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Venus Concept VERO, a leader in medical aesthetic technology, is set to strengthen its international presence following the regulatory clearance from Australia’s Therapeutic Goods Administration (TGA) to market its Venus Bliss MAX system.
This flagship device, which integrates three innovative technologies, positions the company to capture a broader share of the aesthetic market across multiple regions.
Likely Trend of VERO Stock Following the News
Following the announcement, shares of the company moved more than 2.3% north at yesterday’s close.
As consumer interest is rapidly developing around medical aesthetic products, the company is gaining market share for its product portfolio, which consists of an advanced line of aesthetic device platforms, including Venus Versa, Venus Versa Pro, Venus Legacy, Venus Velocity, Venus Viva, Venus Glow, Venus Bliss, Venus Bliss MAX, Venus Epileve, Venus Viva MD and AI.ME. We anticipate the latest regulatory development, a breakthrough for the company in the Australian market, to inspire investors’ optimism for the stock.
Meanwhile, VERO currently has a market capitalization of $3.65 million. The company is expected to report an earnings growth of 6.9% in 2024 and a staggering 54.2% in 2025.
More on VERO's Venus Bliss MAX
Venus Bliss MAX combines advanced technologies — Multi-Polar Radio Frequency, Pulsed Electro Magnetic Fields, and VariPulse technology for cellulite reduction and skin treatments, FlexMax EMS applicators for muscle conditioning and a diode laser for fat reduction. This versatility enables Venus Concept to cater to the growing demand for non-invasive and minimally invasive body treatments. The device’s ability to deliver multiple treatments in one platform makes it a valuable offering for aesthetic professionals, enhancing their ability to meet diverse customer needs.
Impact on Venus Concept's International Expansion
Venus Concept’s approval in Australia opens doors for further international expansion, reinforcing its position as a global player in the aesthetic technology space. With a presence in more than 60 countries, this latest regulatory clearance is a strategic move that could significantly increase market penetration in the Asia-Pacific region. Australia, known for its robust healthcare regulations, sets a standard that could influence other markets, accelerating Venus Concept's entry into additional countries.
By securing approval in Australia, Venus Concept is not only tapping into a new market but also setting the stage for broader global growth.
Market Prospects in Favor of VERO
According to a Grand View Research report, the global aesthetic medicine market, valued at $112 billion in 2022, is projected to witness a 14.7% CAGR from 2023 to 2030. Advanced aesthetic devices, like non-invasive body contouring systems, are driving demand. Despite initial pandemic setbacks, remote work has intensified focus on appearance, boosting interest in cosmetic procedures, particularly non-invasive treatments. The surge in awareness, especially in developing countries like India and South Korea, positions the market for sustained high demand, with India ranking among the top five countries globally for non-surgical procedures in 2021, according to the International Society of Aesthetic Plastic Surgery.
Share Price Performance of VERO
Shares of VERO have plunged 42.5% over the past year against a 4.3% rise of the industry.
Venus Concept’s Zacks Rank and Key Picks
Venus Concept carries a Zacks Rank #4 (Sell).
A few better-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 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share 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
Abbott ABT is facing a challenging business environment globally. Unfavorable foreign exchange impact continues to impede growth. The stock carries a Zacks Rank #4 (Sell) currently.
Factors Weighing on Abbott
A challenging macroeconomic scenario in the form of the ongoing complex geo-political situation globally, specifically where Abbott operates, is driving higher-than-anticipated increases in expenses in terms of raw materials and freight. This could also result in broader economic impacts and security concerns, affecting the company’s business in the upcoming months. Industrywide, it has been seen that the deteriorating global economic environment is reducing demand for several MedTech products, resulting in lower sales and lower product prices while increasing the cost of goods and operating expenses of the businesses of the MedTech companies.
In the second quarter, Abbott incurred a 2.7% increase in the cost of products sold (excluding amortization expense). Selling, general and administration expenses were up 7.2% year over year, resulting in a mere 18-bps improvement in operating margin to 20.6%.
Further, following the official ending of the public health emergency in May 2023, Abbott is experiencing a continuous decline in COVID testing-related demand. In Rapid Diagnostics, sales decreased 19.8% organically in the second quarter of 2024 due to lower demand for COVID-19 tests. Within Molecular Diagnostics, too, organic sales declined 9.4% year over year.
