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Boston Scientific Corporation BSX recently received the Food and Drug Administration’s (FDA) approval to expand the indication for current-generation INGEVITY+ Pacing Leads. Expanded indication for INGEVITY+ Pacing Leads means thin wires will be placed inside the heart that will be connected to an implantable device. It can be used to include conduction system pacing (CSP) and sensing of the left bundle branch area (LBBA) when connected to a single or dual-chamber pacemaker.
The latest FDA approval enhances Boston Scientific’s commitment to developing safe and effective pacing technologies by providing physicians with LBBA-specific tools and educational resources.
BSX’s Likely Stock Trend Following the News
Following the announcement, shares of Boston Scientific lost 1.2% to $82.52 yesterday. However, the company continues to gain a high level of synergies from its continuous development within the cardiology space. Accordingly, we expect market sentiment toward BSX stock to eventually gain investors' optimism over this development.
Importance of BSX’s Expanded indication for INGEVITY+ Pacing Leads
Pacing of the LBBA is an alternative to traditional right ventricular pacing for the treatment of symptomatic bradycardia — a condition in which the heart beats too slowly. This pacing approach uses the heart's natural electrical system to place a lead in the LBBA of the heart's conduction system. This technique is expected to promote greater ventricular synchrony and reduce the long-term risk of heart failure associated with traditional right ventricular pacing.
Hence, the expanded indication for the INGEVITY+ Pacing Lead should enhance the implant experience for physicians and provide flexibility to determine the most appropriate pacing strategy based on individual patient characteristics.
Details of the FDA Approval
Clinical evidence submitted to the FDA to support the expanded indication includes data from approximately 400 patients from the INSIGHT-LBBA study. The study shows an analysis of the INGEVITY+ pacing leads that were previously implanted in the LBBA for anti-bradycardia pacing and were supplemented with bench testing and LATITUDE Programming System data.
Data demonstrated this lead to be safe and effective for LBBA pacing, allowing Boston Scientific to provide a new therapeutic option on a proven lead.
More on the News
The expanded indication followed the launch of the Boston Scientific CSP portfolio, including the OneLINK Splitter Cable, the INGEVITY+ Helix Locking Tool and site-selective pacing delivery catheters.
Industry Prospects Favor Boston Scientific
Per a Verified Market Research report, the pacing lead market was valued at $5.68 billion in 2024 and is projected to reach $7.8 billion by 2031, at a compound annual growth rate of 4.43% during the period. Key factors driving market growth include the increasing prevalence of cardiovascular diseases, technological advancements and the growing preference for minimally invasive operations.
Recent Development by BSX
On Tuesday, the company closed its acquisition of Silk Road Medical, Inc. With this, Boston Scientific should be able to strengthen its vascular technology solutions by bringing the innovative TCAR platform to a greater number of physicians and their patients (through the company’s significant commercial reach).
BSX’s Price Performance
In the past year, shares of BSX have risen 55.7% compared with the industry’s 20.3% growth.
BSX’s Zacks Rank and Other Key Picks
BSX currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are TransMedics Group TMDX, AxoGen AXGN and OrthoPediatrics KIDS. While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 165.9% in the past year compared with the industry’s 17.6% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%
Estimates for 2024 OrthoPediatrics’ loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 0.8% against the industry’s 18.1% growth. In the last reported quarter, KIDS delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
Zacks Investment Research
Charles River Laboratories International, Inc. CRL and CEBINA GmbH (Central European Biotech Incubator and Accelerator) have formed a strategic alliance under the DanubeNeuro acceleration program — an initiative focused on advancing groundbreaking academic research projects in the field of neurodegeneration, dementia and aging. The company’s extensive experience in neurotherapeutics will assist CEBINA in selecting and developing new product candidates.
Predicting CRL Stock’s Movement Following the Announcement
After the news release, shares of CRL rose 1.2% to $206.21 at the close of yesterday’s trading session. The latest development is expected to significantly boost the company’s Discovery Services business, a part of the Discovery and Safety Assessment (“DSA”) segment.
