QIAGEN N.V. ( QGEN Quick Quote QGEN - Free Report) recently introduced the QIAstat-Dx Rise and announced new enhancements to its menu of tests for the fully-integrated one-step molecular testing solution that delivers results in about an hour. The launch of the QIAstat-Dx Rise follows the receipt of CE-marking, which has expanded and strengthened QIAGEN’s syndromic testing offering.
The QIAstat-Dx Rise is a high-capacity version of the QIAstat-Dx automated syndromic system. This novel syndromic testing platform offers automated, comprehensive pathogen testing for higher-demand medical institutions.
The latest debut of the QIAstat-Dx Rise is likely to fortify QIAGEN’s Molecular Diagnostics business.
Few Words on QIAstat-Dx Rise
The QIAstat-Dx Rise and its test cartridges form a closed hands-off sample preparation and processing system. It can deliver diagnostic findings for up to 56 tests in an eight-hour shift and 160 tests per day by leveraging eight analytical modules. It is a flexible new option for increased testing capacity, which builds on the existing QIAstat-Dx Analyzer.
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Per management, the QIAstat-Dx Rise is compatible with the updated QIAstat-Dx Respiratory SARS-CoV-2 Panel, the QIAstat-Dx Gastrointestinal Panel 2 and all QIAGEN’s future assays.
Latest Improvements to QIAstat-Dx Offering
QIAGEN expanded the CE-marked QIAstat-Dx Respiratory SARS-CoV-2 Panel to test for Chlamydophila pneumonia—a bacteria causing respiratory infections with influenza-like symptoms. This panel can currently identify and distinguish between 23 viral and bacterial targets that cause respiratory infections.
The company also updated the CE-marked QIAstat-Dx Gastrointestinal Panel 2 with new features for better sample preparation and panel performance. This panel can identify and differentiate between 22 viral, bacterial, and parasitic targets causing gastrointestinal infections.
QIAGEN introduced a software upgrade for QIAstat-Dx Analyzer that improves the system’s cybersecurity, usability and connectivity features. The new software expands the QIAsphere cloud-based connectivity solution, enhancing QIAstat-Dx’s digital diagnostics capabilities.
Industry Prospects Per a report published in MarketsandMarkets, the global molecular diagnostics market is expected to see a CAGR of 5.4% from 2022 to 2027. Increasing technological advancements in molecular diagnostics and greater awareness regarding early disease diagnosis in developing countries are driving the market.
Given the market prospects, the launch of the QIAstat-Dx Rise and other upgrades to the QIAstat-Dx portfolio are appropriate.
Other Notable Developments by QIAGEN
QIAGEN engaged in several significant developments in May 2022.
The company inked agreements to acquire a 96% majority ownership stake in BLIRT S.A. — a manufacturer of recombinant enzymes for the life science industry. Based in Gdansk, Poland, BLIRT develops, manufactures and commercializes standardized and customized solutions for proteins, enzymes and molecular biology reagents. This buyout is likely to fortify the sample technologies business, one of QIAGEN’s five pillars of growth.
The company also announced the receipt of CE-IVD certification for its NeuMoDx HSV 1/2 Quant Assay. This authorization makes the NeuMoDx HSV 1/2 Quant Assay available in the European Union and other countries that recognize the CE-IVD marking to quantify and differentiate herpes simplex virus type 1 (HSV-1) DNA and/or herpes simplex virus type 2 (HSV-2). It also supports QIAGEN’s plan to expand the menu of tests available for use on the NeuMoDx 96 and 288 Molecular Systems.
Share Price Performance
The stock has outperformed its
industry in the past year. It has lost 1.8% compared with the industry’s 36.7% fall. Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are
AMN Healthcare Services, Inc. ( AMN Quick Quote AMN - Free Report) , Medpace Holdings, Inc. ( MEDP Quick Quote MEDP - Free Report) and UnitedHealth Group Incorporated ( UNH Quick Quote UNH - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 0.2% versus the industry’s 61.4% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2 (Buy).
Medpace has outperformed its industry in the past year. MEDP has declined 16.8% against the industry’s 61.4% fall.
UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.
UnitedHealth has outperformed the industry over the past year. UNH has gained 18.7% compared with 18% industry growth in the said period.