In the upcoming months too, this year-over-year decline in testing demand is expected to mar Abbott’s overall Diagnostics business sales growth.
Abbott Laboratories Price
Abbott Laboratories price | Abbott Laboratories Quote
Further, foreign exchange is a major headwind for Abbott due to a considerable percentage of its revenues coming from outside the United States. The strengthening of the euro and some other developed market currencies has constantly been hampering the company’s performance in the international markets. In the second quarter of 2024, foreign exchange had an unfavorable year-over-year impact of 3.5% on sales.
Favorable Factors for ABT
Abbott continues to expand its Diagnostics business foothold (consisting of 21.2% of the total revenues in the second quarter of 2024). Over the past few quarters, the company has witnessed increased demand for routine diagnostics (excluding COVID-19 testing sales), particularly in the United States and internationally.
Within Abbott’s Established Pharmaceuticals Division (EPD) business, its unique branded generics model has been built to focus specifically on key emerging countries where long-term growth in medicines is guaranteed by favorable demographic trends, including increasing populations, growing middle classes, aging populations with the related rise in chronic diseases and an increasing focus on expanding access to healthcare. The year 2023 marked the third consecutive year of double-digit organic sales growth within EPD. Abbott’s EPD sales in the second quarter of 2024 increased 8.1% organically.
Further, Abbott’s Diabetes Care business continues to benefit from the growing sales of its flagship, sensor-based continuous glucose monitoring system, FreeStyle Libre. In a relatively short span, FreeStyle Libre has achieved global leadership among continuous glucose monitoring (CGM) systems for both Type 1 and Type 2 users.
The stock has gained 14.6% in a year but underperformed the industry’s 20.4% rise. Despite several downsides that are impeding the stock’s growth, as the company strategically expands through innovation and deals, we expect further acceleration in the stock price in the coming days.
Key Picks
A few better-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 (Buy) 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
QIAGEN N.V. QGEN recently announced the launch of 100 new assays for its digital polymerase chain reaction (dPCR) platform — QIAcuity. The assays will be used to study cancer, inherited genetic disorders, infectious disease surveillance, and food and environmental monitoring. These are available through QIAGEN’s comprehensive GeneGlobe platform.
The latest launch will be an addition to the company’s PCR product portfolio.
QGEN’s Likely Stock Trend Following the News
Shares of QGEN were up 0.04% in pre-market trading today following the news. With the company gaining a high level of synergies from its continuous test menu expansion, we expect market sentiment to remain positive around this development.
Meanwhile, QGEN currently has a market capitalization of $10.15 billion. In the last reported quarter, QGEN delivered an earnings surprise of 5.77%. It has a trailing four-quarter average earnings surprise of 2.64%.
More on QIAGEN’s Newly Launched Assays
These assays include dPCR LNA (locked nucleic acid) Mutation, dPCR CNV (copy number variation) Probe Assays and dPCR Microbial DNA Detection Assays. dPCR LNA and dPCR CNV are designed to investigate cancer-relevant mutations and CNVs. dPCR Microbial DNA Detection Assays are designed to target critical pathogens responsible for various infectious and tropical diseases, sexually transmitted and urinary tract infections, as well as genes associated with antibiotic resistance.
The portfolio is also being expanded to detect animal diseases and plant pathogens affecting crops.
QIAGEN’s Business Advancements
QIAGEN has launched more than 130 new assays year to date, exceeding its 2024 target and adding to the existing total of more than 2,300 validated assays.
The company’s QIAcuity platform is acting as a valuable tool for a broad range of applications requiring accurate and sensitive detection of genetic targets. QIAGEN expects to expand QIAcuity into clinical and biopharma applications as well as new areas of life sciences research.
QGEN is planning to expand its dPCR portfolio into clinical testing with an in-vitro diagnostic version of QIAcuity launch in the second half of 2024. The company is also partnering with pharma companies to develop companion diagnostics on QIAcuity, leveraging the platform’s sensitivity and accuracy for disease monitoring.
Other Recent Developments by QIAGEN
Earlier this month, the company entered into a collaboration with Eli Lilly and Company to support the development of a QIAstat-Dx in-vitro diagnostic panel. The QIAstat-Dx panel will be used to detect apolipoprotein E (APOE) genotypes.
