 500 has witnessed a 18.1% rise in the same time frame.
SYK’s Zacks Rank & Key Picks
Currently, Strykercarries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are DaVita Inc. DVA, Baxter International Inc. BAX and Boston Scientific Corporation BSX.
DaVita, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 17.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 24.2%. Its shares have risen 56.1% compared with the industry’s 26.3% growth in the past year.
Baxter, carrying a Zacks Rank #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, the average surprise being 3.7%.
Baxter has gained 2.9% compared with the industry’s 19.5% growth 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, the average surprise being 7.2%.
Boston Scientific’s shares have rallied 57.7% compared with the industry’s 19.5% growth in the past year.
Zacks Investment Research
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores?
Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value Score
Value investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth Score
While good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum Score
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM Score
What if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank
A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +25.41% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only as a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Boston Scientific (BSX)
Headquartered in Natick, MA and founded in 1979, Boston Scientific Corporation manufactures medical devices and products used in various interventional medical specialties worldwide. The company has adopted the organic as well as inorganic routes for success.
BSX is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
Additionally, the company could be a top pick for growth investors. BSX has a Growth Style Score of B, forecasting year-over-year earnings growth of 17.1% for the current fiscal year.
12 analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.08 to $2.40 per share. BSX also boasts an average earnings surprise of 7.2%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, BSX should be on investors' short list.
Zacks Investment Research
Boston Scientific Corporation BSX recently received the Food and Drug Administration’s (FDA) approval to expand the indication for current-generation INGEVITY+ Pacing Leads. Expanded indication for INGEVITY+ Pacing Leads means thin wires will be placed inside the heart that will be connected to an implantable device. It can be used to include conduction system pacing (CSP) and sensing of the left bundle branch area (LBBA) when connected to a single or dual-chamber pacemaker.
The latest FDA approval enhances Boston Scientific’s commitment to developing safe and effective pacing technologies by providing physicians with LBBA-specific tools and educational resources.
BSX’s Likely Stock Trend Following the News
Following the announcement, shares of Boston Scientific lost 1.2% to $82.52 yesterday. However, the company continues to gain a high level of synergies from its continuous development within the cardiology space. Accordingly, we expect market sentiment toward BSX stock to eventually gain investors' optimism over this development.
Importance of BSX’s Expanded indication for INGEVITY+ Pacing Leads
Pacing of the LBBA is an alternative to traditional right ventricular pacing for the treatment of symptomatic bradycardia — a condition in which the heart beats too slowly. This pacing approach uses the heart's natural electrical system to place a lead in the LBBA of the heart's conduction system. This technique is expected to promote greater ventricular synchrony and reduce the long-term risk of heart failure associated with traditional right ventricular pacing.
Hence, the expanded indication for the INGEVITY+ Pacing Lead should enhance the implant experience for physicians and provide flexibility to determine the most appropriate pacing strategy based on individual patient characteristics.
Details of the FDA Approval
Clinical evidence submitted to the FDA to support the expanded indication includes data from approximately 400 patients from the INSIGHT-LBBA study. The study shows an analysis of the INGEVITY+ pacing leads that were previously implanted in the LBBA for anti-bradycardia pacing and were supplemented with bench testing and LATITUDE Programming System data.
Data demonstrated this lead to be safe and effective for LBBA pacing, allowing Boston Scientific to provide a new therapeutic option on a proven lead.
More on the News
The expanded indication followed the launch of the Boston Scientific CSP portfolio, including the OneLINK Splitter Cable, the INGEVITY+ Helix Locking Tool and site-selective pacing delivery catheters.
Industry Prospects Favor Boston Scientific
Per a Verified Market Research report, the pacing lead market was valued at $5.68 billion in 2024 and is projected to reach $7.8 billion by 2031, at a compound annual growth rate of 4.43% during the period. Key factors driving market growth include the increasing prevalence of cardiovascular diseases, technological advancements and the growing preference for minimally invasive operations.
Recent Development by BSX
On Tuesday, the company closed its acquisition of Silk Road Medical, Inc. With this, Boston Scientific should be able to strengthen its vascular technology solutions by bringing the innovative TCAR platform to a greater number of physicians and their patients (through the company’s significant commercial reach).
BSX’s Price Performance
In the past year, shares of BSX have risen 55.7% compared with the industry’s 20.3% growth.
BSX’s Zacks Rank and Other Key Picks
BSX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are TransMedics Group TMDX, AxoGen AXGN and OrthoPediatrics KIDS. While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%
Estimates for 2024 OrthoPediatrics’ loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 0.8% against the industry’s 18.1% growth. In the last reported quarter, KIDS delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
Zacks Investment Research
Charles River Laboratories International, Inc. CRL and CEBINA GmbH (Central European Biotech Incubator and Accelerator) have formed a strategic alliance under the DanubeNeuro acceleration program — an initiative focused on advancing groundbreaking academic research projects in the field of neurodegeneration, dementia and aging. The company’s extensive experience in neurotherapeutics will assist CEBINA in selecting and developing new product candidates.
