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Masimo Partners with Qualcomm to Develop Next-Generation Smartwatch Reference Platform for Original Equipment Manufacturers
Comprehensive Platform Combines Masimo (NASDAQ:)’s Industry-leading Biosensing Capabilities with Snapdragon Wearable Platforms to Expand the Wear OS by Google™ Ecosystem
IRVINE, Calif.–(BUSINESS WIRE)–Masimo (NASDAQ: MASI), a leading global medical innovator, and Qualcomm (NASDAQ:) Technologies, Inc., whose Snapdragon ® branded platforms power extraordinary consumer experiences, today announced that Masimo is partnering with Qualcomm Technologies to develop a next-generation smartwatch reference platform for original equipment manufacturers (OEMs) building Wear OS by Google (NASDAQ:) smartwatches. The powerhouse combination of Masimo’s clinically proven, breakthrough biosensing technologies “ based on its decades of expertise designing industry-leading hospital monitoring solutions “ and best-in-class Snapdragon wearable platforms will help scale the wearable ecosystem. Forging the future of wearable devices, the reference platform will allow OEMs to more efficiently build and bring high-performing, premium smartwatches to market. The platform will also benefit from a robust suite of Masimo health and wellness tracking tools that consumers can trust to provide accurate, reliable data; it will use exclusively high-performance and ultra-low power system-on-a-chips (SoCs) alongside industry-leading wireless and cellular communications from Qualcomm Technologies to enable a superior connectivity experience.
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Qualcomm Technologies and Masimo (Photo: Business Wire)
Joe Kiani, Founder and CEO of Masimo, said, We’re thrilled to be able to partner with Qualcomm Technologies, to whom we naturally turned to supply the chips in our own forthcoming Masimo Freedom™ wearable, to craft a truly remarkable reference platform. It’s a platform driven by the belief that when key smartwatch components are supplied by the leading experts in their field, the harmonious whole produces something even greater than the sum of those excellent parts. In short, Qualcomm Technologies and Masimo engineers are working together to optimize the ˜guts’ of the smartwatch. Masimo’s ability to craft precision monitoring technologies and advanced signal processing algorithms, combined with meticulously engineered, high-performing, low-power Snapdragon systems, is a compelling foundation. We expect this new wearable platform to supercharge smartwatch OEMs’ abilities to create competitive, desirable smartwatches for consumers everywhere. I look forward to partnering with a company as well known for its commitment to innovation as Masimo.
Dino Bekis, Vice President and General Manager, Wearables and Mixed Signal Solutions at Qualcomm Technologies, Inc., said, Beginning with Snapdragon W5+ Gen 1, this collaboration will significantly broaden the range of smartwatch choices for consumers and further enhance the already exceptional Wear OS experience. With these reference designs, OEMs will benefit from robust, production-ready designs, incorporating Masimo’s state-of-the-art biosensing technology and Qualcomm Technologies’ leading Snapdragon wearable platforms. It will ultimately enable them to seamlessly bring their smartwatches to market rapidly and at scale.
OEMs who adopt the new reference platform will continue to design and produce their new smartwatches’ physical exteriors and have creative control over the appearance of the user interface. The devices’ interiors, including Snapdragon wearable platforms and Masimo biosensors, will be designed, provided, and tested by Masimo to ensure premium performance and an unmatched user experience. Health and wellness capabilities will feature the same biosensing innovations and analytics that power Masimo W1 ® and forthcoming Masimo Freedom “ technology based on Masimo’s clinically proven, industry-leading Signal Extraction Technology ® (SET ®). The Masimo reference platform will make all of these components, features, and benefits available for Wear OS smartwatch manufacturers in an easy-to-implement, standardized package.
Snapdragon is a trademark or registered trademark of Qualcomm Incorporated. Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries.
Wear OS by Google is a trademark of Google LLC.
@Masimo | #Masimo
About Masimo
Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET ® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET ® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns,3 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-5 Masimo SET ® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,6 and is the primary pulse oximetry at all 10 top U.S. hospitals as ranked in the 2024 Newsweek World’s Best Hospitals listing.7 In 2005, Masimo introduced rainbow ® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb ®), oxygen content (SpOC™), carboxyhemoglobin (SpCO ®), methemoglobin (SpMet ®), Pleth Variability Index (PVi ®), RPVi™ (rainbow ® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root ® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine ® Brain Function Monitoring, O3 ® Regional Oximetry, and ISA™ Capnography with NomoLine ® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters ® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7 ®, Radius PPG ®, and Radius VSM™, portable devices like Rad-67 ®, fingertip pulse oximeters like MightySat ® Rx, and devices available for use both in the hospital and at home, such as Rad-97 ® and the Masimo W1 ® Medical Watch. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris ® Gateway, iSirona™, Patient SafetyNet, Replica ®, Halo ION ®, UniView ®, UniView :60™, and Masimo SafetyNet ®. Its growing portfolio of health and wellness solutions includes Radius T º ® and Masimo W1 Sport. Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at www.masimo.com/evidence/featured-studies/feature/.