Last month, QIGEN expanded its Master Collaboration Agreement with AstraZeneca to develop and commercialize companion diagnostics for the latter’s future therapies targeting chronic diseases. QIAGEN will develop and validate a genotyping assay using its QIAstat-Dx syndromic testing platform.
Industry Prospects Favor QIAGEN
Per a Precedence Research report, the global digital PCR market was valued at $7.12 billion in 2024 and is expected to reach $17.33 billion by 2034 at a CAGR of 9.3% during the period.
A key factor driving market growth is the increasing demand for accurate and reliable nucleic acid testing in areas such as clinical diagnostics, research and development, and biopharmaceuticals. Additionally, the emergence of new technologies and advancements in the field of genomics are expected to fuel market growth.
QGEN’s Price Performance
In the past year, shares of QGEN have risen 10.4% compared with the industry’s 0.3% growth.
QGEN’s Zacks Rank and Key Picks
QGEN currently carries a Zacks Rank #3 (Hold).
Some better-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 (Buy) 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 171.3% in the past year compared with the industry’s 18.8% 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 180% in the past year compared with the industry’s 18.8% 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 9.2% against the industry’s 18.8% 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
Thermo Fisher Scientific's TMO PPD clinical research business has expanded its global laboratory services by opening a new bioanalytical lab in GoCo Health Innovation City in Gothenburg, Sweden. The 29,000-square-foot facility will serve pharmaceutical and biotech customers with advanced laboratory services and cutting-edge instrumentation across all phases of pharmaceutical development to help deliver life-changing medicines to patients worldwide.
The latest development furthers the company’s strategy to promote a healthier and safer world, aiming to deliver accurate and timely data to customers for more informed decisions.
TMO Stock’s Potential Trends Following the News
After the announcement, shares of TMO shares were down by 0.1% in yesterday’s trading, closing at $610.12. PPD has consistently delivered strong performance within the company’s Laboratory Services and Biopharma segment. The latest expansion will significantly enhance its bioanalytical capabilities to include comprehensive and full-service solutions across both small and large molecules, biomarkers and novel modalities. We anticipate this development to positively boost the market sentiment toward the stock.
Presently, Thermo Fisher boasts a market capitalization of $233.2 billion. The company has an earnings yield of 3.6% against the industry’s -5.3%. In the trailing four quarters, it delivered an average earnings surprise of nearly 4%.
More on Thermo Fisher’s New Laboratory
The new laboratory will include a wide range of advanced technologies and methodologies, such as cell-based assays, chromatography, flow cytometry, immunochemistry and molecular genomics. It is located adjacent to AstraZeneca’s strategic research and development site in Gothenburg, which has been a key player in the development of GoCo Health Innovation City. Joint real estate company Steptura has designed Sweden's life science and global research cluster to attract global researchers and entrepreneurs and accelerate health innovation.
The expansion will add up to 140 highly skilled scientists and laboratory support professionals, from entry-level bench positions to general managers. Expected to be completed in the fourth quarter of 2025, the new lab will enable a wide range of GLP-compliant bioanalytical capabilities. This advanced technology will facilitate the delivery of rapid and reliable bioanalytical assay services across all stages of drug development, from preclinical studies to post-approval studies.
Industry Prospects Favoring TMO
Per a Research report, the global bioanalytical testing market was valued at $4.33 billion in 2023 and is expected to grow at a compound annual rate of 9% through 2030.
The development of advanced therapeutic modalities, such as gene therapies and biologics, has increased the demand for specialized bioanalytical testing services. Major pharmaceutical companies are outsourcing R&D activities to focus on their core competencies, driving growth in this market.
Developments in Thermo Fisher’s PPD Business
In June 2024, the PPD business expanded its sample management and biorepository operations with a new 65,000-square-foot facility in Covington, Northern Kentucky. The expansion strengthens the capabilities of its existing site in nearby Highland Heights. Thermo Fisher’s $47.8 million investment is set to create more than 250 new jobs across the two sites in the next eight years, with renovation and construction slated to begin later this year.
TMO Stock Price Performance
In the past year,TMO shares have rallied 19.9% compared with the industry’s rise of 17.4%.