Recent advancements in genetics, pathology and biomarkers are speeding up the process of neuroscience drug discovery. Charles River is contributing to shaping neuroscience research, from providing deep translational expertise for preclinical models to novel drug discovery therapeutics, manufacturing and commercialization. We expect the market sentiment toward the stock to get a boost, driven by this development.
Impact of Charles River’s Participation in DanubeNeuro
With the trend of increasing lifespan, age-related conditions such as neurodegenerative disorders are becoming major and growing unmet medical needs worldwide, carrying significant and growing public health and societal implications. Given the urgent need for novel strategies and approaches to tackle complex diseases like Alzheimer’s and Parkinson’s, it is crucial to speed up the process of turning innovative academic ideas into viable drug development programs.
Launched by CEBINA earlier this year, DanubeNeuro identifies and develops pioneering research projects with the potential to create advanced drugs, diagnostic methods, disease biomarkers and imaging techniques for neurodegenerative diseases. CEBINA’s comprehensive selection process covers the key aspects of drug discovery and early-phase product development.
Projects selected for acceleration within DanubeNeuro will benefit from CEBINA’s experience from other acceleration programs, as well as Charles River’s knowledge and extensive expertise in drug discovery and development in the central nervous system field. DanubeNeuro is supported by a dedicated fund, Danube BioVentures. Together, Charles River and CEBINA will enhance this program’s potential to accelerate innovation in neurodegeneration.
Industry Prospects Benefiting CRL
According to Allied Market Research, the global neurodegenerative drugs market is forecasted to witness a compound annual rate of 7.5% through 2031 from a valuation of $36.28 billion in 2021. The rising prevalence of neurodegenerative diseases such as Parkinson’s, multiple sclerosis and Alzheimer's disease is fueling the demand for neurogenerative drugs. The growth of the market is likely to be driven by the high potential in untapped, emerging markets due to the availability of improved healthcare infrastructure and rising chronic disease rates.
Charles River’s Recent Developments
Earlier this month, Charles River and Insightec formed a five-year strategic partnership to integrate focused ultrasound for drug discovery and preclinical development of therapeutics in neuroscience. The collaboration will provide Charles River’s clients with access to a comprehensive global service and technology platform. Insightec’s novel low-frequency ultrasound platform non-invasively disrupts the blood-brain barrier, enabling drugs to be delivered to targeted brain areas.
CRL Stock Price Performance
Over the past year, shares of the company have fallen 1.1% against the industry’s growth of 15.1%.
CRL’s Zacks Rank and Top MedTech Stocks
Charles River carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Boston Scientific BSX, AxoGen AXGN and Phibro Animal Health PAHC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boston Scientific’s shares have risen 55.6% in the past year. Estimates for the company’s earnings per share have remained constant at $2.40 in 2024 and $2.71 in 2025 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 7.2%. In the last reported quarter, it posted an earnings surprise of 6.9%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 177.7% in the past year compared with the industry’s growth of 18%. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for Phibro Animal Health’s 2024 earnings per share have risen 0.7% in the past 30 days. Shares of the company have rallied 79% in the past year compared with the industry’s 20.6% growth. PAHC’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 4.1%. In the last reported quarter, it delivered an earnings surprise of 20.6%.
Zacks Investment Research
Reporter Name | Hassanein Waleed H |
Relationship | President & CEO |
Type | Sell |
Amount | $1,323,209 |
SEC Filing | Form 4 |
TransMedics Group's President & CEO, Hassanein Waleed H, sold 8,625 shares of Common Stock on September 16, 2024, for a total sale amount of $1,323,209. The sales were conducted at weighted average prices ranging from $151.1 to $156.48. Following these transactions, Hassanein directly owns 61,643 shares and indirectly owns 469,359 shares through the Waleed H. Hassanein Revocable Trust. All transactions were executed under a Rule 10b5-1 trading plan established on September 6, 2023.
