Hologic, Inc. ( HOLX Quick Quote HOLX - Free Report) recently announced the U.S. launch of the SuperSonic MACH 40 ultrasound system, which supports superior image quality. The product launch expands the company’s portfolio of ultrasound technologies with its first premium cart-based system. Notably, the SuperSonic MACH 40 system is part of Hologic’s expanding portfolio of ultrasound solutions resulting from the SuperSonic Imagine buyout. With the latest addition to the imaging product line, Hologic aims at strengthening the Breast Health business arm on a global scale. More About the Product The SuperSonic MACH 40 system leverages the UltraFast imaging technology, which is inspired by advanced graphic innovations in the video gaming industry. This technology enables advanced imaging modes without the trade-offs, unlike conventional systems. The enhanced engineering will prepare the system for future integration and AI-driven innovations. Significance of the Launch Per management, the addition of the SuperSonic MACH 40 has led to the foundation of a comprehensive portfolio of innovative and standard-setting breast ultrasound solutions that have been designed to cater to the requirements of breast imagers. The product design minimizes the needs of unnecessary biopsies by ruling out re-scans and reducing lesion correlation time, thereby improving overall diagnostic accuracy. The SuperSonic MACH 40 also features various innovative imaging technologies that provide additional diagnostic information, aiding it in better patient management through the ShearWave PLUS feature. The product also enables clinicians to visualize both the biopsy needle and anatomical structures in real time, as well as predicts the needle trajectory through the Needle PL.U.S. imaging technique. Physicians performing precision-dependent ultrasound-guided biopsies with the SuperSonic MACH 40 system can gain better control. The product design allows physicians to better focus on imaging, thereby enhancing workflow and increasing patient throughput. Industry Prospects Per a report by MarketsAndMarkets, the global breast imaging market is estimated to grow from $3.7 billion in 2020 to $5.4 billion by 2025 at a CAGR of 8.1%. Factors like technological advancements, rising prevalence of breast cancer and growing awareness of early detection of breast cancer are expected to drive the market. Given the market potential, the well-timed launch is expected to boost Hologic’s Breast Health business arm. Recent Developments in Breast Health Of late, Hologic has been witnessing a few developments in this business arm. During the company’s fiscal 2020 second-quarter earnings call in April, the company confirmed that the segment’s underlying trends were solid and it performed well through most of the quarter. However, gantries, accessories and 3D upgrade volumes were impacted by COVID-19-led business disruptions in late March. Price Performance Shares of the company have gained 20.7% in the past year compared with the industry and S&P 500’s 9.5% and 6.2% growth, respectively.
Zacks Rank & Stocks to Consider Currently, Hologic carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space include Quest Diagnostics Incorporated ( DGX Quick Quote DGX - Free Report) , Laboratory Corporation of America Holdings ( LH Quick Quote LH - Free Report) or LabCorp and QIAGEN N.V. ( QGEN Quick Quote QGEN - Free Report) . Quest Diagnostics’ long-term earnings growth rate is projected at 7.6%. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here . LabCorp’s long-term earnings growth rate is estimated at 6.1%. The company presently sports a Zacks Rank #1. QIAGEN’s long-term earnings growth rate is estimated at 12.2%. It currently flaunts a Zacks Rank #1. These Stocks Are Poised to Soar Past the Pandemic The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking. Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early. See the 5 high-tech stocks now>>