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Agilent (A) to Bolster DCG Segment With Upcoming Solutions
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Agilent Technologies (A - Free Report) has announced its plans to introduce new cell analysis, genomics, digital pathology and companion diagnostics solutions to highlight its advancement in cancer research and diagnostics at the American Association for Cancer Research Annual Meeting.
This includes Agilent NovoCyte Opteon Spectral Flow Cytometer, a user-friendly, advanced spectral flow cytometry system with multiple marker panels and up to 70 detectors, enhancing cancer research capabilities.
Further, the company will also feature Agilent Avida's advanced target enrichment solutions that enable DNA and methylation profiling from a single sample, supporting advanced applications like liquid biopsy and multiomics and providing accelerated access to genetic and epigenetic data.
The featured products will also include Agilent SureSelect Cancer Custom, SureSelect CD CiberMed Tissue and SureSelect CD CiberMed Heme panels, expanding the company’s SureSelect Cancer product portfolio.
Agilent is expected to gain solid traction across cancer research centers and clinics on the back of these upcoming solutions.
The latest move is in sync with the company’s growing efforts toward strengthening its Diagnostics and Genomics Group segment.
Apart from the upcoming solutions, Agilent launched the Agilent SureSelect Cancer CGP Assay, a pan-cancer assay designed for somatic variant profiling of solid tumor types, utilizing an NGS panel of 679 genes.
Further, Agilent received FDA approval for its PD-L1 IHC 22C3 pharmDx diagnostic tool, which helps in Gastric or Gastroesophageal Junction Adenocarcinoma diagnosis.
PD-L1 IHC 22C3 pharmDx identifies non-small cell lung, esophageal, cervical, head and neck and triple-negative breast cancer patients’ eligibility for treatment with KEYTRUDA, an anti-programmed cell death (PD1) therapy, along with chemotherapy, trastuzumab and fluoropyrimidine.
Additionally, Agilent signed a Research Collaboration Agreement with the National Cancer Centre Singapore to expedite translational cancer research on Asian-prevalent cancer genomics over two years.
Further, the agreement involves the provision of an Agilent Magnis NGS Preparation System for investigating specific details in Asian cancer cohorts, where tissue samples are limited locally and regionally.
To Conclude
Agilent’s growing efforts to combat cancer will enable it to capitalize on growth opportunities present in the global cancer diagnostics market. Per a Mordor Intelligence report, the global cancer diagnostics market will hit $106.24 billion in 2024 and reach $156.9 billion by 2029, exhibiting a CAGR of 8.1% during the forecast period of 2024-2029.
Moreover, all the above-mentioned endeavors to strengthen the DCG segment will likely aid the company’s overall financial performance in the near term.
However, the underlined segment is suffering from sluggishness in NGS reagents and increased clinical business mix at NASD.
Additionally, macroeconomic uncertainties and softening demand in China remain concerning for the company. Agilent’s shares have gained 1.7% in the year-to-date period, underperforming the Zacks Computer & Technology sector’s 14% growth.
The Zacks Consensus Estimate for second-quarter fiscal 2024 total revenues is $1.58 billion, indicating a year-over-year decline of 7.8%.
The consensus mark for second-quarter fiscal 2024 earnings is pegged at $1.19 per share, exhibiting a year-over-year decline of 6.3%.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold).
Image: Bigstock
Agilent (A) to Bolster DCG Segment With Upcoming Solutions
Agilent Technologies (A - Free Report) has announced its plans to introduce new cell analysis, genomics, digital pathology and companion diagnostics solutions to highlight its advancement in cancer research and diagnostics at the American Association for Cancer Research Annual Meeting.
This includes Agilent NovoCyte Opteon Spectral Flow Cytometer, a user-friendly, advanced spectral flow cytometry system with multiple marker panels and up to 70 detectors, enhancing cancer research capabilities.
Further, the company will also feature Agilent Avida's advanced target enrichment solutions that enable DNA and methylation profiling from a single sample, supporting advanced applications like liquid biopsy and multiomics and providing accelerated access to genetic and epigenetic data.
The featured products will also include Agilent SureSelect Cancer Custom, SureSelect CD CiberMed Tissue and SureSelect CD CiberMed Heme panels, expanding the company’s SureSelect Cancer product portfolio.
Agilent is expected to gain solid traction across cancer research centers and clinics on the back of these upcoming solutions.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Strengthening DCG Segment
The latest move is in sync with the company’s growing efforts toward strengthening its Diagnostics and Genomics Group segment.
Apart from the upcoming solutions, Agilent launched the Agilent SureSelect Cancer CGP Assay, a pan-cancer assay designed for somatic variant profiling of solid tumor types, utilizing an NGS panel of 679 genes.
Further, Agilent received FDA approval for its PD-L1 IHC 22C3 pharmDx diagnostic tool, which helps in Gastric or Gastroesophageal Junction Adenocarcinoma diagnosis.
PD-L1 IHC 22C3 pharmDx identifies non-small cell lung, esophageal, cervical, head and neck and triple-negative breast cancer patients’ eligibility for treatment with KEYTRUDA, an anti-programmed cell death (PD1) therapy, along with chemotherapy, trastuzumab and fluoropyrimidine.
Additionally, Agilent signed a Research Collaboration Agreement with the National Cancer Centre Singapore to expedite translational cancer research on Asian-prevalent cancer genomics over two years.
Further, the agreement involves the provision of an Agilent Magnis NGS Preparation System for investigating specific details in Asian cancer cohorts, where tissue samples are limited locally and regionally.
To Conclude
Agilent’s growing efforts to combat cancer will enable it to capitalize on growth opportunities present in the global cancer diagnostics market. Per a Mordor Intelligence report, the global cancer diagnostics market will hit $106.24 billion in 2024 and reach $156.9 billion by 2029, exhibiting a CAGR of 8.1% during the forecast period of 2024-2029.
Moreover, all the above-mentioned endeavors to strengthen the DCG segment will likely aid the company’s overall financial performance in the near term.
However, the underlined segment is suffering from sluggishness in NGS reagents and increased clinical business mix at NASD.
Additionally, macroeconomic uncertainties and softening demand in China remain concerning for the company. Agilent’s shares have gained 1.7% in the year-to-date period, underperforming the Zacks Computer & Technology sector’s 14% growth.
The Zacks Consensus Estimate for second-quarter fiscal 2024 total revenues is $1.58 billion, indicating a year-over-year decline of 7.8%.
The consensus mark for second-quarter fiscal 2024 earnings is pegged at $1.19 per share, exhibiting a year-over-year decline of 6.3%.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Applied Materials (AMAT - Free Report) , BlackLine (BL - Free Report) and AMETEK (AME - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Applied Materials have gained 28.8% in the year-to-date period. The long-term earnings growth rate for ABNB is 16.85%.
Shares of BlackLine have gained 2.5% in the year-to-date period. The long-term earnings growth rate for BL is currently projected at 5.50%.
Shares of AMETEK have gained 9.4% in the year-to-date period. The long-term earnings growth rate for AME is 9.19%.