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Oracle (ORCL) Collaborates With White House CancerX Project
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Oracle (ORCL - Free Report) recently announced that it has been acknowledged as a founding member of CancerX. This public-private partnership is set to advance innovations aimed at reducing cancer-related fatalities. Leveraging its extensive experience in open cloud platforms, artificial intelligence, machine learning, clinical and healthcare research, along with its scientific insights from acquiring Cerner, Oracle will contribute its expertise to the initiative.
CancerX is the inaugural project in the White House's National Cancer Moonshot program. The initiative is co-hosted by Moffitt Cancer Center and the Digital Medicine Society, in conjunction with the office for the National Coordinator for Health Information Technology and the office of the Assistant Secretary for Health.
Oracle and the team of diverse innovators will collaborate to precisely determine the significance of digital advancements in cancer therapy. The partnership will tackle gaps in methodology and execution, establishing guidelines for the fair integration of digital healthcare technologies on a large scale in cancer treatment.
The objective is aligned with the White House's Cancer Moonshot ambition to decrease cancer-related mortality by a minimum of 50% in the upcoming 25 years. Additionally, the collaboration seeks to improve the experience of individuals and their families living with and surviving cancer. This is expected to boost revenues from Services and America in the upcoming quarter.
The Zacks Consensus Estimate for ORCL’s first-quarter fiscal 2024 Services revenues is pegged at $1.43 billion, indicating year-over-year growth of 5.78%, contributing 11.48% of the total revenues. The Zacks Consensus Estimate for revenues from America is pegged at $7.78 billion, indicating year-over-year growth of 8.24%.
Oracle Health’s Expanding Customer Base to Aid Top-Line Growth
Oracle’s Health Division has a huge customer base because of Universal Health Services (“UHS"), Ontario Hospitals and Mubadala Health. These customers are expected to boost the company’s top-line growth in upcoming quarters.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 revenues is pegged at $53.85 billion, indicating year-over-year growth of 7.8%. The consensus mark for ORCL’s earnings is pegged at a profit of $5.51 per share, indicating a year-over-year rise of 7.62%
Oracle Health has integrated into UHS' extensive network of behavioral health centers. With a decade-long use of Oracle Health's technology in acute care hospitals, this expansion guarantees a cohesive electronic health records (EHR) system spanning acute and behavioral health facilities across the country. This move aims to improve care choices and enhance patient safety within UHS, which operates more than 200 behavioral health facilities.
A consortium of 21 hospitals and facilities in Ontario is currently experiencing enhanced patient care through the utilization of Oracle Health’s Ontario eHub Health Information Exchange. This initiative enables the seamless and secure sharing of patient information among these healthcare establishments, resulting in reduced administrative burdens and better care coordination for patients.
Mubadala Health, a comprehensive healthcare network comprising top-tier medical facilities, has unveiled a strategic partnership with ORCL to expedite advancements and streamline operations. Under the terms of this fresh arrangement, Mubadala Health will harness the Oracle Cloud Infrastructure in the Oracle Cloud Dubai Region to operate its Oracle Cerner EHR system, fostering innovation and efficiency throughout its facilities.
Zacks Rank & Other Key Picks
Currently, Oracle carries a Zacks Rank #2 (Buy).
Shares of Oracle have gained 42.6% year to date compared with the Zacks Computer and Technology sector’s rise of 34.6% in the same period due to the consistent efforts so far in 2023.
Shares of ACM Research have gained 89.8% year to date. The Zacks Consensus Estimate for ACMR’s 2023 revenues is pegged at $558.83 million, indicating year-over-year growth of 43.72%. The consensus mark for earnings is pegged at 35 cents per share, which has increased by 5 cents over the past 30 days.
Shares of NVIDIA have surged 212.5% year to date. The Zacks Consensus Estimate for NVDA’s 2023 revenues is pegged at $43.39 billion, indicating a year-over-year increase of 60.84%. The consensus mark for earnings is pegged at $2.06 per share, which has remained unchanged over the past 30 days.
Shares of Uber Technologies have soared 79.3% year to date. The Zacks Consensus Estimate for UBER’s 2023 revenues is pegged at $37.42 billion, indicating a year-over-year rise of 17.39%. The consensus mark for earnings is pegged at 13 cents per share, which has increased by 9 cents over the past 30 days.
