Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
iRhythm Technologies, Inc. IRTC has received regulatory approval from Japan’s Pharmaceutical and Medical Device Agency for its Zio long-term continuous ECG monitoring (LTCM) system.
The Zio system, which provides 14 days of continuous heart monitoring, combines a wearable patch device with AI-powered analysis through Zio ECG Utilization Software for high diagnostic accuracy to help doctors make the right diagnosis the first time. With this approval, iRhythm aims to secure reimbursement from Japan’s Ministry of Health, Labour and Welfare (MHLW) to make this technology more accessible. Japan's MHLW designated iRhythm's Zio system for high medical needs, a rare distinction for innovative devices with significant medical utility.
iRhythm's deep learning technology can accurately classify a wide range of arrhythmias, matching the diagnostic performance of cardiologists. In clinical settings, this AI-driven system helps reduce misdiagnosed ECG interpretations, enhancing diagnostic accuracy and improving clinical efficiency.
Shares of IRTC have lost 0.1% since the announcement on Sept. 11.
Japan’s Regulatory Approval Elevates IRTC's Zio ECG System
Per iRhythm, this approval marks a major milestone in cardiac care for Japan, the second-largest ambulatory cardiac monitoring market. Currently, most patients rely on outdated Holter monitoring, but the Zio system offers greater accuracy and longer monitoring times, reducing misdiagnoses and improving clinical efficiency.
With Japan’s aging population and increasing stroke and cardiovascular disease burden, it has been recommended by the Japanese Heart Rhythm Society that the adoption of Zio’s advanced AI-powered ECG technology is expected to meet the growing demand for better arrhythmia detection in Japan. iRhythm’s partnership with local distributors positions the company to enhance patient outcomes globally.
Japan is poised for growth due to its aging population and rising cardiovascular disease burden with 1.6 million cardiac tests annually.
iRhythm Expands Global Reach in Cardiac Monitoring Solutions
iRhythm Technologies, which has processed over eight million patient reports and accumulated 1.8 billion hours of ECG data, is preparing to launch its Zio ECG systems in Japan after receiving regulatory approval. The company has signed a distribution agreement, awaiting reimbursement approval. iRhythm’s Zio monitor systems are already available in the United States, the United Kingdom and parts of Europe, including Austria, the Netherlands, Spain and Switzerland.
Market Prospects Favoring IRTC
Per a report in Grand View Research, the global arrhythmia monitoring devices market size is estimated to be $7.85 billion in 2024. It is anticipated to reach $12.03 billion by 2030 at a CAGR of 7.4%.
The robust growth is likely to be driven by the rise in heart rhythm irregularities, the development of AI-powered devices, the broader use of remote cardiac monitoring and user-friendly device designs. Additionally, increasing adoption by medical professionals, technological advancements and growing investment in innovative devices are fueling this market’s rapid growth.
Recent Developments at iRhythym
This Month, iRhythm shared promising real-world data on its next-generation Zio LTCM patch ECG device at the Heart Rhythm Society’s HRX 2024 meeting. The Zio monitor, designed to be smaller, lighter and waterproof with a breathable adhesive, demonstrated significant improvements over its predecessor, Zio XT. This study suggests that the new device enhances patient monitoring and detection of heart rhythm abnormalities.
Last Month, iRhythm launched its Zio monitor and LTCM service in Austria, the Netherlands, Spain and Switzerland. The Zio monitor, offering up to 14 days of continuous ECG monitoring, received CE Marking under the European Union Medical Device Regulation in December 2023. This expansion provides a significant improvement over traditional 24-48-hour Holter monitoring.
IRTC Stock Price Performance
Shares of iRhythm have plunged 30.1% year to date compared with the industry’s 12.1% decline. The S&P 500 has witnessed a 16.2% rise in the same time frame.
Zacks Rank & Key Picks
Currently, iRhythm carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Universal Health Services UHS, Quest Diagnostics DGX and Aveanna Healthcare AVAH. While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and Aveanna Healthcare carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have risen 3.7% year to date compared with the industry’s 10.2% growth.
Aveanna Healthcare's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 47.5%.
AVAH's shares have surged 104.5% year to date compared with the industry’s 15.7% growth.
Zacks Investment Research
The Cigna Group’s CI Cigna Healthcare division, has unveiled a new E-Treatment option via MDLIVE by Evernorth. This new treatment option will provide customers with a flexible option for urgent care through phone or video consultations. This option is available to Cigna Healthcare’s U.S. customers who have insurance coverage through an employer or individual marketplace.
