Company Performance - Masimo reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.24 per share, and up from $0.77 per share a year ago, representing an earnings surprise of 9.68% [1] - The company posted revenues of $372 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.29%, but down from $492.8 million year-over-year [2] - Over the last four quarters, Masimo has consistently surpassed consensus EPS and revenue estimates [2] Future Outlook - The sustainability of Masimo's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.27 on revenues of $372.12 million, and for the current fiscal year, it is $5.28 on revenues of $1.52 billion [7] - The estimate revisions trend for Masimo is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical - Instruments industry, to which Masimo belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Financial Data and Key Metrics Changes - The company reported Healthcare revenue of $371 million, reflecting a 10% growth on a constant currency basis, with operating margin expansion of 750 basis points [9][18] - Non-GAAP earnings per share (EPS) was $1.36, representing a 56% growth year-over-year, while GAAP net income from continuing operations was $47 million or $0.86 per share [19][20] - The net loss from discontinued operations was $218 million or $4.4 per share, including an impairment charge of $295 million related to the Audio business [20] Business Line Data and Key Metrics Changes - Consumable and service revenue grew by 8%, while capital equipment and other revenue surged by 32% due to the timing of shipments related to a large tender contract renewal [18] - The company shipped over 72,000 technology boards and monitors during the quarter, exceeding expected ranges [18] Market Data and Key Metrics Changes - The company anticipates revenue growth for fiscal 2025 to be in the range of $1.5 billion to $1.53 billion, reflecting an 8% to 11% constant currency growth compared to the previous year [20][21] - The updated guidance for operating margins is set at 28% to 28.5% excluding new tariffs, with EPS guidance of $5.3 to $5.6 [21] Company Strategy and Development Direction - The company plans to invest in its core Healthcare business to accelerate revenue growth beyond the long-standing target of 7% to 10% [13] - Strategic initiatives include upgrading existing sensors, leveraging leadership in pulse oximetry, and restructuring sales forces to be regionally focused [14] - The divestiture of the Consumer Audio business is aimed at refocusing on the Professional Healthcare business and enhancing shareholder value [10][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong performance and the ability to navigate macro uncertainties, highlighting the high recurring revenue and durable growth profile [16] - The CEO emphasized the commitment to innovation and the potential for improvement in commercial excellence [8][9] Other Important Information - The company is actively assessing the impact of potential tariffs and has developed mitigation plans to address these challenges [15][22] - A new Chief Human Resources Officer has joined the team to enhance company culture and talent development [11] Q&A Session Summary Question: Impact of large tender on revenues and margins - Management indicated that excluding the large tender, the rest of the business is performing well, with double-digit growth in consumables and services [29][30] Question: Future sales expectations - Management expects normal seasonality, with Q2 typically being flat to slightly down sequentially [32] Question: Long-term operating margin goals amid tariffs - Management remains confident in achieving long-term margin goals despite tariff impacts, with ongoing plans to mitigate these effects [42][43] Question: Use of proceeds from the sale of Sound United - The company plans to prioritize share repurchases with the proceeds from the sale, reflecting a focus on returning value to shareholders [47] Question: Hospital CapEx spending and demand - Management noted strong underlying demand and no signs of softness in the market, emphasizing the low dependency on capital equipment revenue [52] Question: Mitigation options for tariffs - Management is evaluating near-term and long-term mitigation strategies, including altering product sourcing and pricing opportunities [56][58] Question: Hemodynamic monitoring market potential - The company aims to enhance its presence in the hemodynamic monitoring market with new product launches planned for 2026 [66][68]

First Quarter 2025 Earnings May 6, 2025 3 1 Safe Harbor Statement Forward-Looking Statements: This presentation contains forward-looking statements within the meaning of federal securities laws, including, among others, statements about our expectations, plans, strategies or prospects. We generally use the words "may," "will," "expect," "believe," "anticipate," "plan," "estimate," "project," "assume," "guide," "target," "forecast," "see," "seek," "can," "should," "could," "would," "intend," "predict," "pote ...