References
- Published clinical studies on pulse oximetry and the benefits of Masimo SET ® can be found on our website. Comparative studies include independent and objective studies which are comprised of abstracts presented at scientific meetings and peer-reviewed journal articles.
- Castillo A et al. Prevention of Retinopathy of Prematurity in Preterm Infants through Changes in Clinical Practice and SpO2 Technology. Acta Paediatr. 2011 Feb;100(2):188-92.
- de-Wahl Granelli A et al. Impact of pulse oximetry screening on the detection of duct dependent congenital heart disease: a Swedish prospective screening study in 39,821 newborns. BMJ. 2009;Jan 8;338.
- McGrath S et al. Surveillance Monitoring Management for General Care Units: Strategy, Design, and Implementation. The Joint Commission Journal on Quality and Patient Safety. 2016 Jul;42(7):293-302.
- McGrath S et al. Inpatient Respiratory Arrest Associated With Sedative and Analgesic Medications: Impact of Continuous Monitoring on Patient Mortality and Severe Morbidity. J Patient Saf. 2020 14 Mar.
- Estimate: Masimo data on file.
- https://www.newsweek.com/rankings/worlds-best-hospitals-2024/united-states
Forward-Looking Statements
This press release includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, in connection with the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among others, statements regarding the future development, efficiency, potential performance and adoption of the new Masimo reference platform (the Platform) and Masimo’s collaboration with Qualcomm. These forward-looking statements are based on current expectations about future events affecting us and are subject to risks and uncertainties, all of which are difficult to predict and many of which are beyond our control and could cause our actual results to differ materially and adversely from those expressed in our forward-looking statements as a result of various risk factors, including, but not limited to: risks related to our belief that Masimo’s unique noninvasive measurement technologies, including the Platform, contribute to accurate, reliable data; risks related to our belief that Masimo noninvasive medical breakthroughs provide cost-effective solutions and unique advantages; risks related to the assumption that the Platform will be available for integration into future OEM smartwatches; risks related to our belief that the Platform and OEMs will benefit from the collaboration with Qualcomm; risks related to COVID-19; as well as other factors discussed in the “Risk Factors” section of our most recent reports filed with the Securities and Exchange Commission (“SEC”), which may be obtained for free at the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today’s date. We do not undertake any obligation to update, amend or clarify these statements or the “Risk Factors” contained in our most recent reports filed with the SEC, whether as a result of new information, future events or otherwise, except as may be required under the applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240914175461/en/
Masimo
Evan Lamb
949-396-3376
elamb@masimo.com
Source: Masimo
Sterling Construction Company, Inc. (NASDAQ:) has reached an impressive milestone, with its stock price soaring to an all-time high of $137.93. This peak represents a significant achievement for the company, reflecting a robust performance and investor confidence. Over the past year, Sterling Construction has witnessed a remarkable 84.48% increase in its stock value, underscoring the company’s strong market presence and the positive reception of its strategic initiatives. Investors and market analysts alike are closely monitoring STRL’s progress, as it continues to build on its momentum in the construction sector.
In other recent news, Sterling Infrastructure, Inc. announced two key changes in its leadership. The company revealed the upcoming retirement of board member Charles R. Patton, effective from September 1, 2024. Patton, who has been a part of Sterling’s Board since 2013, will step down after over a decade of service, during which he contributed to the Corporate Governance & Nominating Committee and the Compensation Committee.
In parallel, Sterling Infrastructure named Dan Govin as its new Chief Operating Officer. Govin, who brings over three decades of experience in the energy infrastructure industry, is set to lead the company’s strategic and operational initiatives. His past roles include Regional President at Quanta Services (NYSE:) and Senior Vice President of Operations.
In related developments, Sterling Real Estate Trust, a North Dakota-based real estate investment trust, recently held its annual shareholders’ meeting. During the meeting, eight trustees were elected, including Gregory P. Hammes, Timothy L. Haugen, and Michelle L. Korsmo, among others. Additionally, the appointment of RSM US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, was ratified by the shareholders. These are among the latest developments at Sterling Infrastructure, Inc. and Sterling Real Estate Trust.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
CRH (NYSE:) PLC, a global leader in building materials, has reached an all-time high, with its stock price soaring to $91.22. This significant milestone underscores the company’s robust performance and investor confidence in its growth trajectory. Over the past year, CRH has seen an impressive 66.73% increase in its stock value, reflecting strong market demand and the successful execution of its strategic initiatives. The company’s ability to achieve this record price level amidst a dynamic economic environment speaks volumes about its resilience and the positive outlook shared by its stakeholders.
In other recent news, CRH Plc has seen a series of positive developments. Stifel, a financial services firm, has increased its EBITDA projections for the company by 4% for the years 2024 and 2025, following a positive outlook on CRH’s earnings. This includes the expected contributions from the newly acquired Adbri, which is predicted to add an additional 1% and 2% to the EBITDA in 2024 and 2025, respectively.
In addition, Deutsche Bank has raised its price target for CRH, maintaining a Buy rating on the stock, following the company’s acquisition of a majority stake in Adbri. This move is anticipated to enhance CRH’s materials solutions offerings in Europe.