This innovative service allows users to manage conditions such as allergies, urinary tract infections, and minor respiratory issues by submitting a virtual clinical interview on the MDLIVE platform. Within roughly one hour, they receive a diagnosis and personalized treatment plan. This move bodes well for CI as this would free up doctors for more serious cases, enhancing clinician productivity.
This launch aligns with Cigna’s commitment to providing convenient healthcare solutions, allowing customers to focus on their health while maintaining busy schedules. Early results indicate that 99% of patients are satisfied, and over one third are using MDLIVE's virtual services for the first time. The platform, available to many Cigna Healthcare customers at no cost, is expected to significantly boost Cigna's service appeal. Customers also have access to primary care, dermatology and behavioral.
Making care accessible in various ways is expected to enhance patient convenience and retain existing customers, along with attracting new ones. This would lead to improved top-line growth in the future. Operational efficiencies and potential reduction in any claim costs might lead to improved profitability in the future. This new launch should aid Cigna Healthcare achieve its long-term average annual adjusted earnings growth in the band of 7-10%.
Cigna’s Zacks Rank & Price Performance
CI currently carries a Zacks Rank #3 (Hold). Shares of Cigna have gained 19.5% in the year-to-date period compared with the industry’s 8.6% rise.
Stocks to Consider
Some better-ranked stocks in the Medical space are Universal Health Services, Inc. UHS, The Ensign Group, Inc. ENSG and HealthEquity, Inc. HQY. Universal Health currently sports a Zacks Rank #1 (Strong Buy), and Ensign Group and HealthEquity carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 14.58%. The consensus estimate for UHS’ 2024 earnings indicates a rise of 51% from the year-ago number. The consensus mark for revenues indicates growth of 9.8% from the year-ago figure.
Ensign Group’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 1.40%. The consensus estimate for ENSG’s 2024 earnings indicates a rise of 14.1% from the year-ago number. The consensus mark for revenues implies an improvement of 13.1% from the year-ago figure.
HQY beat earnings estimates in each of the last four quarters, with an average surprise of 19.8%. The Zacks Consensus Estimate for HealthEquity’s current-year earnings implies a 36.9% increase from the year-ago reported figure. The consensus mark for its current-year revenues is pegged at almost $1.2 billion, which indicates a 17.7% year-over-year increase.
Zacks Investment Research
Pacific Biosciences of California, Inc. (PACB) or PacBio recently announced a collaboration with HiFi Solves Sub-Fertility Consortium, led by KK Women’s and Children’s Hospital in Singapore. The consortium will use PACB’s HiFi long-read sequencing to pioneer advancements in diagnosing and treating subfertility and recurrent pregnancy loss (RPL). The consortium includes experts from five leading centers across the Asia-Pacific region and leverages DNAstack’s federated data platform to ensure secure, global collaboration on genomic datasets.
The HiFi Solves Sub-fertility Consortium aims to reduce the lengthy and frustrating "diagnostic odyssey" many patients face, providing a more efficient path to diagnosis and care. The initiative is expected to significantly improve the success of assisted reproductive technologies, including preimplantation genetic testing for structural rearrangements, ultimately leading to higher conception rates and healthier pregnancies.
Shares of PACB, however, closed 3.5% lower on Sept. 11 following the news.
PacBio’s Key Partnership Boosts HiFi Sequencing's Impact
Utilizing PacBio’s HiFi sequencing technology, the consortium will offer a precise, high-resolution analysis of complex chromosomal abnormalities, surpassing traditional methods. This initiative has the potential to streamline fertility diagnoses, enhance assisted reproductive technologies and revolutionize care for millions affected by subfertility and RPL worldwide. The project underscores PacBio’s role in advancing reproductive health through cutting-edge genomic medicine.
Subfertility affects one in six people globally, while RPL impacts 1-2% of women, causing significant psychological and financial strain. The HiFi Solves Sub-fertility Consortium uses PacBio HiFi sequencing technology to address these challenges directly.
Unlike traditional methods like karyotyping or whole-exome sequencing, HiFi sequencing provides a high-resolution, comprehensive view of complex chromosomal rearrangements and sub-microscopic abnormalities that other technologies may overlook. This approach offers a comprehensive view of chromosomal changes, providing more accurate characterization, especially in cases of subfertility and RPL, where multiple genetic factors may be at play. This advanced approach promises more accurate diagnoses and better outcomes for affected individuals.
Updates on PacBio’s Upcoming HiFi Initiatives
The HiFi Solves Sub-Fertility Consortium will implement a phased approach through 2025, focusing on patient recruitment, advanced sequencing, bioinformatics analysis and rigorous result validation. The consortium aims to influence global clinical practices by contributing to peer-reviewed publications and showcasing breakthroughs at international conferences. This project marks a major leap in genomic medicine for reproductive health.