Financial Data and Key Metrics Changes - The company reported Healthcare revenue of $371 million, reflecting a 10% growth on a constant currency basis, with operating margin expanding by 750 basis points [9][19] - Non-GAAP earnings per share (EPS) was $1.36, representing a 56% increase compared to the previous year [20] - The gross margin improved to 63.1%, an increase of 80 basis points year over year, while operating margin reached 28.8%, up 750 basis points year over year [20] Business Line Data and Key Metrics Changes - Consumable and service revenue grew by 8%, while capital equipment and other revenue surged by 32% [19] - The company shipped over 72,000 technology boards and monitors during the quarter, exceeding expectations due to strong core business performance [19] Market Data and Key Metrics Changes - The company anticipates revenue for fiscal 2025 to remain unchanged at a range of $1.5 billion to $1.53 billion, indicating an 8% to 11% constant currency growth compared to the prior year [21] - The impact of tariffs is projected to affect operating margins by 210 to 250 basis points and EPS by $0.45 to $0.50 [22][23] Company Strategy and Development Direction - The company aims to invest in its core Healthcare business to accelerate revenue growth beyond the long-standing target of 7% to 10% [13] - Plans include upgrading existing sensors and creating next-generation monitors with AI-based algorithms, leveraging leadership in pulse oximetry, and restructuring sales forces to be regionally focused [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong performance and ability to navigate macro uncertainties, highlighting the high recurring revenue and durable growth profile [16] - The CEO emphasized the commitment to innovation and the potential for improvement in commercial excellence [8][9] Other Important Information - The company announced the divestiture of its Consumer Audio business, Sound United, to refocus on its Professional Healthcare business [10][11] - A new Chief Human Resources Officer, Lisa Hellman, has joined the company to enhance culture and talent development [11] Q&A Session Summary Question: Impact of large tender on revenues and margins - Management clarified that excluding the large tender, the rest of the business is performing well, with double-digit growth in consumables and services [31][32] Question: Future sales expectations - Management indicated that Q2 is typically flat to slightly down sequentially, but they expect to maintain strong demand [35] Question: Long-term impact of tariffs on operating margins - Management remains optimistic about underlying business performance and expects to mitigate tariff impacts through various plans [45] Question: Valuation from the sale of Sound United - Management confirmed that the sale price was in line with expectations and that proceeds will primarily be used for share repurchases [49] Question: Hospital CapEx spending and OEM partners - Management noted strong underlying demand and low dependency on capital equipment, indicating no signs of softness in the market [54] Question: Mitigation options for tariffs - Management is evaluating near-term and long-term mitigation strategies, including altering product sourcing and pricing opportunities [59][60] Question: Changes in salesforce model - Management explained the shift to a generalist salesforce model to leverage broader knowledge across product categories, aiming for increased efficiency [88][89]

Exhibit 99.1 Irvine, California, May 6, 2025 - Masimo Corporation (Nasdaq: MASI) today announced its financial results for the first quarter ended March 29, 2025. First Quarter 2025 Results From Continuing Operations : (1) First Quarter 2025 Results From Discontinued Operations : (2) Masimo Reports First Quarter 2025 Results ■ GAAP loss from discontinued operations, net of tax was ($218) million, which included an impairment of intangibles of $295 million for the non-healthcare consumer business. Katie Szym ...

