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Veeva Systems (VEEV) Unveils New Study Training Application

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Veeva Systems Inc. (VEEV - Free Report) recently made an announcement about Veeva Vault Study Training — a new application that combines research sites, clinical research organizations (CROs) and sponsors into a single platform for end-to-end clinical study training. This new application brings together learning management and clinical operations for integrated and automated training and real-time inspection readiness.

This application builds upon Veeva Systems’ expertise in working with more than 450 companies utilizing Veeva Vault Clinical Suite applications and learnings from hundreds of Veeva Vault Training implementations. Companies in the life sciences space acknowledge the long-standing industry obstacle of training study staff and site personnel in an efficient and compliant manner.

It is worth mentioning that Vault Study Training will become available to early adopters in fall 2022.

This announcement is likely to provide a further boost to the company’s already robust product portfolio and increase product adoption as well.

Significance of Vault Study Training Application

Per management at Veeva Systems, with studies continuing to evolve and witnessing new levels of complexity, companies require a simple and integrated training system that can meet the demands of trials.

Veeva Systems’ complete and connected solution will aid life sciences companies in supporting current clinical master data and content to remove issues such as redundant information, manual data entry, and siloed processes.

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Vault Study Training automates assignment distribution, protocol amendment management, and training certificate filing for higher efficiency and reduced end of study reconciliation.

Market Prospects

Per a report by Grand View Research, the global clinical trials market was worth $47 billion in 2021 and is anticipated to witness a CAGR of 5.8% from 2022 to 2030. Hence, the announcement is well-timed for Veeva Systems.

Recent Developments

In May, Veeva Systems announced that more than 150 global enterprises and fast-growing companies are accelerating clinical trial operations with the adoption of Veeva Vault CTMS.  With the latest enhancements in Vault CTMS, Veeva Systems continues to deliver innovations that can solve critical trial challenges.

Again, in the same month, Veeva Systems’ Veeva Vault CDMS was selected by Lucid Diagnostics in order to offer electronic data capture coding and data cleaning in the latter’s upcoming study for EsoGuard in patients undergoing standard of care screening for, and management of, Barrett’s esophagus or esophageal adenocarcinoma.

In April, Veeva Systems extended its partnership with LEO Pharma to facilitate relevant discussions with the scientific community by using Veeva Link for Key People, which is a real-time intelligence application from the Veeva Link family of data products.

Price Performance

Shares of the Zacks Rank #3 (Hold) company have lost 35.1% in a year’s time compared with the industry’s decline of 57.4%.

Stocks to Consider

Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Masimo Corporation (MASI - Free Report) and Patterson Companies, Inc. (PDCO - 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 #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) 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.

Masimo’s estimated earnings growth rate for second-quarter 2022 is pegged at 22.3%. The company’s earnings yield is 3.8% against the industry’s (8.5%).

Patterson Companies surpassed earnings estimates in three of the trailing four quarters and missed once, the average surprise being 2.7%. The company currently carries a Zacks Rank #2.

Patterson Companies’ long-term earnings growth rate is estimated at 9.9%. The company’s earnings yield of 7.1% compares favorably with the industry’s 4.2%.