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Investors interested in stocks from the Medical - Products sector have probably already heard of Phibro Animal Health (PAHC) and Abbott (ABT). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Phibro Animal Health and Abbott are sporting Zacks Ranks of #2 (Buy) and #4 (Sell), respectively, right now. Investors should feel comfortable knowing that PAHC likely has seen a stronger improvement to its earnings outlook than ABT has recently. But this is just one factor that value investors are interested in.
Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
PAHC currently has a forward P/E ratio of 15.58, while ABT has a forward P/E of 25.34. We also note that PAHC has a PEG ratio of 1.80. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABT currently has a PEG ratio of 2.94.
Another notable valuation metric for PAHC is its P/B ratio of 3.53. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ABT has a P/B of 5.20.
These are just a few of the metrics contributing to PAHC's Value grade of A and ABT's Value grade of C.
PAHC is currently sporting an improving earnings outlook, which makes it stick out in our Zacks Rank model. And, based on the above valuation metrics, we feel that PAHC is likely the superior value option right now.
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
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
High Tide Inc. (HITI) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.02 per share. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 150%. A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced break-even earnings, delivering a surprise of 100%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
High Tide, which belongs to the Zacks Medical - Products industry, posted revenues of $96.04 million for the quarter ended July 2024, surpassing the Zacks Consensus Estimate by 2.50%. This compares to year-ago revenues of $93.17 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
High Tide shares have added about 36.8% since the beginning of the year versus the S&P 500's gain of 18%.
What's Next for High Tide?
While High Tide has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for High Tide: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.01 on $97.24 million in revenues for the coming quarter and -$0.03 on $375.72 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the top 31% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Abbott (ABT), is yet to report results for the quarter ended September 2024.
This maker of infant formula, medical devices and drugs is expected to post quarterly earnings of $1.20 per share in its upcoming report, which represents a year-over-year change of +5.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Abbott's revenues are expected to be $10.52 billion, up 3.8% from the year-ago quarter.
Zacks Investment Research
Phibro Animal Health’s PAHC diversified product portfolio and wide presence in key growth areas bolster our confidence in the stock. The stock carries a Zacks Rank #2 (Buy) currently.
Factors Driving PAHC's Growth
Phibro’s key animal health products, including Medicated Feed Additives (MFAs) and nutritional specialty products, enhance animal nutrition. The company’s leading product franchise, Stafac/V-Max/Eskalin, is approved in more than 30 countries for use in poultry and swine. Similarly, the company’s nutritional product offerings, such as OmniGen-AF and Animate, are used increasingly in the global dairy industry. The company also manufactures vaccines, which protect animals from both viral and bacterial disease challenges. Moreover, the company is committed to developing its companion animal business and pipeline. These are key growth areas for Phibro both in the short and medium term, and it has been actively investing in these growth drivers to achieve its targets.
During the fiscal fourth quarter, Phibro entered into a purchase and sale agreement with Zoetis to acquire the latter’s MFA product portfolio, certain water-soluble products and related assets. The company anticipates to complete the transaction in the initial phase of fiscal 2025.
Phibro’s existing operations and established sales, marketing and distribution network in over 80 countries provide it ample scope to take advantage of global growth opportunities. Outside the United States, Phibro’s global footprint extends to key high-growth regions (countries where the livestock production growth rate is expected to be higher than the average growth rate), including Brazil and other countries in South America, China, India and Southeast Asia, Mexico, Turkey, Australia, Canada, Poland and other Eastern European countries and South Africa and other countries in Africa.
At the end of fiscal 2024, the company’s operations in countries outside of the United States contributed approximately 42.5% of its total revenues. Our model forecasts sales in Latin America and Canada to improve 10% in fiscal 2026. For fiscal 2025, a sales improvement of 10.8% and 14% is expected from Europe, Middle East & Africa, and Asia Pacific regions, respectively.
Phibro Animal Health Corporation Price
Phibro Animal Health Corporation price | Phibro Animal Health Corporation Quote
The stock has gained 63.4% in a year compared with the industry’s 18.4% rise. With the company strategically expanding through innovation and acquisitions, as well as expanding its business footprint, we expect the stock to continue its upward movement in the coming days.
Concerning Factor for PAHC
In a challenging macro environment, the Mineral Nutrition business has been facing adverse movements in commodity prices and inventory positions. For fiscal 2024, Mineral Nutrition growth was flat year over year. While margins may return to some historical levels as the fiscal year progresses, Phibro anticipates volume recovery might be longer. Meanwhile, sales of Performance Products during fiscal 2024 also decreased 10% year over year owing to the reduced demand for personal care product ingredients and industrial chemicals. Our model suggests a sales decline of 4.9% and 6% in Nutritional Specialty and Performance Products, respectively, for fiscal 2025.