Market Prospects Favoring PACB
Per a report in Grand View Research, the global long-read sequencing market size was worth $572.9 million in 2023. It is anticipated to reach $3.78 billion by 2030 at a CAGR of 30.92%.
The robust growth is likely to be driven by the advantages offered by long-read sequencing techniques, potential applications in clinical sequencing and analysis and advancements in data analysis platforms.
PACB Stock Price Performance
Shares of PacBio have plunged 82.9% year to date against the industry’s 9.2% growth. The S&P 500 has witnessed a 15% rise in the same time frame.
Zacks Rank & Key Picks
Currently, PacBio carries a Zacks Rank #3 (Hold).
Some top-ranked stocks in the broader medical space are Universal Health Services UHS, Quest Diagnostics DGX and Aveanna Healthcare AVAH. While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and Aveanna Healthcare carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have risen 3.7% year to date compared with the industry’s 10.2% growth.
Aveanna Healthcare's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 47.5%.
AVAH's shares have risen 104.5% year to date compared with the industry’s 15.7% growth.
Zacks Investment Research
Labcorp Holdings, Inc. LH has been benefiting from the solid execution of its strategic priorities. Investments in targeted high-growth areas are expected to continue the momentum. The company faces headwinds from macroeconomic uncertainties and growing foreign exchange issues. The stock carries a Zacks Rank #3 (Hold) currently.
Factors Driving LH Stock
As part of its expansion efforts, Labcorp is focusing more on key growth areas such as oncology, women’s health, autoimmune disease and neurology. The company’s ability to develop, license and ultimately scale specialty testing, including companion diagnostics, can be pivotal in significantly driving near-term growth. Labcorp has consistently reinforced its position as a preferred partner for health systems and regional local laboratories. New deal announcements, such as purchasing assets of Invitae, showcase its robust business development pipeline and also further its strategy to launch and scale specialty testing in oncology and rare diseases areas.
Furthermore, the company is well-placed for long-term success in Cell & Gene Therapy, expanding into the consumer market and international growth through the specialty testing and biopharma business. In June 2024, Labcorp Tissue Complete comprehensive genomic profiling (CGP) service was availed in Geneva and Shanghai to support global clinical trials. The integration of OmniSeq INSIGHT circulating tumor DNA expanded Labcorp’s leadership in liquid biopsy comprehensive genomic profiling for solid tumors.
LabCorp’s Biopharma business is benefiting from collaborations with leading pharmaceutical and biotechnology companies with whom it started to work on potential antivirals, treatments and vaccines. Revenue-wise, Biopharma's growth continues to be driven by strength in central laboratories, its largest part, which improved 9% in the second quarter of 2024. The Early Development business is also recovering sequentially, led by reduced cancellations and improvement in bookings, and is expected to generate higher revenues in the second half of the year.
Labcorp has placed a continued focus on expanding its margins though the LaunchPad initiative. The company’s 2024-2026 guidance includes a savings target range of $100 million-$125 million annually. The benefits will be driven by rationalizing the geographic location of facilities and talent, leveraging technological advancements and structural enhancements, integrating acquisitions, and re-engineering the company’s systems and processes. In the second quarter, the rise in operating income and margin was fueled by strong demand and LaunchPad savings.
Labcorp Price
Labcorp price | Labcorp Quote
The stock has risen 11.1% in the past three months against the industry’s 2.7% decline. With the company strategically expanding in high-growth areas, as well as putting focus on cost-saving initiatives, we expect the stock to continue its upward movement in the coming days.
Factors Weighing on LH Stock
Labcorp’s operation is heavily dependent on the demand for diagnostic testing and drug development services from patients, physicians, hospitals, medical device companies and others. Volatilities in global economic conditions, including inflation and the risk of short or long-term recession, could reduce the demand for these services, affecting customers’ ability to pay and, consequently, the profitability of the company.
Added to this, the escalation of the present geopolitical situations in Ukraine and the Middle East can potentially decrease testing volumes, cause disruptions in the supply chain and services and increase the prices of offerings. In the second quarter, the cost of revenues went up 4.7% year over year. SG&A expenses increased 10.3%, mainly due to higher personnel costs.
Labcorp's huge exposure in international markets makes it vulnerable to currency fluctuations. In 2023, the BLS segment derived nearly 58% of its revenues from overseas, while Dx also earned a modest portion in Canada and a relatively small amount in the rest of the world. An approximate 13.7% of the company's revenues were denominated in currencies other than the U.S. dollar in the first half of 2024.
