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Luminex's (LMNX) VERIGENE Panels Receive Approval in Japan
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Austin, TX-based Luminex Corporation recently announced that Japan's Central Social Insurance Medical Council has approved the recommendation by the Japanese Ministry of Health, Labor and Welfare (MHLW) to provide reimbursement for its proprietary VERIGENE assays. The approval was for two VERIGENE assays: the Gram-Positive Blood Culture test and the Gram-Negative Blood Culture test.
Stock Performance
Luminex has had an impressive run on the bourse over the past three months. The company gained roughly 14.34%, which is higher than the Zacks categorized Medical instruments sub industry’s addition of almost 7.92%.
The current level compares favorably with the S&P 500’s return of 4.20% over the same time frame. This, together with a long-term expected earnings growth rate of 16.25%, instills confidence in investors.
The estimate revision trend seems quite favorable for the stock at this moment, with one estimate moving up in the last 60 days and no downward movement, which indicates chances of a recovery. The current year estimate for the stock stands at 53 cents per share.
Coming back to the news, the MHLW approved reimbursement will be effective starting Jun 1, 2017. This decision follows regulatory clearance of these panels by Japan's Pharmaceuticals & Medical Devices Agency in 2016. Luminex’s proprietary VERIGENE System enables clinicians to rapidly identify the pathogens responsible for infectious diseases. This process is faster than time-consuming culture methods. VERIGENE provides cost-effective bacterial identification and antibiotic resistance determination directly from positive blood culture bottles which is up to 48 hours faster than conventional methods.
Luminex develops, manufactures and markets proprietary biological testing technologies with applications for the life sciences and diagnostics industry. The company’s open-architecture multiplexing Multi-Analyte Profiling technology is sold worldwide and is used by leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies for conducting biological tests.
Zacks Rank & Key Picks
Luminex currently carries a Zacks Rank #1 (Strong Buy).
Align Technologyhas an expected long-term adjusted earnings growth rate of almost 24%. The stock added roughly 43.8% over last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 81.4%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth rate of 30%. The stock has added roughly 9.8% over last three months.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Luminex's (LMNX) VERIGENE Panels Receive Approval in Japan
Austin, TX-based Luminex Corporation recently announced that Japan's Central Social Insurance Medical Council has approved the recommendation by the Japanese Ministry of Health, Labor and Welfare (MHLW) to provide reimbursement for its proprietary VERIGENE assays. The approval was for two VERIGENE assays: the Gram-Positive Blood Culture test and the Gram-Negative Blood Culture test.
Stock Performance
Luminex has had an impressive run on the bourse over the past three months. The company gained roughly 14.34%, which is higher than the Zacks categorized Medical instruments sub industry’s addition of almost 7.92%.
The current level compares favorably with the S&P 500’s return of 4.20% over the same time frame. This, together with a long-term expected earnings growth rate of 16.25%, instills confidence in investors.
The estimate revision trend seems quite favorable for the stock at this moment, with one estimate moving up in the last 60 days and no downward movement, which indicates chances of a recovery. The current year estimate for the stock stands at 53 cents per share.
Coming back to the news, the MHLW approved reimbursement will be effective starting Jun 1, 2017. This decision follows regulatory clearance of these panels by Japan's Pharmaceuticals & Medical Devices Agency in 2016. Luminex’s proprietary VERIGENE System enables clinicians to rapidly identify the pathogens responsible for infectious diseases. This process is faster than time-consuming culture methods. VERIGENE provides cost-effective bacterial identification and antibiotic resistance determination directly from positive blood culture bottles which is up to 48 hours faster than conventional methods.
Luminex develops, manufactures and markets proprietary biological testing technologies with applications for the life sciences and diagnostics industry. The company’s open-architecture multiplexing Multi-Analyte Profiling technology is sold worldwide and is used by leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies for conducting biological tests.
Zacks Rank & Key Picks
Luminex currently carries a Zacks Rank #1 (Strong Buy).
Other medical stocks that investors can consider are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Align Technology and Inogen sport a Zacks Rank #1, while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technologyhas an expected long-term adjusted earnings growth rate of almost 24%. The stock added roughly 43.8% over last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 81.4%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth rate of 30%. The stock has added roughly 9.8% over last three months.
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>