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The Zacks Analyst Blog Highlights DaVita and Illumina
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For Immediate Release
Chicago, IL – August 29, 2024 – 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: DaVita Inc. (DVA - Free Report) and Illumina Inc. (ILMN - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
2 Must-Buy Medical Stocks with Strong Momentum
Wall Street has been maintaining its northbound journey in the second half of 2024 after an impressive first half. U.S. stock markets’ rally, which started at the beginning of 2023 is showing no signs of declining barring some minor fluctuations. The rally is likely to gather pace over the remaining months this year as an interest rate cut in September is now almost certain.
Under this circumstance, it should be prudent for investors to put money in those stocks with strong momentum. Here we are recommending two medical stocks — DaVita Inc. and Illumina Inc.
These stocks have seen strong earnings estimate revisions in the last 30 days. This indicates that market participants are expecting these companies to do good business in the near future. Finally, both stocks sport a Zacks Rank #1 (Strong Buy) with a Zacks Momentum Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
The combination of a top Zacks Rank, solid earnings estimate revisions and stock price momentum should drive prices further in the near term.
DaVita Inc.
DaVita has been expanding its global presence via its Integrated Kidney Care business. DVA has been generating solid revenues by providing dialysis services. DVA has been opening and acquiring several dialysis centers both within the United States and overseas, which is promising. DaVita’s four separate purchase agreements with Fresenius Medical Care also look promising. The company’s second-quarter 2024 results came in better than expected.
Strong Earnings Estimate Revisions for DVA
DaVita has an expected revenue and earnings growth rate of 5.4% and 18%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year, next quarter and next year in the last seven days. The stock price of DVA surged 11.3% in the past month.
Illumina Inc.
Illumina is successfully advancing its presence in the gene-sequencing market with competitive products and a strong pipeline. ILMN’s strategic initiatives and collaborations are boosting the NGS adoption, helping the company maintain leadership in research and clinical markets.
Illumina’s growing oncology portfolio is driving advancements in cancer genomics, suggesting a long-term growth potential in this space. Moreover, ILMN now offers the full range of NovaSeq X products and availed XLEAP-SBS chemistry to mid-throughput customers. Favorable solvency is also encouraging.
Strong Earnings Estimate Revisions for ILMN
Illumina has an expected revenue and earnings growth rate of 4.3% and more than 100%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year, next quarter and next year in the last 30 days. The stock price of ILMN advanced 7.7% in the past month.
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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.
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The Zacks Analyst Blog Highlights DaVita and Illumina
For Immediate Release
Chicago, IL – August 29, 2024 – 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: DaVita Inc. (DVA - Free Report) and Illumina Inc. (ILMN - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
2 Must-Buy Medical Stocks with Strong Momentum
Wall Street has been maintaining its northbound journey in the second half of 2024 after an impressive first half. U.S. stock markets’ rally, which started at the beginning of 2023 is showing no signs of declining barring some minor fluctuations. The rally is likely to gather pace over the remaining months this year as an interest rate cut in September is now almost certain.
Under this circumstance, it should be prudent for investors to put money in those stocks with strong momentum. Here we are recommending two medical stocks — DaVita Inc. and Illumina Inc.
These stocks have seen strong earnings estimate revisions in the last 30 days. This indicates that market participants are expecting these companies to do good business in the near future. Finally, both stocks sport a Zacks Rank #1 (Strong Buy) with a Zacks Momentum Score of A. You can see the complete list of today’s Zacks #1 Rank stocks here.
The combination of a top Zacks Rank, solid earnings estimate revisions and stock price momentum should drive prices further in the near term.
DaVita Inc.
DaVita has been expanding its global presence via its Integrated Kidney Care business. DVA has been generating solid revenues by providing dialysis services. DVA has been opening and acquiring several dialysis centers both within the United States and overseas, which is promising. DaVita’s four separate purchase agreements with Fresenius Medical Care also look promising. The company’s second-quarter 2024 results came in better than expected.
Strong Earnings Estimate Revisions for DVA
DaVita has an expected revenue and earnings growth rate of 5.4% and 18%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year, next quarter and next year in the last seven days. The stock price of DVA surged 11.3% in the past month.
Illumina Inc.
Illumina is successfully advancing its presence in the gene-sequencing market with competitive products and a strong pipeline. ILMN’s strategic initiatives and collaborations are boosting the NGS adoption, helping the company maintain leadership in research and clinical markets.
Illumina’s growing oncology portfolio is driving advancements in cancer genomics, suggesting a long-term growth potential in this space. Moreover, ILMN now offers the full range of NovaSeq X products and availed XLEAP-SBS chemistry to mid-throughput customers. Favorable solvency is also encouraging.
Strong Earnings Estimate Revisions for ILMN
Illumina has an expected revenue and earnings growth rate of 4.3% and more than 100%, respectively, for the current year. The stock has seen positive earnings estimate revisions for the current quarter, current year, next quarter and next year in the last 30 days. The stock price of ILMN advanced 7.7% in the past month.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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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.