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IRVINE, CA - Masimo Corporation (NASDAQ:MASI), a medical technology company valued at $9.6 billion, has announced changes to its corporate bylaws and detailed information regarding its upcoming annual shareholder meeting. The amendments to the bylaws and the shareholder nomination process, as stated in a recent 8-K filing with the SEC, took effect on February 12, 2025. According to InvestingPro data, the company maintains a strong financial health score and has delivered an impressive 48% return over the past six months.
The key changes to the bylaws include lowering the threshold for stockholder-approved amendments from 75% to a simple majority of the voting power. Additionally, the company now allows stockholders with at least 20% of the voting power to call special meetings. The timeframe for stockholder nominations and proposals for the annual meeting has been adjusted to 90-120 days prior to the one-year anniversary of the preceding year’s meeting.
These changes come as Masimo prepares for its 2025 Annual Meeting of Stockholders, scheduled for April 29, 2025. The company will provide further details about the meeting in its proxy statement. With its stock trading near its 52-week high of $183.14, investors can access comprehensive analysis and 12 additional key insights through InvestingPro’s detailed research reports.
Stockholders interested in submitting proposals for the 2025 Annual Meeting must send their submissions to the Corporate Secretary by March 1, 2025, to be considered for inclusion in the proxy materials. This deadline aligns with SEC regulations for reasonable notice prior to the distribution of proxy materials.
Furthermore, the company’s revised bylaws permit eligible stockholders to nominate director candidates for inclusion in the proxy materials, provided they deliver a proxy access notice by the March 1, 2025 deadline.
Masimo Corporation specializes in non-invasive patient monitoring technologies and is based in Irvine, California. The company is set to report its next earnings on February 25, 2025. The information contained in this article is based on the company’s SEC filing and InvestingPro data, which provides detailed financial analysis and valuation metrics for over 1,400 US stocks.
In other recent news, Masimo Corp reported preliminary fourth-quarter sales of $601 million, surpassing the consensus estimate of $591 million. This reflects a 9% growth on a constant currency basis, driven by stronger-than-expected non-healthcare sales. The company has also increased its fiscal year 2025 sales growth forecast to 8-11% and projects an operating margin improvement to approximately 26.5%. Masimo anticipates earnings per share (EPS) between $4.90 and $5.10. Jefferies analyst Matthew Taylor raised the price target for Masimo shares to $165 from $145, maintaining a Hold rating. Meanwhile, Needham also reiterated a Hold rating, following Masimo’s revenue preannouncement that exceeded expectations. In other developments, Masimo announced the immediate termination of Executive Vice President Tom McClenahan and the upcoming resignation of board member Robert Chapek. These executive changes were disclosed in recent 8-K filings with the Securities and Exchange Commission.
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