Becton, Dickinson and Company (BDX - Free Report) , also known as BD, recently announced the FDA 510(k) clearance of its BD MAX enteric viral panel, a molecular diagnostic test for the direct qualitative detection and differentiation of enteric viral pathogens that cause viral gastroenteritis. This is also likely to boost BD’s Diagnostic Systems apart from fortifying its foothold in the infectious disease diagnostics market.
However, the latest development failed to drive BD’s shares, which dipped 1.5% to $214.26 at close.
More on BD MAX
For investors’ notice. the BD MAX enteric viral panel is designed for targeted detection of the viral cause of infectious diarrhea symptoms in all care settings. Notably, it runs on the BD MAX system, which is a fully-integrated, automated molecular diagnostics platform.
In fact, earlier this year, the company obtained CE Mark for molecular screening test for antibiotic-resistant carbapenemase-producing organisms (CPOs) on the BD MAX System. (Read More: BD's CE Mark and Check-Point's Screening Test to Fight CPO)
BD Diagnostic Systems at a Glance
BD Diagnostic Systems provides products and instruments for detecting a broad range of infectious diseases, healthcare-associated infections and cancer. BD MAX majorly drove the segment’s revenues in the last reported quarter.
With the latest development, BD now has a wide portfolio of solutions for the detection of infectious diseases.
Last month, BD’s Phoenix CPO detect test received FDA 510(k) clearance. (Read More: BD's FDA Nod for Phoenix Test Boosts Diagnostic Systems)
Zion Market Research predicts that the global infectious disease diagnostics market will reach a worth of $21.28 billion by 2024 at a CAGR of 5.4%.
Hence the latest development has been a well-timed one for BD.
Shares Shine Bright
Over the past year, shares of BD have rallied 3.7% against the industry’s 11.4% decline. The current level also compares favorably with the S&P 500 index’s 8% fall.
Zacks Rank & Key Picks
BD currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Veeva Systems Inc. (VEEV - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and OPKO Health, Inc. (OPK - Free Report) .
Veeva Systems’ long-term earnings growth rate is projected at 19.5%. The stock currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Integer projects earnings growth rate of 31.2% for the fourth quarter. It currently carries a Zacks Rank #1.
OPKO Health’s long-term earnings growth rate is projected at 12%. The stock presently sports a Zacks Rank of 2 (Buy).
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