Other Key Picks
Other top-ranked stocks in the broader medical space are Boston Scientific BSX, AxoGen AXGN and SiBone SIBN, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boston Scientific’s shares have risen 52.2% in the past year. Estimates for the company’s earnings per share have remained constant at $2.40 for 2024 and at $2.71 for 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 narrowed to 1 cent from 19 cents in the past 30 days. Shares of the company have surged 126.3% in the past year compared with the industry’s growth of 13.9%. 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 SiBone’s 2024 loss per share have remained constant at 89 cents in the past 30 days. Shares of the company have plunged 27.4% in the past year against the industry’s 13.9% growth. SIBN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.4%. In the last reported quarter, it delivered an earnings surprise of 15.4%.
Zacks Investment Research
Roche RHHBY is set to enter the competitive continuous glucose monitor (CGM) market in Europe following the CE mark approval of its Accu-Chek Smartguide in July.
The Swiss pharmaceutical company plans to launch the device in the Netherlands, Switzerland and Germany, targeting adults with Type 1 or Type 2 diabetes. Sérgio Moreiras, Roche’s international business leader for continuous monitoring, shared details about the launch at the European Association for the Study of Diabetes annual meeting in Madrid.
The Accu-Chek Smartguide offers a 14-day wearability period and uses predictive algorithms that Roche believes should differentiate it from the likes of competitors like Abbott and Dexcom. However, one potential drawback is that the Smartguide requires initial calibration with a finger stick, a step that is eliminated in newer CGMs from established players — Abbott ABT and Dexcom DXCM.
RHHBY CGM’s Innovative Features and Predictive Algorithms
Roche’s CGM introduces several predictive features aimed at enhancing patient safety. The device can assess the risk of low blood glucose within 30 minutes, forecast glucose levels for the next two hours and predict the likelihood of night-time hypoglycemia. These features are designed to provide timely alerts, allowing users to take preventative actions before glucose levels drop dangerously low.
Pau Herrero, Roche’s lead for algorithm and decision support technology, emphasized that these predictions rely on machine learning models that analyze several days of patient data. This approach contrasts with the traditional trend arrows used by other CGMs, which forecast glucose levels over a shorter period of 20 minutes.
In trials conducted across three datasets, the Accu-Chek Smartguide demonstrated 95% sensitivity and 99% specificity in predicting low glucose levels within 30 minutes, along with 77% accuracy for detecting night-time hypoglycemia. RHHBY believes that these advanced predictive capabilities will make the Smartguide a unique offering in the CGM market.
Addressing the issue of hypoglycemia, Moreiras noted that it remains a significant concern for people with diabetes, especially those with Type 1. He added that more than 40% of individuals with Type 1 diabetes experience nighttime hypoglycemic events, while those with Type 2 diabetes face an average of 23 hypoglycemic incidents per year. This risk prompted Roche to focus on providing solutions to manage and prevent hypoglycemia.
RHHBY’s Price Performance
Year to date, RHHBY’s shares have risen 6.9% compared with the industry’s growth of 25%. The S&P 500 has gained 16.3% in the same time frame.
RHHBY to Compete With Established Players
As Roche enters the CGM market, it should face strong competition from established players like Abbott and Dexcom. Abbott’s FreeStyle Libre and Dexcom’s G6 and G7 are already widely used in Europe and the United States. ABT and DXCM’s CGM devices are known for their ease of use, factory-calibrated sensors and long wear times. In comparison, Roche’s Smartguide may appeal to users seeking more advanced predictive features.
Another potential drawback of Roche’s Smartguide is its requirement for initial calibration via a finger stick. In contrast, newer models from both Abbott and Dexcom offer factory-calibrated sensors, making them more user-friendly and reducing the burden on patients.
Looking ahead, Roche is in discussions with the FDA about a potential launch of the Smartguide in the United States, though no timeline has been provided. The company is also considering a pediatric version of the device. However, it has not shared any details yet.
As Roche prepares for the European launch, its success will depend on how well the Smartguide can compete with established CGMs while offering a unique approach to diabetes management.
Favorable Industry Prospects for RHHBY
Per a report by Grand View Research, the CGM device market size was valued at $4.6 billion in 2023 and is expected to witness a CAGR of 7.2% from 2024 to 2030.
Given the market potential, RHHBY’s entry in this segment is likely to provide a boost to its long-term prospects.
Roche Holding AG Price
Roche Holding AG price | Roche Holding AG Quote
RHHBY’s Zacks Rank & Another Stock to Consider
Roche currently carries a Zacks Rank #2 (Buy).
Intuitive Surgical ISRG is another top-ranked stock from the broader medical space, sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical has an estimated long-term growth rate of 17.4%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.97%.
ISRG’s shares have risen 46.4% compared with the industry’s 9.2% growth year to date.
Zacks Investment Research
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