SEC Filing: TransMedics Group, Inc. [ TMDX ] - Form 4 - Sep. 17, 2024
Phibro Animal Health Corporation’s PAHC sustained growth in the Animal Health business is backed by robust sales of vaccines and Medicated Feed Additives ("MFAs"). The company’s focus on advancing vaccine technologies, along with the new vaccine production unit, instills optimism. Strong sales growth outside the United States seems encouraging. Yet, adverse macroeconomic impacts are a concern for Phibro’s operations.
In the past year, this Zacks Rank #2 (Buy) stock has rallied 71.5% compared with the industry’s 19.5% growth and the S&P 500 composite's 25.7% increase.
The renowned animal health and mineral nutrition company has a market capitalization of $872 million. PAHC has an earnings yield of 21% compared with the industry’s 14.1%. In the last reported quarter, Phibro delivered an earnings surprise of 20.59%.
Let’s delve deeper.
Key Upsides of Phibro
Animal Health Business Growth Continues: With the rise in scarcity of natural resources, demand for efficient production of animal food such as poultry, swine and cattle has increased. Phibro’s key animal health products, including MFAs and nutritional specialty products, help enhance animal nutrition. The company also manufactures vaccines, which protect animals from both viral and bacterial diseases.
During the fiscal fourth quarter, Phibro entered into a Purchase and Sale Agreement with Zoetis to acquire Zoetis’ MFA product portfolio, certain water-soluble products and related assets.
The Animal Health business witnessed 8% sales growth year over year in the fiscal fourth quarter. The upside was driven by a robust 14% increase in vaccine net sales, due to poultry product introduction in Latin America and a rise in domestic demand. Phibro reported MFAs and Other net sales growth of 12% due to strong demand in both domestic and international regions.
Potential in Emerging Markets: Phibro’s existing operations and established sales, marketing and distribution network in more than 80 countries provide it with ample scope to take advantage of global growth opportunities. Outside the United States, its global footprint extends to key high-growth regions, including Brazil and other countries in South America, Southeast Asia, Eastern Europe and Africa.
At the end of fiscal 2024, the company’s operations in countries outside the United States contributed approximately 42.5% to its total revenues.
Prospering Vaccine Business: Phibro is focusing on new developments along with incremental registrations and growing volumes of existing vaccine technologies. The company also makes significant investments to expand vaccine manufacturing capacity at several locations.
The vaccine business witnessed a robust 21% improvement in fiscal 2024, driven by a strong uptake across various regions, especially in Latin America. It also benefited from growing domestic demand. The company launched new commercial vaccines and looks forward to bringing additional vaccines to the Americas.
Key Downside of Phibro
Macroeconomic Concerns: In the current scenario, Phibro’s business could be severely impacted by economic sanctions, bans and broader military conflicts resulting from the ongoing armed conflict between Russia and Ukraine. Due to such unfavorable general economic conditions, its profitability could decline and negatively affect its overall financial performance.
In the fiscal fourth quarter, Phibro’s operating profit declined 21% while the operating margin contracted.
Estimate Trend of Phibro
The Zacks Consensus Estimate for Phibro’s fiscal 2025 earnings per share (EPS) has moved 0.7% north to $1.44 in the past 30 days.
The consensus estimate for fiscal 2025 revenues is pegged at $1.19 billion. This indicates a 17.1% rise from the year-ago number.
Other Key Picks
Other top-ranked stocks in the broader medical space are TransMedix Group TMDX, Intuitive Surgical ISRG and Boston Scientific BSX.
TransMedix Group’s earnings are expected to surge 255.8% in 2024. The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 287.5%. Shares of the company have risen 156.5% in the past year compared with the industry’s 17.5% growth.