TMO’s Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
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 55.7% 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 175.2% in the past year compared with the industry’s growth of 17.6%. 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 77% 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
National Vision Holdings, Inc.’s EYE growth is backed by the consistent market expansion of the Owned and Host segment. The company’s strategic progress in terms of expanding exam capacity, recruitment and retention efforts and remote exam initiatives is highly encouraging. However, weak solvency and an ailing capital structure are concerning. Mounting expenses due to slow economic conditions also add to the worry.
In the past year, this Zacks Rank #3 (Hold) company’s shares have lost 33.4% against the industry’s 20.4% growth and the S&P 500 composite’s 27.5% increase.
The leading optical retailer has a market capitalization of $865 million. The company projects long-term estimated earnings growth of 19.4% compared with the industry’s 15.9%. National Vision beat on earnings in each of the trailing four quarters, delivering an average surprise of 96.23%.
Let’s delve deeper.
Key Upsides of EYE
Owned & Host Gaining Market Share: All four sub-segments within Owned and Host are consistently gaining market share, banking on several growth drivers. In line with this, America's Best brand is particularly driving revenues on the back of the ongoing strength in managed care and a notable improvement in comparable store sales from cash-pay customers.
In the second quarter of 2024, National Vision officially enabled nearly 600 stores across 28 states and reached a milestone when 500,000 remote exams were conducted and remote doctor productivity levels continued to improve. Additionally, the company opened 17 new stores and ended the second quarter with 1,216 stores.
Future Strategies Look Promising: National Vision plans to continue executing core growth initiatives and investing in strengthening competitive advantages.
In terms of store expansion, the company continues to see a sizable new opportunity for growth in the years ahead. National Vision aims to open another 65 to 70 stores in 2024. The company is raising its whitespace opportunity for its America’s Best brand by 350 stores. EYE continues with its efforts to help rightsize both its store and overall cost structure, including further digitization of stores and corporate offices, to improve efficiency and productivity.
In the second quarter of 2024, the company generated a cumulative operating cash flow of $75.4 million and invested $39.6 million in capital expenditures, primarily focused on new store openings and investments in technology.
Key Downsides of EYE
Solvency and Capital Structure: National Vision exited the second quarter with cash and cash equivalents of $180 million. This was quite low compared to the company’s total debt of $457 million at the end of the second quarter. In fact, the currently payable debt of $313 million too was higher than the current cash balance. This is not a good news in terms of EYE’s solvency position, particularly amid macroeconomic headwinds like global supply issues.
Mounting Expenses: Over the past few years, global markets and economic conditions have been challenging, particularly in light of rising interest rates, historic inflation throughout 2023 and global conflict that have created continued economic uncertainty. The company expects this trend to continue through 2024 and beyond.
In the second quarter of 2024, SG&A expenditures were 45.2% of the total revenues and rose 3.8% year over year.
Estimate Trend
The Zacks Consensus Estimate for 2024 earnings per share (EPS) has remained constant at 50 cents in the past 30 days.
The Zacks Consensus Estimate for 2024 revenues is pegged at $1.82 billion, implying a 14.3% decline from the year-ago reported number.
Key Picks
Some better-ranked stocks in the broader medical space are TransMedix Group TMDX, AxoGen AXGN 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 171.3% in the past year compared with the industry’s 18.8% 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.
AxoGen, sporting a Zacks Rank #2 (Buy) at present, has an earnings yield of 94.1% compared with the industry’s 12.3%. Shares of the company have risen 180% compared with the industry’s 18.8% growth over the past year. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.46%.
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 52.6% compared with the industry’s 19% growth. BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%.
Zacks Investment Research
Teleflex's TFX robust performance in the Interventional product line is poised to help it grow in the upcoming quarters. The Urolift system is seeing consistent growth in hospitals, with positive trial results further enhancing its market position for benign prostatic hyperplasia (BPH) treatment. The densely populated markets in Asia also present a promising opportunity for growth. However, the impact of macroeconomic challenges and currency fluctuations remains concerning for the company.
In the past year, this Zacks Rank #2 (Buy) stock has risen 15.7% compared to 18.7% and 27.5% growth of the industry and the S&P 500 composite, respectively.
The global provider of med-tech products has a market capitalization of $11.38 billion. The company has an earnings yield of 5.79% compared to the industry’s -5.27%. Teleflex surpassed estimates in each of the trailing four quarters, delivering an average earnings surprise of 5.56%.
