Masimo Corporation MASI has been gaining investor confidence on continued positive results. Over the past year, the stock has rallied 57% compared with the industry’s 9.4% rise. Also, the company has outperformed the S&P 500’s 8.2% rise.The company has an encouraging earnings surprise history, having outpaced the Zacks Consensus Estimate in each of the trailing three quarters, the average being 7.1%. Notably, the consecutive beats underline its operating efficiency. A solid view for 2019 and a slew of developments are working in favor of the stock. With solid prospects, this Zacks Rank #2 (Buy) stock is an attractive investment pick for now.What’s Working in Favor?Solid ViewFor 2019, Masimo expects total revenues of $912 million, reflecting year-over-year growth of 10.7% and 9.9% at constant currency. Adjusted product earnings per diluted share of $3.08 is expected to increase 16.2% from 2018.Adjusted EBITDA is projected at 30.4% for 2019.DevelopmentsMasimo has seen a slew of positive developments of late.Last month, the company announced FDA clearance of the Rad-67 Pulse CO-Oximeter with Spot-check Next Generation SpHb. (Read More: Masimo Gets FDA Clearance for Rad-67 Monitoring Device)Additionally, St. Luke’s, a regional network of hospitals, has expanded their use of a variety of Masimo technologies, which has led to impressive outcomes. Notably, St. Luke’s has been utilizing Masimo’s flagship products, like Masimo Patient SafetyNet, Masimo Root patient monitoring, Masimo Radius-7 tetherless and wearable Pulse CO-Oximeters.Moreover, Masimo’s Next Generation SedLine brain function monitoring for pediatric patients received CE Mark. With this approval, the Next Generation SedLine are available for all patients a year old and above in countries which accept the CE Mark.Product LaunchesIn recent times, Masimo has launched a number of products like RAS-45, an acoustic respiration sensor for rainbow Acoustic Monitoring (RAM), for treating infant and neonatal patients. Additionally, Masimo announced the launch of Doctella, a home-based patient engagement and remote care automation platform.Masimo Corporation Price and Consensus Masimo Corporation Price and Consensus | Masimo Corporation QuoteWhich Way Are Estimates Treading?The Zacks Consensus Estimate for first-quarter earnings per share is pegged at 75 cents. The same for revenues stands at $223.2 million, indicating a 4.8% rise.The Zacks Consensus Estimate for full-year earnings is at $3.08, showing 1.7% growth from 2018. The same for revenues stands at $912.9 billion, indicating a 6.4% rise.Bottom LineMasimo seems to be positioned for growth on a solid view for 2019 and a series of encouraging developments. The company's long-term earnings growth rate of 15.6% supports our view.Key PicksOther top-ranked stocks in the broader medical space are Varian Medical VAR, Penumbra PEN, Wright Medical WMGI, each carrying a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Varian Medical's long-term earnings are expected to grow 8%.Penumbra has a long-term earnings growth rate of 20.9%.Wright Medical’s long-term earnings growth is projected at 11.3%.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Masimo Corporation (MASI): Free Stock Analysis Report Penumbra, Inc. (PEN): Free Stock Analysis Report Varian Medical Systems, Inc. (VAR): Free Stock Analysis Report Wright Medical Group N.V. (WMGI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research