TMDX sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical, sporting a Zacks Rank of 1 at present, has an estimated long-term earnings growth rate of 17.4% compared with the industry’s 13.7%. Shares of the company have risen 64.8% compared with the industry’s 17.6% growth over the past year.
ISRG’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 8.97%.
Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated earnings growth rate of 17.1% for 2024 compared with the industry’s 15.7%. In the past year, shares of BSX have risen 57.6% compared with the industry’s 19.5% growth.
BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%.
Zacks Investment Research
Labcorp Holdings Inc. LH recently announced the completion of its acquisition of select assets of BioReference Health — a wholly-owned subsidiary of OPKO Health, Inc. (OPK). The transaction is aimed at providing customers with greater access to Labcorp's comprehensive, high-quality laboratory services, scientific expertise and expanded testing capabilities in key regions across the United States.
Likely Trend of LH Stock Following the News
Following the announcement, shares of Labcorp rose 2.1% to $225.76 yesterday. The company continues to gain a high level of synergies from its various new collaborations and acquisitions within the clinical laboratory service space. Accordingly, we expect market sentiment toward LH stock to continue to remain positive, driven by this announcement.
Details on LabCorp's Acquisition of BioReference Health
The terms of acquisition include BioReference Health's laboratory testing businesses. The laboratory testing business is focused on clinical diagnostics and reproductive and women's health in the United States outside of New York and New Jersey. The acquisition also includes BioReference Health’s certain patient service centers, customer contracts and operating assets, which currently generate approximately $100 million in annual revenues.
The acquisition will further enhance Labcorp's laboratory services network and expand access to its clinical services. The purchase price for the transaction is $237.5 million.
More on the News
The sale of these diagnostic assets is an important step toward improving efficiencies, enhancing the productivity of BioReference Health's operations and accelerating the process profitability. With the closure of the transaction, Labcorp is focused on integrating these assets to drive better health outcomes for patients.
Lazard was Labcorp's financial advisor while Hogan Lovells, Kilpatrick Townsend and Parker Poe were legal counsel. Piper Sandler & Co. was OPKO's financial advisor while Greenberg Traurig served as legal counsel.
Lapcorp’s Other Recent Developments
Earlier this month, Labcorp inked a strategic collaboration with Ballad Health to provide outreach laboratory services across the Appalachian Highlands region. Under the agreement, the company will acquire select operating assets of Ballad Health’s outreach lab services. These assets, in combination with the ongoing partnership, aim to enhance patient care, expand access to advanced testing and improve efficiency for the health system and its patients.
In August 2024, Labcorp purchased the select assets of the medical genetics company, Invitae. The acquisition will expand its specialty testing capabilities and ability to utilize genetic data to improve clinical trials and treatment regimens in oncology and select rare diseases.
Industry Prospects Favor Labcorp
Per a Fortune Business Insights report, the global clinical laboratory services market was valued at $258.71 billion in 2023 and is projected to grow from $274.21 billion in 2024 to $468.15 billion by 2032, witnessing a compound annual growth rate of 6.9% during the period.
The key factors influencing market growth include the increasing chronic diseases, the growing demand for early diagnostic tests and the rapid advancements in data management and sample preparation.
LH Stock’s Price Performance
Year to date, shares of LH have risen 12.2% compared with the industry’s 0.5% growth.
LH’s Zacks Rank and Key Picks
LH currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Boston Scientific BSX. While Intuitive Surgical and TransMedics currently sport a Zacks Rank #1 (Strong Buy) each, Boston Scientific carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical’s shares have surged 64.8% in the past year. Estimates for the company’s earnings have remained constant at $1.67 per share for 2024 in the past 30 days.
ISRG’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 8.97%. In the last reported quarter, it posted an earnings surprise of 16.34%.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 156.5% in the past year compared with the industry’s 17.5% growth.
TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for Boston Scientific’s 2024 EPS have increased 3.4% to $2.40 in the past 60 days. In the past year, shares of BSX have risen 57.6% compared with the industry’s 19.5% growth.