Furthermore, CRH has appointed Lauren Schulz as its new Chief Communications Officer, a move expected to enhance the company’s global communications strategy.
Additionally, CRH has filed a notification regarding transactions by persons discharging managerial responsibilities, providing transparency into the dealings of the company’s management.
Lastly, CRH has reported strong growth in adjusted EBITDA and margin for the second quarter of 2024, and has raised its full-year adjusted EBITDA guidance to a range of $6.82 billion to $7.02 billion. These recent developments demonstrate the company’s resilience and strategic approach in a competitive market.
InvestingPro Insights
The ascent of CRH PLC in the stock market is not just a reflection of past performance but also a beacon for future potential, as suggested by InvestingPro data and insights. With a market capitalization of $60.88 billion and a forward-looking P/E ratio of 17.69, CRH is positioned competitively within the Construction Materials industry. Its commitment to shareholder returns is evident through a consistent dividend growth, having raised its dividend for the last four years, and a dividend yield of 1.39% as of the last twelve months leading up to Q2 2024. These financial gestures indicate management’s confidence in the company’s profitability, which is further supported by a strong gross profit margin of 34.85%.
In addition to its financial health, CRH’s operational efficiency is highlighted by an EBITDA growth of 13.63% in the same period. Notably, analysts have revised their earnings upwards for the upcoming period, signaling potential for continued growth. For investors seeking more detailed analysis, there are additional InvestingPro Tips available, including insights into CRH’s share buyback strategy and its performance relative to industry peers. These tips, accessible through the InvestingPro platform, offer a comprehensive view of the company’s strengths and investment potential.
For those monitoring CRH’s trajectory, the stock is trading near its 52-week high, at 99.14% of its peak, with a previous close at $89.27. The company’s next earnings date is set for November 7, 2024, which will provide further clarity on its performance and outlook. With a fair value estimate of $101 by analysts and an InvestingPro fair value of $74.35, investors are presented with a nuanced picture of CRH’s valuation. As the market anticipates CRH’s next financial disclosures, the InvestingPro platform remains a valuable resource for real-time data and expert analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
In a remarkable display of market confidence, Nelnet Inc (NYSE:) stock has achieved an all-time high, reaching a price level of $115.64. This milestone underscores a period of significant growth for the company, which has seen its stock value surge by 27.28% over the past year. Investors have rallied behind Nelnet’s strong performance, propelling the stock to new heights and reflecting optimism in the company’s future prospects. The all-time high represents not just a peak for the year but an unprecedented value in the company’s trading history, marking a momentous occasion for both Nelnet and its shareholders.
In other recent news, Nelnet Inc. has been under the spotlight following strong Q2 earnings and subsequent adjustments by TD Cowen. The firm increased Nelnet’s price target to $98.00, up from $96.00, while maintaining a Hold rating on the stock. This follows Nelnet’s Q2 2024 earnings report, which highlighted an EPS of $1.44, surpassing TD Cowen’s estimate of $1.33. The improved earnings were largely due to reduced operating expenses and a lower provision for losses. However, these gains were slightly offset by a decrease in fee income and a lower net interest income.
In recent developments, Nelnet disclosed its quarterly financial results to the Federal Deposit Insurance Corporation (FDIC). The report provides a snapshot of the financial health of Nelnet Bank, its wholly-owned subsidiary, and includes critical data such as assets, liabilities, and income. This commitment to transparency and regulatory compliance allows investors to gauge Nelnet’s financial stability and growth prospects.
Furthermore, Nelnet’s bank subsidiary, Nelnet Bank, also disclosed its quarterly financials. The report, known as the Call Report, is a significant indicator of the subsidiary’s contribution to Nelnet’s overall financial status. This routine disclosure aligns with the requirements of the Securities Exchange Act of 1934, providing a clear view of Nelnet Bank’s financial standing as of the last quarter.
InvestingPro Insights
In light of Nelnet Inc’s (NNI) recent achievement of an all-time high stock price, several InvestingPro Tips and real-time data points provide further context to the company’s financial health and market performance. Notably, Nelnet has demonstrated a robust track record by raising its dividend for 9 consecutive years and maintaining dividend payments for 18 consecutive years, which signals a strong commitment to shareholder returns. Additionally, analysts remain optimistic about the company’s profitability, expecting net income to grow this year.
From a data standpoint, Nelnet’s current market capitalization stands at $4.15 billion with a price-to-earnings (P/E) ratio of 26.88, which adjusts to a lower ratio of 22.02 when considering the last twelve months as of Q2 2024, reflecting a more favorable valuation for investors. The company’s revenue growth has been modest at 0.7% over the last twelve months, yet it experienced a more significant quarterly surge of 12.82% as of Q2 2024. Importantly, Nelnet’s stock is trading near its 52-week high, at 99.06% of this peak, and has seen a large price uptick of 31% over the last six months. These figures underscore the company’s strong market presence and potential for continued growth.
For those interested in deeper analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/NNI, which can provide investors with more nuanced insights into Nelnet’s performance and future outlook.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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