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Oracle (ORCL) Collaborates With White House CancerX Project
Oracle (ORCL - Free Report) recently announced that it has been acknowledged as a founding member of CancerX. This public-private partnership is set to advance innovations aimed at reducing cancer-related fatalities. Leveraging its extensive experience in open cloud platforms, artificial intelligence, machine learning, clinical and healthcare research, along with its scientific insights from acquiring Cerner, Oracle will contribute its expertise to the initiative.
CancerX is the inaugural project in the White House's National Cancer Moonshot program. The initiative is co-hosted by Moffitt Cancer Center and the Digital Medicine Society, in conjunction with the office for the National Coordinator for Health Information Technology and the office of the Assistant Secretary for Health.
Oracle and the team of diverse innovators will collaborate to precisely determine the significance of digital advancements in cancer therapy. The partnership will tackle gaps in methodology and execution, establishing guidelines for the fair integration of digital healthcare technologies on a large scale in cancer treatment.
The objective is aligned with the White House's Cancer Moonshot ambition to decrease cancer-related mortality by a minimum of 50% in the upcoming 25 years. Additionally, the collaboration seeks to improve the experience of individuals and their families living with and surviving cancer. This is expected to boost revenues from Services and America in the upcoming quarter.
The Zacks Consensus Estimate for ORCL’s first-quarter fiscal 2024 Services revenues is pegged at $1.43 billion, indicating year-over-year growth of 5.78%, contributing 11.48% of the total revenues. The Zacks Consensus Estimate for revenues from America is pegged at $7.78 billion, indicating year-over-year growth of 8.24%.
Oracle Corporation Price and Consensus
Oracle Corporation price-consensus-chart | Oracle Corporation Quote
Oracle Health’s Expanding Customer Base to Aid Top-Line Growth
Oracle’s Health Division has a huge customer base because of Universal Health Services (“UHS"), Ontario Hospitals and Mubadala Health. These customers are expected to boost the company’s top-line growth in upcoming quarters.
The Zacks Consensus Estimate for ORCL’s fiscal 2024 revenues is pegged at $53.85 billion, indicating year-over-year growth of 7.8%. The consensus mark for ORCL’s earnings is pegged at a profit of $5.51 per share, indicating a year-over-year rise of 7.62%
Oracle Health has integrated into UHS' extensive network of behavioral health centers. With a decade-long use of Oracle Health's technology in acute care hospitals, this expansion guarantees a cohesive electronic health records (EHR) system spanning acute and behavioral health facilities across the country. This move aims to improve care choices and enhance patient safety within UHS, which operates more than 200 behavioral health facilities.
A consortium of 21 hospitals and facilities in Ontario is currently experiencing enhanced patient care through the utilization of Oracle Health’s Ontario eHub Health Information Exchange. This initiative enables the seamless and secure sharing of patient information among these healthcare establishments, resulting in reduced administrative burdens and better care coordination for patients.
Mubadala Health, a comprehensive healthcare network comprising top-tier medical facilities, has unveiled a strategic partnership with ORCL to expedite advancements and streamline operations. Under the terms of this fresh arrangement, Mubadala Health will harness the Oracle Cloud Infrastructure in the Oracle Cloud Dubai Region to operate its Oracle Cerner EHR system, fostering innovation and efficiency throughout its facilities.
Zacks Rank & Other Key Picks
Currently, Oracle carries a Zacks Rank #2 (Buy).
Shares of Oracle have gained 42.6% year to date compared with the Zacks Computer and Technology sector’s rise of 34.6% in the same period due to the consistent efforts so far in 2023.
ACM Research (ACMR - Free Report) , NVIDIA (NVDA - Free Report) and Uber Technologies (UBER - Free Report) are some other top-ranked stocks from the broader sector that investors can consider. Currently, ACMR, NVDA and UBER sport a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of ACM Research have gained 89.8% year to date. The Zacks Consensus Estimate for ACMR’s 2023 revenues is pegged at $558.83 million, indicating year-over-year growth of 43.72%. The consensus mark for earnings is pegged at 35 cents per share, which has increased by 5 cents over the past 30 days.
Shares of NVIDIA have surged 212.5% year to date. The Zacks Consensus Estimate for NVDA’s 2023 revenues is pegged at $43.39 billion, indicating a year-over-year increase of 60.84%. The consensus mark for earnings is pegged at $2.06 per share, which has remained unchanged over the past 30 days.
Shares of Uber Technologies have soared 79.3% year to date. The Zacks Consensus Estimate for UBER’s 2023 revenues is pegged at $37.42 billion, indicating a year-over-year rise of 17.39%. The consensus mark for earnings is pegged at 13 cents per share, which has increased by 9 cents over the past 30 days.