Becton, Dickinson and Company ( BDX Quick Quote BDX - Free Report) , also popularly known as BD, recently introduced its new fully-automated, high-throughput infectious disease molecular diagnostics platform in the United States. With the receipt of 510(k) clearance from the FDA, the new BD COR MX instrument is a new analytic instrument option for the BD COR System. It is worth mentioning that the BD COR System is a fully-automated, modular and scalable instrument developed to cater to multiple needs within laboratories to help manage to expand molecular testing volumes. The BD COR MX/PX System combines and automates the complete molecular laboratory workflow, ranging from sample processing to diagnostic test results for large, high-throughput labs. Meanwhile, the BD COR System eliminates the need to sort specimens, thereby helping the lab tech to have minimal interaction with the specimen, which in turn saves the time necessary for other critical lab processes. This announcement is likely to provide a boost to BD’s Life Sciences business. More on the News
The new system has the capacity to deliver up to 1,000 sample results in 24 hours, thereby eliminating multiple manual interactions per shift that are normally required. In fact, the system raises the standard of care for sexually transmitted infections.
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Per management at BD, before the pandemic, clinicians and laboratory technicians had to face increasing workloads and patient needs. These issues have substantially escalated due to the continued staff shortages and more workloads, thanks to the pandemic.
Hence, the BD COR MX/PX System helps lab technicians and clinicians to prioritize higher-value work by automating labor-intensive and mundane error-prone processes. Market Prospects
a report by Research and Markets, the global infectious disease molecular diagnostics market size is anticipated to reach $40.8 billion by 2028, witnessing a CAGR of 3.0% from 2020 to 2028. Hence, this announcement comes at an opportune time for BD. Recent Developments
This month, BD and Babson Diagnostics — a science-first health care technology company — recently extended their collaboration to move blood sample collection into new care settings. This will enable patients to take their blood samples at home for diagnostic testing.
In April, BD announced the launch of a new family of reagents that enables researchers to gain improved data resolution and greater insights from samples compared to traditional fluorochromes. In February, the company announced a collaboration with ReturnSafe to integrate the BD Veritor At-Home COVID-19 Test directly within the latter’s testing management platform. Price Performance
Shares of this Zacks Rank #4 (Sell) company have gained 5.6% in the past year against the
industry’s decline of 5%. Stocks to Consider
Some better-ranked stocks in the broader medical space are
AMN Healthcare Services, Inc. ( AMN Quick Quote AMN - Free Report) , Masimo Corporation ( MASI Quick Quote MASI - Free Report) and Veeva Systems, Inc. ( VEEV Quick Quote VEEV - Free Report) . AMN Healthcare surpassed earnings estimates in each of the trailing four quarters, the average surprise being 15.6%. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings yield of 11.4% compares favorably with the industry’s (0.8%). Masimo beat earnings estimates in each of the trailing four quarters, the average surprise being 4.4%. The company currently carries a Zacks Rank #2 (Buy). Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is pegged at 3.8% against the industry’s (8.5%). Veeva Systems surpassed earnings estimates in each of the trailing four quarters, the average surprise being 9.6%. The company currently carries a Zacks Rank #2. Veeva Systems’ long-term earnings growth rate is estimated at 18.1%. The company’s earnings yield of 2.4% compares favorably with the industry’s 0.2%.