Core Viewpoint - Boston Scientific (BSX) is experiencing growth driven by product launches, strategic acquisitions, and international expansion, with a Zacks Rank of 2 (Buy) indicating positive market sentiment [1]. Group 1: Growth Drivers - The company is successfully expanding its operations internationally, particularly in Europe, the Middle East, and Africa (EMEA), where sales grew 11.6% year over year on an operational basis in the fourth quarter [2]. - New product launches, such as the next-generation accurate Prime Valve and LUX-Dx II, along with strong uptake of FARAPULSE, are contributing to growth in the EMEA region [2]. - The Endoscopy business within MedSurg is seeing strong growth in endoluminal surgery and single-use imaging franchises, supported by positive reimbursement wins for the ESG weight loss procedure [3]. Group 2: Strategic Acquisitions - Recent acquisitions, including Cortex for advanced AF mapping and Silk Road for vascular medicine, are expected to enhance the product portfolio and boost long-term revenue [4]. - The acquisition of Axonics in the fourth quarter of 2024 is also part of the company's strategy to expand its offerings [4]. Group 3: Stock Performance - Over the past three months, BSX shares have increased by 14.1%, outperforming the industry, which saw a decline of 5.7% [5]. - The company's international market expansion and new product launches are anticipated to sustain this upward trend in stock performance [5]. Group 4: Challenges - The company faces challenges from difficult macroeconomic conditions, including geopolitical pressures and disruptions in global supply chains, which may impact operating expenses [6]. - In the fourth quarter of 2024, BSX experienced a 27.9% increase in the cost of products sold, leading to a contraction in gross margin by 138 basis points [6]. - Currency fluctuations pose a risk, with 40% of sales coming from international markets, and a projected 100-basis point headwind from foreign exchange on revenues for 2025 [7]. Group 5: Competitive Landscape - The medical devices market is highly competitive, with Boston Scientific facing competition from major players like Johnson & Johnson, Abbott, Medtronic, Stryker, Smith & Nephew, and Edwards Lifesciences [8].

Core Insights - Alcon's Clareon Vivity intraocular lens (IOL) has received CE Mark approval, set for commercial rollout in Europe by early Q2 2025, enhancing visual options for patients [1][2] - The lens addresses presbyopia, providing extended depth of focus (EDOF) for clearer vision at multiple distances, unlike traditional monofocal lenses [5][8] - Alcon's market capitalization stands at $44.67 billion, with a recent earnings surprise of 2.9% [4] Company Developments - Alcon's Surgical segment benefits from a diverse portfolio and innovation, particularly in cataract consumables, with positive market sentiment expected following recent agreements [4] - The acquisition of LENSAR, a leader in advanced laser solutions for cataract treatment, strengthens Alcon's portfolio in femtosecond laser-assisted cataract surgery [10] Stock Performance - Following the news, Alcon's shares increased nearly 2%, closing at $92.35, although the stock has seen a 6.5% decline over the past six months compared to the industry's 8.4% decline [3] - The S&P 500 experienced a 0.6% decline in the same timeframe [3]

Core Viewpoint - Insulet Corporation (PODD) has shown significant growth, with shares increasing by 62.9% over the past year, outperforming the industry growth of 9.9% and the S&P 500's increase of 9.1% [1] Company Overview - Insulet develops and markets the Omnipod System, a continuous insulin delivery system for insulin-dependent diabetes, which includes the Omnipod and the next-generation Omnipod DASH [2] Revenue Segments - The company reports revenues from three segments: U.S. Omnipod, International Omnipod, and Drug Delivery, with the latter involving partnerships with pharmaceutical companies to deliver drugs using the Omnipod System [3] Growth Drivers - The share price growth is driven by the strong performance of the Omnipod 5 system, which is the only FDA-cleared, fully disposable pod-based automated insulin delivery (AID) system, expanding the addressable market to over 5.5 million people in the U.S. [4] - Omnipod 5 has maintained strong momentum in new customer acquisitions in the U.S., showing sequential and year-over-year growth in Q4 2024, contributing to overall revenue increases across all business segments [5] Market Expansion - Insulet has successfully launched Omnipod 5 in multiple countries, including France, the Netherlands, Italy, Denmark, Finland, Norway, Sweden, and Australia, with plans for further expansion into Belgium, Switzerland, Canada, and five additional markets in 2025 [6][7] Innovation Focus - The company is committed to consumer-focused innovation, recently announcing the limited market release of Omnipod Discover, a digital platform aimed at enhancing patient engagement and outcomes, alongside a broad innovation agenda for 2025 [8] Financial Estimates - The Zacks Consensus Estimate for Insulet's 2025 EPS has increased by 9.4% to $4.29, with an earnings yield of 1.6%, significantly higher than the industry's 0.3% [12]

