We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Philips Inks Telehealth Partnership Deal With American Well
Read MoreHide Full Article
Koninklijke Philips N.V. (PHG - Free Report) and American Well recently signed a telehealth partnership deal for mutually providing virtual care solutions for professional and consumer healthcare. Through this multi-year agreement, American Well’s premium virtual care capabilities will be combined with the professional and consumer digital health solutions of Philips.
Over the last month, shares of this Zacks Rank #3 (Hold) company yielded a return of 3.6%, marginally outperforming 3% growth recorded by the sector.
The company is poised to grow on the back of acquisitions, stronger innovation, and elevated healthcare and fitness spending. However, headwinds such as unfavorable currency-translation impact or business uncertainty in the United States might dent near-term prospects.
Inside the Headlines
American Well is a prominent telehealth provider of the United States. The company helps connect the care professionals with millions of consumers via video consults. Moreover, American Well ensures that the users are able to access services on a 24-hour basis. Notably, individuals are able to use these services even during absence of primary care physician, with the assistance of remotes. American Well is currently expanding its business across the globe.
Philips provides state-of-the-art consumer professional programs and devices, along with powerful analytics solutions. The company noted that its existing product line will strengthen on the back of American Well’s partnership deal. On the basis of this deal, the company will be able to provide services in various domains such as clinical intervention, data collection and care provision.
Per the deal, Philips Avent uGrow parenting application will be combined with the telehealth service of American Well. The telehealth inclusive version of Philips Avent uGrow will soon be downloadable in both Google Play and App Store.
Moreover, Philips will also reinforce American Well’s portable telehealth software development kit (SDK). This will help integrate video visits natively and seamlessly in different types of digital healthcare solutions of Philips.
Also, as per the deal, Philips will join the clinical amenities marketplace of American Well- American Well Exchange. Through this, the branded telehealth programs of Philips can be easily reallocated to employers, health plans and also the health systems within the ecosystem of American Well.
Stocks to Consider
Some better-ranked stocks in the same sector are listed below:
Applied Materials, Inc. (AMAT - Free Report) flaunts a Zacks Rank of 1. The company’s EPS is predicted to rise 12.67% over the next three to five years.
Aehr Test Systems (AEHR - Free Report) carries a Zacks Rank of 2 (Buy), at present. The company’s EPS is estimated to be up 20.00% during the same time period.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Image: Bigstock
Philips Inks Telehealth Partnership Deal With American Well
Koninklijke Philips N.V. (PHG - Free Report) and American Well recently signed a telehealth partnership deal for mutually providing virtual care solutions for professional and consumer healthcare. Through this multi-year agreement, American Well’s premium virtual care capabilities will be combined with the professional and consumer digital health solutions of Philips.
Over the last month, shares of this Zacks Rank #3 (Hold) company yielded a return of 3.6%, marginally outperforming 3% growth recorded by the sector.
The company is poised to grow on the back of acquisitions, stronger innovation, and elevated healthcare and fitness spending. However, headwinds such as unfavorable currency-translation impact or business uncertainty in the United States might dent near-term prospects.
Inside the Headlines
American Well is a prominent telehealth provider of the United States. The company helps connect the care professionals with millions of consumers via video consults. Moreover, American Well ensures that the users are able to access services on a 24-hour basis. Notably, individuals are able to use these services even during absence of primary care physician, with the assistance of remotes. American Well is currently expanding its business across the globe.
Philips provides state-of-the-art consumer professional programs and devices, along with powerful analytics solutions. The company noted that its existing product line will strengthen on the back of American Well’s partnership deal. On the basis of this deal, the company will be able to provide services in various domains such as clinical intervention, data collection and care provision.
Per the deal, Philips Avent uGrow parenting application will be combined with the telehealth service of American Well. The telehealth inclusive version of Philips Avent uGrow will soon be downloadable in both Google Play and App Store.
Moreover, Philips will also reinforce American Well’s portable telehealth software development kit (SDK). This will help integrate video visits natively and seamlessly in different types of digital healthcare solutions of Philips.
Also, as per the deal, Philips will join the clinical amenities marketplace of American Well- American Well Exchange. Through this, the branded telehealth programs of Philips can be easily reallocated to employers, health plans and also the health systems within the ecosystem of American Well.
Stocks to Consider
Some better-ranked stocks in the same sector are listed below:
Analog Devices, Inc. (ADI - Free Report) currently sports a Zacks Rank of 1 (Strong Buy). The company’s earnings per share (EPS) are projected to be up 10.40% in the next three to five years. You can see the complete list of today’s Zacks #1 Rank stocks here.
Applied Materials, Inc. (AMAT - Free Report) flaunts a Zacks Rank of 1. The company’s EPS is predicted to rise 12.67% over the next three to five years.
Aehr Test Systems (AEHR - Free Report) carries a Zacks Rank of 2 (Buy), at present. The company’s EPS is estimated to be up 20.00% during the same time period.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>