With the recent upward trend observed in the value of the U.S. dollar, further acceleration is expected by analysts in this value, which will cause the company’s revenues to face a tough situation overseas. In the second quarter, both BLS and Dx revenue growth was partially offset by unfavorable foreign currency translation of 0.1%.
Key Picks
Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, TransMedics Group TMDX and Quest Diagnostics DGX. While Intuitive Surgical and TransMedics currently sport a Zacks Rank #1 (Strong Buy) each, Quest Diagnostics 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 60.5% in the past year. Estimates for the company’s earnings have moved 5.1% north to $1.65 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 EPS have moved up 125% to 27 cents in the past 30 days. Shares of the company have soared 135.2% in the past year compared with the industry’s 14.9% 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 1.7% to $2.40 in the past 30 days. In the past year, shares of BSX have risen 55.5% compared with the industry’s 17.9% 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
Pacific Biosciences of California, Inc. PACB, popularly known as PacBio, has been gaining from its continued focus on research and development and a robust product portfolio. The optimism, led by a decent second-quarter 2024 performance and its product development activities, is expected to contribute further. However, stiff competition and longer purchasing cycles remain a cause of concern.
In the year-to-date period, this Zacks Rank #3 (Hold) company has lost 82.3% against 9.2% growth of the industry. The S&P 500 Composite has also gained 15% in the said time frame.
The renowned global provider of sequencing systems has a market capitalization of $452.4 million. The company projects 13.5% growth for 2024 and expects to maintain its strong performance in the future. PacBio’s earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and met the same in one, delivering an average surprise of 9.9%.
Reasons Favoring PacBio’s Growth
Focus on R&D: We are optimistic about PacBio’s continued R&D efforts that focus on programs to develop new and existing platforms, as well as increasing throughput and decreasing costs on behalf of its customers.
PacBio is working toward improving commercial execution to drive the adoption of both the Revio and Onso platforms. In May, PacBio launched an attractive promotional offer for the system, which garnered customer interest and increased order opportunities for Onso’s sales pipeline.
Per the management, PACB is also working on a high-throughput short-read platform, which should make it possible for the business to supply its industry-leading Sequencing by Binding technology to high-throughput labs. The company anticipates that it will compete strongly with rival services in terms of pricing and throughput. The addressable market for this platform, per management, is projected to be more than $1 billion annually.
PacBio also continues to develop its next-generation SMRT cell. This cell is expected to power a new long-read platform whose throughput exceeds the Revio system.
Robust Product Portfolio: We are optimistic about PacBio's solid product portfolio which has been fortifying the company’s footprint worldwide. The company witnessed tremendous interest in its Kinnex full-length RNA kits, which were launched in the fourth quarter of 2023. In the second quarter of 2024, Kinnex surpassed $1 million in quarterly revenues and helped drive Revio placements.
The company also launched and began shipping of PacBio PureTarget panel in late March. PacBio’s Nanobind DNA extraction kit, which the company started to ship in March 2024, is witnessing great interest from customers ranging from pediatric hospitals to large commercial testing labs, biopharma, and academic labs.
PacBio’s Hifi prep and plex library prep, which was launched during the first quarter, is further enabling the customers to automate and scale on the Revio platform. These kits allow Revio customers to prepare up to 96 libraries at a time at a lower cost per library.
PacBio is also continuously enhancing its software, along with launching new library prep and sample prep solutions, that would make its sequencing more accessible. Management believes that the new products may contribute to a recurring revenue stream apart from the core SMRT cells and sequencing reagents.
Mixed Q2 Results: PacBio exited the second quarter of 2024 with mixed results, where earnings beat the Zacks Consensus Estimate, and revenues missed the same.
PACB saw an uptick in Service and other revenues, as well as Consumables revenues.However, geographically, revenues declined in the Americas, Asia-Pacific region and EMEA, which seems concerning. A decrease in adjusted gross profit does not bode well for the stock. However, continued strong prospects in the Revio system, with customers placing orders for these, looked promising for the stock.
Factors That May Offset the Gains for PACB
Longer Purchasing Cycles: The company is facing longer customer purchasing cycles, especially for Revio. The instrument shortfall primarily resulted from elongated customer purchasing cycles as the median sales cycle for Revio instrument purchases increased more than the company expected in the second quarter of 2024. More specifically, PACB believes that the sales cycle increased primarily because of uncertainty surrounding the timing of funding for new capital equipment, particularly in the United States and China.
