Yahoo Finance Masimo's (MASI) New Offering to Serve Personalized Audio Market
Masimo Corporation MASI, along with Denon, recently announced the introduction of White PerL. It is the latest offering of its Denon PerL and Denon PerL Pro True Wireless earbud line-up from the Denon PerL product lines.
The latest announcement is expected to significantly solidify Masimo’s foothold in the global personalized hearables market, thereby boosting its non-healthcare consumer audio business.
Significance of the Launch
Per Masimo, the two Denon PerL models are engineered with the company’s proprietary Adaptive Acoustic Technology (AAT) that prioritizes hearing personalization. Masimo AAT is expected to work by detecting an individual’s inner ear response from curated sound frequencies sent into the ear canal and then creating a custom hearing profile based on an individual’s hearing sensitivities. This will likely aid in enhancing sound depth, detail and clarity for a better listening experience.
Management believes that integrating Masimo’s AAT into Denon’s PerL earbuds will aid individuals to enjoy sound customized to their unique hearing profile. This is likely to significantly strengthen its position in the immersive audio space.
Industry Prospects
Per a report by Zion Market Research, the global hearable market was worth around $28 billion in 2022 and is anticipated to reach around $96.53 billion by 2030 at a CAGR of approximately 16.7%. Factors like the growing advancements in hearables-related technology and increased demand for wireless earphones and infotainment gadgets are expected to drive the market.
Given the market potential, the latest launch is likely to provide a significant boost to Masimo’s business globally.
Recent Development
This month, Masimo reported its first-quarter 2024 results, wherein management confirmed that its business is reaching a steady state after a period of robust growth during the COVID-19 period and the volatility that followed.
Price Performance
Shares of Masimo have lost 22.9% in the past year against the industry’s 8.5% rise and the S&P 500's 26.6% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Masimo carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Veeva Systems Inc. VEEV and Ecolab Inc. ECL.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 39.8% compared with the industry’s 24.1% rise in the past year.
Veeva Systems, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 24.1%. VEEV’s earnings surpassed estimates in each of the trailing four quarters, with the average being 8.5%.
Veeva Systems has gained 27% compared with the industry’s 45.2% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.5%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.3%.
Ecolab’s shares have rallied 35.8% against the industry’s 9.9% decline in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ecolab Inc. (ECL) : Free Stock Analysis Report
DaVita Inc. (DVA) : Free Stock Analysis Report
Masimo Corporation (MASI) : Free Stock Analysis Report
Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
