Advertisement
Canada markets open in 4 hours 6 minutes

  • S&P/TSX

    21,873.72
    -138.00 (-0.63%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • CAD/USD

    0.7313
    +0.0015 (+0.20%)
     

  • CRUDE OIL

    82.85
    +0.04 (+0.05%)
     

  • Bitcoin CAD

    87,633.06
    -3,288.91 (-3.62%)
     

  • CMC Crypto 200

    1,363.11
    -19.46 (-1.41%)
     

  • GOLD FUTURES

    2,338.70
    +0.30 (+0.01%)
     

  • RUSSELL 2000

    1,995.43
    -7.22 (-0.36%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • NASDAQ futures

    17,499.00
    -165.50 (-0.94%)
     

  • VOLATILITY

    16.20
    +0.23 (+1.44%)
     

  • FTSE

    8,089.15
    +48.77 (+0.61%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6815
    -0.0004 (-0.06%)
     

Hologic Expands Panther Portfolio With New Product Offerings

Zacks Equity Research
·3 min read

Hologic, Inc. HOLX announced the expansion of the Panther Scalable Solutions (PSS) portfolio with product launches. The products are now commercially available in the United States and Europe. While Panther Plus and Panther Link are now available, the Panther Trax is expected to be available in the United States and Europe later in 2020.

Within the company’s PSS portfolio, the Panther system (launched in Europe in 2010) is the foundation for optional add-ons like Panther Fusion, Panther Plus, Panther Link and Panther Trax.

With the portfolio expansion, Hologic aims at strengthening foothold in the Molecular Diagnostics business on a global scale. Notably, the Molecular Diagnostics business is a segment of the company’s Diagnostics arm.


Significance of the Launch

The Panther system consists of a list of evaluations including tests for women’s health, sexually transmitted infections, respiratory health, and viral load and Open Access functionality for laboratory developed tests. Add-ons like the Panther Fusion (launched in 2016) will provide additional IVD menu and Open Access functionality.

The latest optional offerings will enable laboratories to improve operational capacity and testing volumes per their convenience, while subsequently building on the flexibility and streamlined user experience required by them.

Industry Prospects

Per a report by Mordor Intelligence, the global molecular diagnostics market was estimated to be valued at $7,854.45 million in 2018 and is projected to reach $13,340.35 million by 2024, witnessing a CAGR of 9.2% between 2019 and 2024. Factors like technological advancements and rising demands for point-of-care diagnostics are expected to drive the market.

Given the market potential, the portfolio expansion is well-timed.

Recent Developments in Molecular Diagnostics

Of late, Hologic has been registering rise in consumable sales, strongly backed by developments in the company’s Molecular Diagnostics arm. It has been working toward placing more Panthers platforms with increased evaluation options in additional countries.

Panther Fusion being one of the major contributors, international growth within molecular diagnostics has been quite remarkable, with respect to both speed and consistency. Hologic has been shipping more than 200 Panther systems annually over the last few years.

Domestic growth has been propelled by strong customer adoption, resulting in greater number of customers shifting to the company’s large installed base of Panther instruments.

Price Performance

Shares of Hologic have gained 21.4% in the past year compared with the industry’s 10.6% rally.

Zacks Rank & Other Key Picks

Currently, the company carries a Zacks Rank #2 (Buy).

Other top-ranked stocks from the broader medical space include LeMaitre Vascular, Inc. LMAT, Hill-Rom Holdings, Inc. HRC and ResMed Inc. RMD.

LeMaitre currently holds a Zacks Rank #2 and has a projected long-term earnings growth rate of 10%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Hill-Rom’s long-term earnings growth rate is estimated to be 11.1%. The company presently carries a Zacks Rank of 2.

ResMed’s long-term earnings growth rate is expected to be 12%. It currently has a Zacks Rank #1.

The Hottest Tech Mega-Trend of All

Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Hologic, Inc. (HOLX) : Free Stock Analysis Report
 
ResMed Inc. (RMD) : Free Stock Analysis Report
 
Hill-Rom Holdings, Inc. (HRC) : Free Stock Analysis Report
 
LeMaitre Vascular, Inc. (LMAT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.