The company is facing pricing pressure in China, which impacted Revio sales during the second quarter. Further, the company has experienced, and may in the future also experience, difficulty in managing or forecasting customer reactions, purchasing decisions or transition requirements with respect to newly launched products.
Business Seasonality: PacBio operates on a December year-end basis and believes that there are significant seasonal factors that may cause sales of its products, and particularly its sequencing instruments, to vary on a quarterly or yearly basis, contributing to the lengthy sales cycle for its sequencing instruments, and increase the magnitude of quarterly or annual fluctuations in its operating results.
Estimate Trend
PacBio has been witnessing a stable estimate revision trend for the third quarter of 2024, ahead of its earnings. Over the past seven days, the Zacks Consensus Estimate for its adjusted loss per share is pinned at 20 cents.
The Zacks Consensus Estimate for revenues is pegged at $41.9 million, indicating a 24.7% decrease from the year-ago reported number.
Key Picks
Some better-ranked stocks in the broader medical space are Universal Health Service UHS, Quest Diagnostics DGX and ABM Industries ABM. While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 56.1% compared with the industry's 48.1% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 13.9% so far this year compared with the industry’s 17.9% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 27.4% so far this year compared with the industry’s 17% growth.
Zacks Investment Research
Pacific Biosciences of California, Inc. PACB has announced a collaboration with the University Hospital of Munster to use its Revio HiFi sequencing system in advancing research on male infertility and rare diseases.
Munster is pioneering long-read whole genome sequencing in Germany, integrating it into research and diagnostics. This initiative will explore complex genetic issues, including the Y chromosome’s role in male infertility, and support Germany’s GenomeDE Modellvorhaben project. The results will also benefit the International Male Infertility Genomics Consortium, connecting with eight other countries.
Shares of PACB have gained 31.8% since the announcement on Sept. 4.
Significance of PacBio’s Collaboration
This partnership enhances PacBio’s role in advancing genomics within healthcare by addressing complex genetic challenges, particularly male infertility. The system’s accuracy will provide critical insights into the Y chromosome, which will help uncover the genetic causes of male infertility, providing critical insights that are especially valuable for aging European populations facing declining birth rates and increasing healthcare demands. The collaboration will also strengthen PacBio’s growth in Europe and play a key role in integrating genomic medicine into everyday clinical practice, particularly for rare diseases and cancer.
The University of Munster plans to sequence the genomes of 500 male infertility patients using PacBio’s Revio system within the next year. It will also lead trio sequencing of rare disease families to identify whether genetic disorders are inherited maternally or paternally.
PacBio’s HiFi technology will support research into male infertility at the University of Munster's Center of Medical Genetics. This partnership, part of PacBio’s European growth strategy, aims to advance the center’s research into male infertility, familial cancer and rare diseases, addressing critical healthcare challenges in Germany and beyond. PacBio sees this collaboration as key to fulfilling its mission of leveraging genomics to improve global health outcomes.
Market Prospects Favoring PACB
Per a report in Straits Research, the global genome sequencing market size was worth $41.92 billion in 2023. It is anticipated to reach $101.23 billion by 2032 at a CAGR of 11.7%.
The robust growth is likely to be driven by a rising patient population and increasing demand for flexible bioprocessing. The shift in rare disease diagnosis from symptom-based analysis to genomics, which enables targeted therapies and better care, is also boosting demand.
A Recent Development at PacBio
In May, PacBio was selected alongside Ambry Genetics to support the University of California, Irvine, and the GREGoR Consortium in the Pediatric Mendelian Genomics Research Center program. This NIH-funded initiative will use PacBio's long-read sequencing technology to analyze up to 7,000 genomes over three years, aiming to uncover the genetic causes of rare diseases that previous genomic analysis could not identify.
PACB Stock Price Performance
Shares of PacBio have plunged 82.3% year to date against the industry’s 15.7% growth. The S&P 500 has witnessed a 14.4% rise in the same time frame.
Zacks Rank & Key Picks
Currently, PacBio carries a Zacks Rank #3 (Hold).
Some top-ranked stocks in the broader medical space are Universal Health Services UHS, Quest Diagnostics DGX and Aveanna Healthcare AVAH. While Universal Health Services sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and Aveanna Healthcare carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Services has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Services has gained 41.1% compared with the industry's 34.8% growth year to date.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have risen 3.7% year to date compared with the industry’s 10.2% growth.
Aveanna Healthcare's earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 47.5%.
AVAH's shares have risen 104.5% year to date compared with the industry’s 15.7% growth.
Zacks Investment Research
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.