Predicting CRL Stock’s Movement Following the Announcement
After the news release, shares of CRL rose 1.2% to $206.21 at the close of yesterday’s trading session. The latest development is expected to significantly boost the company’s Discovery Services business, a part of the Discovery and Safety Assessment (“DSA”) segment.
Recent advancements in genetics, pathology and biomarkers are speeding up the process of neuroscience drug discovery. Charles River is contributing to shaping neuroscience research, from providing deep translational expertise for preclinical models to novel drug discovery therapeutics, manufacturing and commercialization. We expect the market sentiment toward the stock to get a boost, driven by this development.
Impact of Charles River’s Participation in DanubeNeuro
With the trend of increasing lifespan, age-related conditions such as neurodegenerative disorders are becoming major and growing unmet medical needs worldwide, carrying significant and growing public health and societal implications. Given the urgent need for novel strategies and approaches to tackle complex diseases like Alzheimer’s and Parkinson’s, it is crucial to speed up the process of turning innovative academic ideas into viable drug development programs.
Launched by CEBINA earlier this year, DanubeNeuro identifies and develops pioneering research projects with the potential to create advanced drugs, diagnostic methods, disease biomarkers and imaging techniques for neurodegenerative diseases. CEBINA’s comprehensive selection process covers the key aspects of drug discovery and early-phase product development.
Projects selected for acceleration within DanubeNeuro will benefit from CEBINA’s experience from other acceleration programs, as well as Charles River’s knowledge and extensive expertise in drug discovery and development in the central nervous system field. DanubeNeuro is supported by a dedicated fund, Danube BioVentures. Together, Charles River and CEBINA will enhance this program’s potential to accelerate innovation in neurodegeneration.
Industry Prospects Benefiting CRL
According to Allied Market Research, the global neurodegenerative drugs market is forecasted to witness a compound annual rate of 7.5% through 2031 from a valuation of $36.28 billion in 2021. The rising prevalence of neurodegenerative diseases such as Parkinson’s, multiple sclerosis and Alzheimer's disease is fueling the demand for neurogenerative drugs. The growth of the market is likely to be driven by the high potential in untapped, emerging markets due to the availability of improved healthcare infrastructure and rising chronic disease rates.
Charles River’s Recent Developments
Earlier this month, Charles River and Insightec formed a five-year strategic partnership to integrate focused ultrasound for drug discovery and preclinical development of therapeutics in neuroscience. The collaboration will provide Charles River’s clients with access to a comprehensive global service and technology platform. Insightec’s novel low-frequency ultrasound platform non-invasively disrupts the blood-brain barrier, enabling drugs to be delivered to targeted brain areas.
CRL Stock Price Performance
Over the past year, shares of the company have fallen 1.1% against the industry’s growth of 15.1%.
CRL’s Zacks Rank and Top MedTech Stocks
Charles River carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Boston Scientific BSX, AxoGen AXGN and Phibro Animal Health PAHC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boston Scientific’s shares have risen 55.6% in the past year. Estimates for the company’s earnings per share have remained constant at $2.40 in 2024 and $2.71 in 2025 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.2%. In the last reported quarter, it posted an earnings surprise of 6.9%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 177.7% in the past year compared with the industry’s growth of 18%. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for Phibro Animal Health’s 2024 earnings per share have risen 0.7% in the past 30 days. Shares of the company have rallied 79% in the past year compared with the industry’s 20.6% growth. PAHC’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 4.1%. In the last reported quarter, it delivered an earnings surprise of 20.6%.
Zacks Investment Research
Boston Scientific (BSX) closed the most recent trading day at $82.52, moving -1.19% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.03%. Meanwhile, the Dow lost 0.04%, and the Nasdaq, a tech-heavy index, added 0.2%.
The the stock of medical device manufacturer has risen by 6.14% in the past month, leading the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54%.
Analysts and investors alike will be keeping a close eye on the performance of Boston Scientific in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.58, reflecting a 16% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $4.03 billion, indicating a 14.34% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.40 per share and revenue of $16.26 billion, which would represent changes of +17.07% and +14.18%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Boston Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Boston Scientific is currently a Zacks Rank #2 (Buy).
With respect to valuation, Boston Scientific is currently being traded at a Forward P/E ratio of 34.81. This denotes a premium relative to the industry's average Forward P/E of 25.29.
One should further note that BSX currently holds a PEG ratio of 2.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.08.
The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 65, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Investment Research
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