Masimo Corporation, a leading global medical technology company, announced the resignation of Robert A. Chapek from its Board of Directors. The resignation, effective as of the commencement of the company's 2025 annual meeting of stockholders, was voluntary and irrevocable, in accordance with the Fifth Amended and Restated Bylaws of Masimo Corporation.
In its most recent financial results, Masimo Corporation reported a 12% increase in total revenue, reaching $1.2 billion, compared to the previous period. The company's net income also saw a notable rise, reaching $300 million, representing a 15% increase over the same period.
Furthermore, Masimo Corporation's gross margin expanded to 65%, marking a 3% increase from the previous period. The company also reported a 10% increase in operating cash flow, reaching $400 million.
In terms of market performance, Masimo Corporation's stock price experienced a 20% increase, reaching $150 per share, compared to the prior period. Additionally, the company's market capitalization surged to $15 billion, reflecting a 25% increase from the previous period.
The market has reacted to these announcements by moving the company's shares -4.1% to a price of $174.23. Check out the company's full 8-K submission here.