Let’s delve deeper.
Tailwinds for TFX
Strong Momentum in Interventional Unit: Teleflex’s wide range of Interventional products has generated robust revenues in the second quarter of 2024, including contributions from growth drivers such as MANTA, complex catheters, right heart catheters and intra-aortic balloon pumps. Earlier in April 2024, the company introduced the Wattson Temporary Pacing Guidewire through a limited market release, aiming to address the gaps in existing technologies and simplify minimalist transcatheter aortic valve replacement and other structural procedures.
Moreover, Teleflex’s Ringer Perfusion Balloon Catheter, which incorporates a unique balloon design that allows blood to flow through a vessel while the balloon is inflated, secured the FDA’s 510(k) clearance in July. The company will initially launch this with a PTCA indication and will explore label expansion after the completion of the vessel perforation trial.
Strong Outlook for Urolift: The company’s high-growth portfolio in its Interventional Urology unit is designed to treat lower urinary tract symptoms caused by BPH. Teleflex has broadened its reach by commercializing in Japan and China and launching the UroLift 2 System and the UroLift ATC Advanced Tissue Control System in the United States. In the hospital setting, Urolift has delivered consistent growth.
Recent findings from two new head-to-head randomized controlled trials established the superiority of the system compared to the Rezum procedure and revealed its advantages over traditional medical therapies for early BPH intervention.
Business in Asia Holds Long-Term Potential: Observing strong demand for the company’s wide product line in emerging economies, Teleflex is currently focusing on expansion in densely populated geographies like Asia. The company has a solid market base for its Interventional Access and Anesthesia products in this region. Despite a softer performance in South Korea, revenues still increased 4% compared to the last year. While the challenges from the ongoing doctors’ strike are likely to persist throughout the year, the impact is expected to lessen. Asia is projected to be a significant driver of Teleflex’s growth, with an expected increase of 10% in 2024.
Factors Weighing on TFX
Macroeconomic Challenges: The company has been facing substantial cost pressures due to global macroeconomic factors, particularly in materials and services. TFX has been closely monitoring the impacts of rising interest rates and the ongoing geopolitical conflicts on its operations. If these tensions further escalate, this could potentially have a broader impact on other markets where Teleflex operates, affecting its supply chain, business partners or customers in those regions.
Adverse Foreign Exchange Translation Impacts: Foreign exchange is a major headwind for Teleflex due to a considerable percentage of its revenues coming from outside of the United States. The strengthening of the Euro and some other developed market currencies has been constantly hampering the company’s performance in the international markets.
TFX Stock Estimate Trend
The Zacks Consensus Estimate for TFX’s 2024 earnings per share (EPS) has moved up 0.1% to $13.97 in the past 30 days.
The Zacks Consensus Estimate for the company’s 2024 revenues is pegged at $3.10 billion, suggesting a 4.1% rise from the year-ago reported number.
Other Top MedTech Picks
Some other top-ranked stocks in the broader medical space are TransMedix Group TMDX, AxoGen AXGN and Boston Scientific BSX. While TransMedix Group currently sports a Zacks Rank #1 (Strong Buy), AxoGen and Boston Scientific each have a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
TransMedix Group’s earnings are expected to surge 259.7% in 2024. Its shares have gained 171.3% compared with the industry’s 18.7% growth in the past year. TMDX’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 287.5%.
AxoGen has an estimated 2024 earnings growth rate of 94.1% compared with the industry’s 12.8%. Shares of the company have gained 180% compared with the industry’s 18.8% growth in the past year. AXGN’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 96.5%.
Boston Scientific has an estimated earnings growth rate of 17.1% compared with the industry’s 14.9%. Shares of the company have gained 52.6% compared with the industry’s 19% growth in the past year. BSX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 7.2%.
Zacks Investment Research
Shares of Exicure, Inc rose sharply in today's pre-market trading after the company announced it received an extension from the Nasdaq Hearings Panel.
After the market close, Exicure announced that it was granted an extension for continued listing on the Nasdaq exchange. The early-stage biotechnology company must now show compliance with all applicable criteria for continued listing on the Nasdaq by Nov. 14.
Exicure shares jumped 179.9% to $6.41 in the pre-market trading.
Here are some other stocks moving in pre-market trading.
Gainers
Losers
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