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PerkinElmer's (PKI) Latest Kit to Boost COVID-19 Surveillance
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PerkinElmer, Inc. recently launched the research use only NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 with the aim of accelerating the detection of SARS-CoV-2 variants. This complete next-generation sequencing (NGS) solution will likely allow laboratories to boost sequencing throughput and make reliable variant identifications.
For investors’ note, PerkinElmer also offers the PKamp VariantDetect SARS-CoV-2 RT-PCR Assay for the simultaneous qualitative identification and differentiation of several known SARS-CoV-2 mutations, including Omicron. Omicron already made headlines as the latest Variant of Concern identified by the World Health Organization.
The latest launch is expected to significantly strengthen PerkinElmer’s SARS-CoV-2 testing portfolio, a component of PerkinElmer’s Applied Genomics business under the broader Diagnostics segment.
Significance of the Launch
The NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 will be using positive SARS-CoV-2 samples to detect mutations associated with all SARS-CoV-2 variants, including Omicron. The kit offers extensive benefits to laboratories in terms of speed, scalability and cost savings by incorporating newly-developed NEXTFLEX normalization beads. This, in turn, lowers turnaround time by three hours on average for 96 samples unlike other standard library prep kits, which require quantification and normalization of individual samples before pooling.
Additionally, the NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 uses Unique Dual Index barcodes to enable sequencing a considerable number of SARS-CoV-2 libraries in one flow cell. This provides very high throughput while minimizing per sample costs associated with sequencing.
Per management, the emergence of the Omicron variant reiterated the importance of SARS-CoV-2 surveillance to combat the COVID-19 pandemic. The NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 workflow was particularly designed to meet demands of the surveillance community by improving speed from sample to result, thereby increasing throughput and reducing workflow complexity.
Industry Prospects
Per a report by Allied Market Research, the global NGS market accounted for $6,598.62 million in 2020 and is anticipated to reach $35,503.66 million by 2030 at a CAGR of 18.2%. Factors like increase in genome mapping programs, growing applications of NGS in clinical diagnosis and the COVID-19 pandemic are likely to drive the market.
Given the market potential, the latest launch is expected to significantly strengthen PerkinElmer’s business worldwide.
Recent Developments
Of late, PerkinElmer has witnessed a few notable developments across its businesses.
In November, PKI launched its PKeye Workflow Monitor — a cloud-based platform enabling laboratory personnel to remotely manage and monitor their PerkinElmer instruments and workflows in real-time.
The same month, PerkinElmer reported robust third-quarter 2021 results wherein it witnessed robust segmental performances.
In October, PKI launched its Signals Research Suite, which is a full cloud-based solution and has been deployed on Amazon Web Services.
Price Performance
Shares of PerkinElmer have gained 29.2% in the past year compared with the industry’s 36.9% rise and the S&P 500 composite’s 29.8% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, PerkinElmer carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp, Thermo Fisher Scientific Inc. (TMO - Free Report) and AMN Healthcare Services (AMN - Free Report) .
LabCorp, carrying a Zacks Rank #2 (Buy), reported third-quarter 2021 adjusted earnings per share (EPS) of $6.82, which beat the Zacks Consensus Estimate by 42.9%. Revenues of $4.06 billion outpaced the consensus mark by 13.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LabCorp has an estimated long-term growth rate of 10.6%. The company surpassed estimates in the trailing four quarters, the average surprise being 25.73%.
Thermo Fisher reported third-quarter 2021 adjusted EPS of $5.76, which surpassed the Zacks Consensus Estimate by 23.3%. Third-quarter revenues of $9.33 billion outpaced the Zacks Consensus Estimate by 12%. It currently carries a Zacks Rank #2.
Thermo Fisher has an estimated long-term growth rate of 14%. The company surpassed estimates in the trailing four quarters, the average surprise being 9.02%.
AMN Healthcare reported third-quarter 2021 adjusted EPS of $1.73, which surpassed the Zacks Consensus Estimate by 29.1%. Third-quarter revenues of $877.8 million outpaced the Zacks Consensus Estimate by 12.3%. It currently sports a Zacks Rank #1.
AMN Healthcare has an estimated long-term growth rate of 16.2%. The company surpassed estimates in the trailing four quarters, the average surprise being 19.51%.