Core Insights - Hyperfine, Inc. (HYPR) has announced a strategic collaboration with NVIDIA to integrate advanced AI technologies into its Swoop Portable MRI system, aiming to enhance neuroimaging solutions and improve accessibility for brain scans [1][2] Company Developments - The partnership with NVIDIA emphasizes Hyperfine's commitment to revolutionizing neuroimaging by combining portable MRI technology with advanced computational platforms, positioning the company to improve patient outcomes and expand its leadership in point-of-care imaging [2] - Following the announcement, HYPR shares surged 39.3%, closing at $1.28, with a 33.3% gain over the past six months, outperforming the industry which declined by 9.2% [3] - The collaboration is expected to enhance the speed, intelligence, and accessibility of Hyperfine's MRI systems, potentially attracting more healthcare providers and improving revenue growth and market share [4] Financial Performance - Hyperfine currently has a market capitalization of $93.4 million and reported a 12.5% earnings surprise in the last quarter [5] - In 2024, Hyperfine reported revenues of $12.89 million, a 17% increase, and sold 48 Swoop MRI systems, improving its gross margin to 46%, while narrowing its net loss to $40.72 million [10] Market Context - Over three billion people globally suffer from brain diseases, with many lacking timely MRI access due to high costs and infrastructure needs; Hyperfine's AI-powered portable MRI aims to address this issue by providing affordable, point-of-care imaging [6] - The Swoop Portable MRI system is the first FDA-cleared portable MRI designed for bedside use, allowing rapid neuroimaging results without the need to transport critically ill patients [8] - The collaboration with NVIDIA will focus on advancing AI-powered image reconstruction and real-time clinical decision support, enhancing image quality and reducing scan times [9]

Core Insights - Surmodics, Inc. (SRDX) reported a strong performance in the last quarter, with a loss per share that was 51.9% narrower than market estimates and sales exceeding estimates by 8.3%, driven by solid prospects in the thrombectomy business [1][3] - The company is likely to be acquired by GTCR for an estimated total equity valuation of $627 million, with the deal expected to close by the end of March, potentially offering double-digit returns for investors [2][5] - Surmodics has a market capitalization of $404.58 million and projects a remarkable 162.5% growth for fiscal 2025, maintaining a strong performance trajectory [3] Acquisition Details - Surmodics entered into a definitive agreement in May 2024 to be acquired by GTCR, with shareholders set to receive $43.00 per share in cash [5] - The acquisition faces challenges as the FTC has blocked the deal due to anti-competitive concerns, prompting Surmodics to consider legal action against the FTC [5][11] Financial Performance - Surmodics demonstrated solid improvement in both top and bottom lines for Q1 of fiscal 2025, with notable increases in performance coatings royalty revenues and sales from the Pounce thrombectomy device platforms [8] - The gross margin expansion is a positive indicator for the stock, despite some segmental sales declines attributed to unfavorable order timing [10] Thrombectomy Business Prospects - The company aims to leverage its proprietary Pounce thrombectomy platform technology, with early results from a study presented at the TCT Symposium and FDA clearance for the Pounce XL Thrombectomy System [7] - Limited market evaluations of the product are expected to generate additional revenues during fiscal 2025 [7] Estimate Trends - Surmodics is experiencing a positive estimate revision trend for fiscal 2025, with the Zacks Consensus Estimate for earnings per share improving by 1 cent to 19 cents [13] - The consensus estimate for Q2 fiscal 2025 revenues is projected at $33 million, indicating a 3.3% increase from the previous year [13]