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Philips' (PHG) Lung Suite 3D Imaging Solution Gains Traction
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Koninklijke Philips’ (PHG - Free Report) innovative lung cancer diagnosis and treatment solution, Philips Lung Suite, has been gaining international traction, as evident from its rapid rollout with new clinical partners.
Some of the new partners utilizing the Philips Lung Suit are Royal Brompton hospital of the U.K., Hospital Erasme and Genk Medical Center of Belgium, Carmel Medical Center of Israel and Rouen University Hospital of France.
Lung cancer claims 1.8 million lives per year primarily because 60% of the patients are diagnosed at a later stage, reducing the probability of survival.
Philips Lung Suit addresses this issue with 3D real-time imaging and augmented fluoroscopy. This helps in increasing the accuracy of biopsy procedures and paves the path for treatment at early stages.
Philips Rides on Solid Demand For Widening Portfolio
Philips witnessed solid demand for patient monitors, hospital ventilators, computed tomography and portable ultrasound systems amid the coronavirus outbreak. The company has been benefiting from strong demand for Image-Guided Therapy, Diagnostic Imaging, Ultrasound and Hospital Patient Monitoring system.
However, rising supply chain issues due to the pandemic had negatively impacted the company’s top line in the fourth quarter of 2021. The supply chain management issues are still prevalent globally and pose a significant threat to the company’s near-term profitability.
As a result of the pandemic, growth prospects are sluggish in the healthcare market worldwide. Rising raw material prices are hurting Philips’ ability to sustain competitiveness in the markets it operates.
Further, Philips Respironics voluntarily recalled ventilators, bi-level positive airway pressure and positive airway pressure machines due to potential health hazards. This is expected to have hurt sales negatively by 10% in the fourth quarter of 2021.
Total sales decreased 6% on a year-over-year basis to €4.94 billion in the fourth quarter of 2021.
The company’s earnings had declined by 31.3% to 57 cents in the fourth quarter. The slowdown in the economy has affected the medical sector.
Philips currently has a Zacks Rank # 5 (Strong Sell). The company's shares have fallen 17.3% in the year-to-date period compared with the Zacks Medical-Products industry and the Medical sector’s decline of 8.1% and 6.2%, respectively.
Stocks to Consider
While Philips is reeling from the effects of an economic slowdown and global supply chain issues, here are some better-ranked stocks worth considering in the broader Medical sector.
Image: Bigstock
Philips' (PHG) Lung Suite 3D Imaging Solution Gains Traction
Koninklijke Philips’ (PHG - Free Report) innovative lung cancer diagnosis and treatment solution, Philips Lung Suite, has been gaining international traction, as evident from its rapid rollout with new clinical partners.
Some of the new partners utilizing the Philips Lung Suit are Royal Brompton hospital of the U.K., Hospital Erasme and Genk Medical Center of Belgium, Carmel Medical Center of Israel and Rouen University Hospital of France.
Lung cancer claims 1.8 million lives per year primarily because 60% of the patients are diagnosed at a later stage, reducing the probability of survival.
Philips Lung Suit addresses this issue with 3D real-time imaging and augmented fluoroscopy. This helps in increasing the accuracy of biopsy procedures and paves the path for treatment at early stages.
Koninklijke Philips N.V. Price and Consensus
Koninklijke Philips N.V. price-consensus-chart | Koninklijke Philips N.V. Quote
Philips Rides on Solid Demand For Widening Portfolio
Philips witnessed solid demand for patient monitors, hospital ventilators, computed tomography and portable ultrasound systems amid the coronavirus outbreak. The company has been benefiting from strong demand for Image-Guided Therapy, Diagnostic Imaging, Ultrasound and Hospital Patient Monitoring system.
However, rising supply chain issues due to the pandemic had negatively impacted the company’s top line in the fourth quarter of 2021. The supply chain management issues are still prevalent globally and pose a significant threat to the company’s near-term profitability.
As a result of the pandemic, growth prospects are sluggish in the healthcare market worldwide. Rising raw material prices are hurting Philips’ ability to sustain competitiveness in the markets it operates.
Further, Philips Respironics voluntarily recalled ventilators, bi-level positive airway pressure and positive airway pressure machines due to potential health hazards. This is expected to have hurt sales negatively by 10% in the fourth quarter of 2021.
Total sales decreased 6% on a year-over-year basis to €4.94 billion in the fourth quarter of 2021.
The company’s earnings had declined by 31.3% to 57 cents in the fourth quarter. The slowdown in the economy has affected the medical sector.
Philips currently has a Zacks Rank # 5 (Strong Sell). The company's shares have fallen 17.3% in the year-to-date period compared with the Zacks Medical-Products industry and the Medical sector’s decline of 8.1% and 6.2%, respectively.
Stocks to Consider
While Philips is reeling from the effects of an economic slowdown and global supply chain issues, here are some better-ranked stocks worth considering in the broader Medical sector.
AMN Healthcare Services (AMN - Free Report) sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN shares have fallen 13.8% in the year-to-date period, compared with the Zacks Medical Services industry’s decline of 19.9%.
Avanos Medical (AVNS - Free Report) flaunts a Zacks Rank #2 (Buy).
Avanos shares have fallen 2.8% in the year-to-date period, compared with the Zacks Medical-Instruments industry’s decline of 14.3%.
Acumen Pharmaceuticals (ABOS - Free Report) carries a Zacks Rank #2.
Acumen shares have plunged 31.1% in the year-to-date period compared with the Zacks Medical - Biomedical and Genetics industry’s decline of 13.8%.