The G2 Diagnostic Stock Index gained over 9 percent for the first half of the year (Jan. 2 to July 31). Ten stocks increased for the period, while five stocks lost ground. The G2 Diagnostic Stock Index outperformed the broader stock markets so far this year, topping the Nasdaq and Standard & Poor’s (S&P) 5 […]
The G2 Diagnostic Stock Index gained over 9 percent for the first half of the year (Jan. 2 to July 31). Ten stocks increased for the period, while five stocks lost ground. The G2 Diagnostic Stock Index outperformed the broader stock markets so far this year, topping the Nasdaq and Standard & Poor’s (S&P) 5 percent gains over the period. The G2 Diagnostic Stock Index’s outperformance of the Nasdaq and S&P was carried by seven stocks experiencing strong double-digit gains, including large companies Abaxis, Abbott Laboratories, Illumina, and Johnson & Johnson, as well as two smaller companies, Orasure Technologies and Sequenom. The biggest gainer so far this year was Sequenom (San Diego), whose stock is up 61 percent year-to-date. At the end of July, the company reported second-quarter total revenue of $39.8 million, an increase of 62 percent over the second quarter of 2013. Over the same periods, total patient samples increased 7 percent to reach 50,100 accessioned, with the majority accounted for by the MaterniT21 PLUS test. While the new molecular pathology diagnostic codes had previously affected Sequenom’s reimbursement, the company reports that as of June 30, 140 million lives are covered for the MaterniT21 PLUS test. Agreements are in place for three of the top five national payers as well as with Medicaid programs in 15 states. Despite the reporting of some positive financial news, the stock of Cepheid (Sunnyvale, Calif.) slid 18 percent year-to-date in 2014. In mid-July the company reported revenue of $116.5 million, a jump of 21 percent the same quarter one year ago. However, Cepheid’s net loss widened with the company reporting a loss of 14 cents per share, compared to 8 cents per share a year ago. The company still expects total revenue in the range of $452 million to $461 million, but an earnings loss of 51 cents to 54 cents per share for the full year 2014. The revenue targets reflect strong clinical segment performance and better-than-expected High Burden Developing Countries sales for GeneXpert systems, which now total 7,096 systems placed worldwide as of June 30.
This content is exclusive to Diagnostic Testing and Emerging Technologies subscribers
Start a Free Trial for immediate access to this article and our entire archive of over 20 years of DTET reports.