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The Zacks Analyst Blog Highlights: Becton, Dickinson and Co, Abbott, Myomo and Apyx Medical
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For Immediate Release
Chicago, IL – February 17, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Becton, Dickinson and Company (BDX - Free Report) , Abbott Laboratories (ABT - Free Report) , Myomo, Inc. (MYO - Free Report) and Apyx Medical Corporation (APYX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Becton, Dickinson (BDX - Free Report) Gets EUA, CE Mark for New Covid Test
Becton, Dickinson and Co., also popularly known as BD, recently announced the receipt of Emergency Use Authorization (EUA) from the FDA for a new combination molecular diagnostic test to detect both SARS-CoV-2 and Influenza A+B in a single test that can generate results in two to three hours. The new test has also attained CE mark approval.
The BD SARS-CoV-2/Flu for BD MAX System kits can now be ordered in the United States and Europe. Notably, the test is the newest addition to the company's comprehensive COVID-19 diagnostics response.
This recent FDA authorization is likely to boost BD's Lifesciences segment.
More About BD's New Molecular Diagnostic Test
It is worth mentioning here that the BD MAX System is a molecular diagnostic platform already utilized by thousands of laboratories globally, wherein each unit has the capability of analyzing hundreds of samples daily.
Notably, the BD SARS-CoV-2/Flu assay, run on the BD MAX System, helps to differentiate between SARS-CoV-2 and Influenza A+B and delivers a positive or negative result for each virus using a single specimen.
Healthcare professionals will benefit from new diagnostic solutions for COVID-19 and Flu in the form of timely diagnosis. Further, these solutions might contribute to rapid and clinically-appropriate patient management and treatment. The latest test has the ability to address SARS-CoV-2 variants, including those from the U.K. and South Africa, thereby helping health care practitioners detect and contain these new strains.
Notable Developments
In January 2021, BD announced a new clinical study, which demonstrates the company's antigen test being more selective than polymerase chain reaction (PCR) molecular tests when it comes to detecting people who are contagious and can spread the COVID-19 virus. Additionally, the low cost and scalability of antigen-based testing is an important tool to curb COVID-19 community transmission.
In October 2020, BD along with CerTest Biotec announced that the VIASURE SARS-CoV-2 (N1 + N2) Real Time PCR Detection Kit adapted for the BD MAX System has attained CE mark approval. The new CerTest kit will offer rapid COVID-19 diagnostic capabilities that can be run individually or combined with detection of Flu A, Flu B and Respiratory Syncytial Virus A and B.
Industry Prospects
Per a report by MarketsandMarkets, the global molecular diagnostics market size is projected to reach $11.54 billion by 2023 from $7.71 billion in 2018, at a CAGR of 8.4%. Factors like technological advancements in molecular diagnostics and the rising prevalence of infectious diseases are likely to drive the market.
Price Performance
Over the past three months, shares of the company have gained 5.7% compared with the industry's growth of 11%.
Abbott has a projected long-term earnings growth rate of 14%.
Myomo has a projected long-term earnings growth rate of 22%.
Apyx Medical has an estimated long-term earnings growth rate of 27%.
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.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Becton, Dickinson and Co, Abbott, Myomo and Apyx Medical
For Immediate Release
Chicago, IL – February 17, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Becton, Dickinson and Company (BDX - Free Report) , Abbott Laboratories (ABT - Free Report) , Myomo, Inc. (MYO - Free Report) and Apyx Medical Corporation (APYX - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
Becton, Dickinson (BDX - Free Report) Gets EUA, CE Mark for New Covid Test
Becton, Dickinson and Co., also popularly known as BD, recently announced the receipt of Emergency Use Authorization (EUA) from the FDA for a new combination molecular diagnostic test to detect both SARS-CoV-2 and Influenza A+B in a single test that can generate results in two to three hours. The new test has also attained CE mark approval.
The BD SARS-CoV-2/Flu for BD MAX System kits can now be ordered in the United States and Europe. Notably, the test is the newest addition to the company's comprehensive COVID-19 diagnostics response.
This recent FDA authorization is likely to boost BD's Lifesciences segment.
More About BD's New Molecular Diagnostic Test
It is worth mentioning here that the BD MAX System is a molecular diagnostic platform already utilized by thousands of laboratories globally, wherein each unit has the capability of analyzing hundreds of samples daily.
Notably, the BD SARS-CoV-2/Flu assay, run on the BD MAX System, helps to differentiate between SARS-CoV-2 and Influenza A+B and delivers a positive or negative result for each virus using a single specimen.
Healthcare professionals will benefit from new diagnostic solutions for COVID-19 and Flu in the form of timely diagnosis. Further, these solutions might contribute to rapid and clinically-appropriate patient management and treatment. The latest test has the ability to address SARS-CoV-2 variants, including those from the U.K. and South Africa, thereby helping health care practitioners detect and contain these new strains.
Notable Developments
In January 2021, BD announced a new clinical study, which demonstrates the company's antigen test being more selective than polymerase chain reaction (PCR) molecular tests when it comes to detecting people who are contagious and can spread the COVID-19 virus. Additionally, the low cost and scalability of antigen-based testing is an important tool to curb COVID-19 community transmission.
In October 2020, BD along with CerTest Biotec announced that the VIASURE SARS-CoV-2 (N1 + N2) Real Time PCR Detection Kit adapted for the BD MAX System has attained CE mark approval. The new CerTest kit will offer rapid COVID-19 diagnostic capabilities that can be run individually or combined with detection of Flu A, Flu B and Respiratory Syncytial Virus A and B.
Industry Prospects
Per a report by MarketsandMarkets, the global molecular diagnostics market size is projected to reach $11.54 billion by 2023 from $7.71 billion in 2018, at a CAGR of 8.4%. Factors like technological advancements in molecular diagnostics and the rising prevalence of infectious diseases are likely to drive the market.
Price Performance
Over the past three months, shares of the company have gained 5.7% compared with the industry's growth of 11%.
Zacks Rank and Key Picks
Currently, BD carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Abbott, Myomo and Apyx Medical, each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Abbott has a projected long-term earnings growth rate of 14%.
Myomo has a projected long-term earnings growth rate of 22%.
Apyx Medical has an estimated long-term earnings growth rate of 27%.
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 >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.