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Waltham, MA based Alere Inc. , a leading player in rapid diagnostic tests, announced that its forensic toxicology division has received accreditation from the American Board of Forensic Toxicology (ABFT).
In the last six months, the stock registered a negative return of almost 1.87%, narrower than the Zacks categorized Medical Products sub-industry’s loss of roughly 7.26%. Average volume of shares traded over the last six months was remarkable at approximately 542.7K. The stock has a market cap of $3.41 billion.
However, the estimate revision trend does not look promising with three estimates moving south over the past two months. Notably, the current fiscal year estimates for the stock decreased by 22 cents to $1.58 per share over the same time frame. Additionally, the stock promises an earnings yield of 3.97% compared with the industry’s yield of only 1.16%.
Alere’s forensic toxicology division known as Alere Forensics is located at Redwood Toxicology Laboratory. The accreditation was effective on Dec 1, 2016. The accreditation encompasses post-mortem and human performance toxicology analysis, and covers driving under the influence of drugs and alcohol (DUID) testing.
Our Take
We believe that with the accreditation, Alere's forensic laboratory will be able to gain a better foothold in the market of timely testing services. Alere Forensics at Redwood Toxicology Laboratory will offer screening and confirmation of more than 100 drugs and drug metabolites. It would use fully validated analytical methods performed by qualified toxicologists. Alere’s laboratories process millions of specimens for several government, forensic, and criminal justice organizations each year.
Even global market trends seem to be quite lucrative, as an analysis by Grand View Research reveals that the RSV diagnostic market is forecast to reach a worth of $1.2 billion by 2022. Buoyed by this trend, we presume that Alere, with its latest ABFT Accreditation, will significantly gain traction over the long haul.
Zacks Rank & Key Picks
Currently, Alere has a Zacks Rank #5 (Strong Sell).
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 49.4%.
Cogentix Medical posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 75.8%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock registered an impressive one-year return of roughly 19.5%.
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Alere Forensic Toxicology Division Gets ABFT Accreditation
Waltham, MA based Alere Inc. , a leading player in rapid diagnostic tests, announced that its forensic toxicology division has received accreditation from the American Board of Forensic Toxicology (ABFT).
In the last six months, the stock registered a negative return of almost 1.87%, narrower than the Zacks categorized Medical Products sub-industry’s loss of roughly 7.26%. Average volume of shares traded over the last six months was remarkable at approximately 542.7K. The stock has a market cap of $3.41 billion.
However, the estimate revision trend does not look promising with three estimates moving south over the past two months. Notably, the current fiscal year estimates for the stock decreased by 22 cents to $1.58 per share over the same time frame. Additionally, the stock promises an earnings yield of 3.97% compared with the industry’s yield of only 1.16%.
Alere’s forensic toxicology division known as Alere Forensics is located at Redwood Toxicology Laboratory. The accreditation was effective on Dec 1, 2016. The accreditation encompasses post-mortem and human performance toxicology analysis, and covers driving under the influence of drugs and alcohol (DUID) testing.
Our Take
We believe that with the accreditation, Alere's forensic laboratory will be able to gain a better foothold in the market of timely testing services. Alere Forensics at Redwood Toxicology Laboratory will offer screening and confirmation of more than 100 drugs and drug metabolites. It would use fully validated analytical methods performed by qualified toxicologists. Alere’s laboratories process millions of specimens for several government, forensic, and criminal justice organizations each year.
Even global market trends seem to be quite lucrative, as an analysis by Grand View Research reveals that the RSV diagnostic market is forecast to reach a worth of $1.2 billion by 2022. Buoyed by this trend, we presume that Alere, with its latest ABFT Accreditation, will significantly gain traction over the long haul.
Zacks Rank & Key Picks
Currently, Alere has a Zacks Rank #5 (Strong Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , Cogentix Medical, Inc. (CGNT - Free Report) and Penumbra Inc. (PEN - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 49.4%.
Cogentix Medical posted a positive earnings surprise of 100% in the last reported quarter. Additionally, the company has a promising one-year return of almost 75.8%.
Penumbra has a long-term expected earnings growth rate of approximately 20%. Notably, the stock registered an impressive one-year return of roughly 19.5%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>