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PerkinElmer's Non-Invasive Saliva-Based Testing Gets CE Mark
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PerkinElmer, Inc. recently announced that its SARS-CoV-2 Real-time RT-PCR (reverse transcription-polymerase chain reaction) Assay received CE-IVD marking for the utilization of saliva as specimen type and the choice to combine up to five specimens from suspected COVID-19 infected or asymptomatic individuals.
Notably, the laboratories in countries where CE mark is recognized will now have the option of accepting saliva specimens and implement sample pooling utilizing PerkinElmer SARS-CoV-2 Real-time RT-PCR Assay.
The approval, with respect to non-invasive sample collection and batch processing, is an important advancement and a breakthrough in COVID-19 testing. This approval is likely to provide a boost to PerkinElmer’s Diagnostics segment.
More on the News
Apart from being less invasive, this kind of testing lowers the risk of exposure to healthcare workers who are engaged in sample collection and are in need for recurring replacement of personal protective equipment.
Governments and private organizations are working non-stop to boost the frequency of COVID-19 testing for individuals in order to maintain a balance between keeping the world economy running while ensuring safe practices. Per PerkinElmer’s management, its newly released saliva-based collection and asymptomatic test solution is likely to play a crucial role in this endeavor.
It is important to note here that the assay originally received its CE mark in the spring of 2020.
Market Prospects
Per a report published on Grand View Research, the global molecular diagnostics market was valued at $9.2 billion in 2019 and is expected to reach $18.2 billion by 2027, at a CAGR of 9%. Hence, the latest development has been a well-timed one for PerkinElmer.
Recent Development
In October 2020, PerkinElmer received the Emergency Use Authorization (EUA) from the FDA that allowed sample pooling with PerkinElmer New Coronavirus Nucleic Acid Detection Kit to increase the number of individuals who can be tested without the need for increasing resources.
Price Performance
Shares of the Zacks Rank #1 (Strong Buy) company have gained 47.6% in a year’s time, compared with the industry’s rally of 29.9%.
Cardinal Health has a projected long-term earnings growth rate of 5.4%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Patterson Companies has a projected long-term earnings growth rate of 8.9%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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PerkinElmer's Non-Invasive Saliva-Based Testing Gets CE Mark
PerkinElmer, Inc. recently announced that its SARS-CoV-2 Real-time RT-PCR (reverse transcription-polymerase chain reaction) Assay received CE-IVD marking for the utilization of saliva as specimen type and the choice to combine up to five specimens from suspected COVID-19 infected or asymptomatic individuals.
Notably, the laboratories in countries where CE mark is recognized will now have the option of accepting saliva specimens and implement sample pooling utilizing PerkinElmer SARS-CoV-2 Real-time RT-PCR Assay.
The approval, with respect to non-invasive sample collection and batch processing, is an important advancement and a breakthrough in COVID-19 testing. This approval is likely to provide a boost to PerkinElmer’s Diagnostics segment.
More on the News
Apart from being less invasive, this kind of testing lowers the risk of exposure to healthcare workers who are engaged in sample collection and are in need for recurring replacement of personal protective equipment.
Governments and private organizations are working non-stop to boost the frequency of COVID-19 testing for individuals in order to maintain a balance between keeping the world economy running while ensuring safe practices. Per PerkinElmer’s management, its newly released saliva-based collection and asymptomatic test solution is likely to play a crucial role in this endeavor.
It is important to note here that the assay originally received its CE mark in the spring of 2020.
Market Prospects
Per a report published on Grand View Research, the global molecular diagnostics market was valued at $9.2 billion in 2019 and is expected to reach $18.2 billion by 2027, at a CAGR of 9%. Hence, the latest development has been a well-timed one for PerkinElmer.
Recent Development
In October 2020, PerkinElmer received the Emergency Use Authorization (EUA) from the FDA that allowed sample pooling with PerkinElmer New Coronavirus Nucleic Acid Detection Kit to increase the number of individuals who can be tested without the need for increasing resources.
Price Performance
Shares of the Zacks Rank #1 (Strong Buy) company have gained 47.6% in a year’s time, compared with the industry’s rally of 29.9%.
Other Stocks to Consider
Some other top-ranked stocks from the broader medical space include Cardinal Health Inc. (CAH - Free Report) , Align Technology, Inc. (ALGN - Free Report) and Patterson Companies Inc. (PDCO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cardinal Health has a projected long-term earnings growth rate of 5.4%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Patterson Companies has a projected long-term earnings growth rate of 8.9%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>