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PerkinElmer's (PKI) Latest Kit to Boost COVID-19 Surveillance
PerkinElmer, Inc. recently launched the research use only NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 with the aim of accelerating the detection of SARS-CoV-2 variants. This complete next-generation sequencing (NGS) solution will likely allow laboratories to boost sequencing throughput and make reliable variant identifications.
For investors’ note, PerkinElmer also offers the PKamp VariantDetect SARS-CoV-2 RT-PCR Assay for the simultaneous qualitative identification and differentiation of several known SARS-CoV-2 mutations, including Omicron. Omicron already made headlines as the latest Variant of Concern identified by the World Health Organization.
The latest launch is expected to significantly strengthen PerkinElmer’s SARS-CoV-2 testing portfolio, a component of PerkinElmer’s Applied Genomics business under the broader Diagnostics segment.
Significance of the Launch
The NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 will be using positive SARS-CoV-2 samples to detect mutations associated with all SARS-CoV-2 variants, including Omicron. The kit offers extensive benefits to laboratories in terms of speed, scalability and cost savings by incorporating newly-developed NEXTFLEX normalization beads. This, in turn, lowers turnaround time by three hours on average for 96 samples unlike other standard library prep kits, which require quantification and normalization of individual samples before pooling.
Additionally, the NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 uses Unique Dual Index barcodes to enable sequencing a considerable number of SARS-CoV-2 libraries in one flow cell. This provides very high throughput while minimizing per sample costs associated with sequencing.
Per management, the emergence of the Omicron variant reiterated the importance of SARS-CoV-2 surveillance to combat the COVID-19 pandemic. The NEXTFLEX Variant-Seq SARS-CoV-2 Kit v2 workflow was particularly designed to meet demands of the surveillance community by improving speed from sample to result, thereby increasing throughput and reducing workflow complexity.
Industry Prospects
Per a report by Allied Market Research, the global NGS market accounted for $6,598.62 million in 2020 and is anticipated to reach $35,503.66 million by 2030 at a CAGR of 18.2%. Factors like increase in genome mapping programs, growing applications of NGS in clinical diagnosis and the COVID-19 pandemic are likely to drive the market.
Given the market potential, the latest launch is expected to significantly strengthen PerkinElmer’s business worldwide.
Recent Developments
Of late, PerkinElmer has witnessed a few notable developments across its businesses.
In November, PKI launched its PKeye Workflow Monitor — a cloud-based platform enabling laboratory personnel to remotely manage and monitor their PerkinElmer instruments and workflows in real-time.
The same month, PerkinElmer reported robust third-quarter 2021 results wherein it witnessed robust segmental performances.
In October, PKI launched its Signals Research Suite, which is a full cloud-based solution and has been deployed on Amazon Web Services.
Price Performance
Shares of PerkinElmer have gained 29.2% in the past year compared with the industry’s 36.9% rise and the S&P 500 composite’s 29.8% growth.
Zacks Rank & Key Picks
Currently, PerkinElmer carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Laboratory Corporation of America Holdings (LH - Free Report) or LabCorp, Thermo Fisher Scientific Inc. (TMO - Free Report) and AMN Healthcare Services (AMN - Free Report) .
LabCorp, carrying a Zacks Rank #2 (Buy), reported third-quarter 2021 adjusted earnings per share (EPS) of $6.82, which beat the Zacks Consensus Estimate by 42.9%. Revenues of $4.06 billion outpaced the consensus mark by 13.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
LabCorp has an estimated long-term growth rate of 10.6%. The company surpassed estimates in the trailing four quarters, the average surprise being 25.73%.
Thermo Fisher reported third-quarter 2021 adjusted EPS of $5.76, which surpassed the Zacks Consensus Estimate by 23.3%. Third-quarter revenues of $9.33 billion outpaced the Zacks Consensus Estimate by 12%. It currently carries a Zacks Rank #2.
Thermo Fisher has an estimated long-term growth rate of 14%. The company surpassed estimates in the trailing four quarters, the average surprise being 9.02%.
AMN Healthcare reported third-quarter 2021 adjusted EPS of $1.73, which surpassed the Zacks Consensus Estimate by 29.1%. Third-quarter revenues of $877.8 million outpaced the Zacks Consensus Estimate by 12.3%. It currently sports a Zacks Rank #1.
AMN Healthcare has an estimated long-term growth rate of 16.2%. The company surpassed estimates in the trailing four quarters, the average surprise being 19.51%.