In the last reported quarter, BSX delivered an earnings surprise of 6.90%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.18%.
Zacks Investment Research
Masimo Corporation MASI, on Friday, announced a partnership with Google. The tie-up aims to develop a new reference platform for original equipment manufacturers (OEMs) building Wear OS by Google smartwatches.
OEMs who adopt the new Masimo platform will continue to design and produce their new smartwatches’ physical exteriors. However, the devices’ interiors, including optimized hardware and software components, biosensors, and a companion Android smartphone app, will be provided by Masimo. This is expected to ensure superior performance and unmatched user experiences.
Health and wellness capabilities will feature the same biosensing innovations and analytics that power the Masimo W1 wearable and upcoming Masimo Freedom smartwatch. The Masimo reference platform will likely make these components, features and benefits available for smartwatch manufacturers building Wear OS smartwatches in an easy-to-implement, standardized package.
Following the announcement on Sept. 13, MASI’s shares have gained 1% till the last trading.
The latest partnership is expected to significantly strengthen Masimo’s patient monitoring business.
Rationale Behind MASI’s Tie-Up
Per Masimo, by incorporating its biosensing technologies and standardizing smartwatch devices using the Masimo reference platform, OEMs will be able to build more efficiently and bring high-performing Wear OS smartwatches to market. The company believes that the robust reference platform will likely support the fast-growing Wear OS ecosystem, including a suite of health and wellness tracking tools to provide accurate, reliable data, seamless integration with Android smartphones, and improved quality and experience.
Masimo’s management expects the new wearable platform to boost the smartwatch OEMs’ abilities to create innovative, competitive and truly compelling Wear OS smartwatches for consumers.
Per Wear OS, smartwatch makers are expected to be able to benefit from Masimo’s biosensing technology and quickly bring the Wear OS devices to market, at scale, with Masimo's reference platform.
Masimo’s Industry Prospects
Per a report by MarketsandMarkets, the global patient monitoring devices market is anticipated to reach from $48.5 billion in 2024 to $71.1 billion by 2029 at a CAGR of 8%. Factors like the rising burden of chronic diseases due to lifestyle changes, growth in the elderly population, increasing preference for home and remote monitoring and the ease of use of portable devices are expected to drive the market.
Given the market potential, the latest tie-up is likely to provide a significant boost to Masimo’s business.
MASI’s Recent Partnerships
This month, Masimo announced its partnership with Qualcomm Technologies, Inc. to develop a next-generation smartwatch reference platform for OEMs building Wear OS by Google smartwatches.
The same month, Masimo announced that France-based Saint-Denis Hospital Center would be adopting the use of its SafetyNet cloud-based telemonitoring platform as part of an experimental mobile neonatology unit aimed at facilitating earlier discharge of premature newborns from the ICU to the home.
Last month, Masimo launched a partnership with March of Dimes to support new parents with babies in the Neonatal Intensive Care Unit (NICU). Through this partnership, Masimo will support March of Dimes’ NICU Family Support program, which helps over 50,000 families nationwide as they navigate the NICU experience and the transition from hospital to home.
Masimo’s Share Price Performance
Shares of the company have gained 14.2% in the past year compared with the industry’s 18.2% rise and the S&P 500's 25.9% growth.
MASI’s Zacks Rank & Other Key Picks
Currently, Masimo sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are DaVita Inc. DVA, Baxter International Inc. BAX and Boston Scientific Corporation BSX.
DaVita, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 17.5%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 24.2%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 65.6% compared with the industry’s 30.1% rise in the past year.
Baxter, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 10%. BAX’s earnings surpassed estimates in each of the trailing four quarters, with the average being 3.7%.
Baxter has gained 3.9% compared with the industry’s 20.3% rise in the past year.
Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.6%. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.2%.
Boston Scientific’s shares have rallied 57.6% compared with the industry’s 20.3% rise in the past year.
Zacks Investment Research
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