Masimo's (MASI) PVi Favored by Study for GDFT in Elderly Patients
Masimo Corporation MASI recently announced the findings of a prospective, randomized study in which researchers assessed the use of non-invasive, continuous Masimo pleth variability index (PVi), as part of goal-directed fluid therapy (GDFT), to guide intraoperative fluid administration during gastrointestinal (GI) surgery on elderly patients by comparing it to conventional fluid therapy. The findings were published in Perioperative Medicine.
The latest positive study outcome is a major stepping stone for Masimo’s real-time patient monitoring business and is likely to solidify its position in the niche space on a global scale.
Significance of the Study
The researchers noted the value of optimizing fluid management during GI procedures, especially in elderly patients, because of the high rate of postoperative complications and frequent fluid deficits. Hence, they sought to determine whether GDFT using Masimo PVi might improve outcomes in this scenario.
Currently, PVi is indicated as a non-invasive, dynamic indicator of fluid responsiveness in select populations of mechanically-ventilated adult patients. Per the researchers, PVi has been shown to perform similarly to invasive methods of fluid assessment, such as pulse pressure variation and stroke volume variation, in various surgeries.
The researchers concluded that intraoperative GDFT based on simple and non-invasive PVi did not reduce the occurrence of composite postoperative complications among elderly patients undergoing GI surgery. However, it was associated with a lower cardiopulmonary complication rate, unlike usual fluid management.
Per management, PVi’s utility as a fluid responsiveness indicator has been demonstrated in more than 100 independent, published studies. Management believes that the latest study will likely add to the outcomes evidence that PVi can be used to aid clinicians in managing the fluid levels of their patients without invasive catheters.
Industry Prospects
Per a report by Allied Market Research, the global fluid management devices market was valued at $4,563.0 million in 2021 and is anticipated to reach $13,292.76 million by 2031 at a CAGR of 11.3%. Factors like the rise in the number of minimally invasive surgeries, an increase in the prevalence of chronic diseases and technological advancements are expected to drive the market.
Given the market potential, the positive study outcome is likely to provide a significant boost to Masimo’s business globally.
Recent Developments
This month, Masimo reported its second-quarter 2023 results, wherein it registered an expansion of its installed base. Management confirmed that the company gained new hospital customers during the quarter at a record level. The expansion of both margins in the quarter was also recorded.
The same month, Masimo announced the findings of a study in which researchers evaluated the ability of Masimo SedLine brain function monitoring to assess the sedation levels of patients undergoing drug-induced sleep endoscopy with dexmedetomidine (a sedative with numerous advantages). The findings were published in Frontiers in Neuroscience.
In June, Masimo announced that Valencia, Spain-based Hospital La Fe will be expanding its telehealth and telemonitoring program with the Masimo W1 advanced health-tracking watch.
Price Performance
Shares of Masimo have lost 26.4% in the past year compared with the industry’s 2.3% decline. The S&P 500 has witnessed 6.9% growth in the said time frame.
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Zacks Rank & Stocks to Consider
Currently, Masimo carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space are Patterson Companies, Inc. PDCO, HealthEquity, Inc. HQY and McKesson Corporation MCK.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.2%. PDCO’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 4.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Patterson Companies has gained 16.8% compared with the industry’s 12.7% rise over the past year.
HealthEquity, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 9.1%.
HealthEquity has gained 15.2% against the industry’s 14.2% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 8.1%.
McKesson has gained 16.9% compared with the industry’s 12.7% rise over the past year.
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