As the huge annual JP Morgan Healthcare Conference kicks off in San Francisco, several medtech companies are gearing up to release pivotal financial updates and corporate news. Analysts at Canaccord Genuity and Needham have identified a bevy of firms set to make presentations or preliminary earnings announcements, shaping the financial forecast for the diagnostics and tools space.
Canaccord Genuity’s Expectations
Canaccord Genuity anticipates presentations from 10x Genomics (TXG), Exact Sciences (NASDAQ:EXAS), Guardant Health (NASDAQ:GH), Illumina (NASDAQ:ILMN), Natera (NTRA), Pacific Biosciences (NASDAQ:PACB), NanoString Technologies (NASDAQ:NSTG), Akoya Biosciences (NASDAQ:AKYA), and Quanterix (NASDAQ:QTRX). The firm also identifies front runners for preannouncing preliminary Q4 2023 financial results.
Key Companies in Focus
The companies seen as most likely to preannounce are Akoya, Exact Sciences, NanoString, and Pacific Biosciences, with Quanterix, Illumina, and Guardant also viewed as possibilities. Unlikely to preannounce are 10x Genomics and Natera, according to Canaccord. The investment firm doesn’t foresee any of these companies rolling out 2024 guidance this week.
Other Potential Updates
Other medtech companies that could potentially issue updates this week include Biodesix (BDX), Castle Biosciences (CSTL), Exagen (XGN), Lucid Diagnostics (LUCD), Olink (OLK), SomaLogic (SLGC), and Quantum-Si (QSI), according to Canaccord. Meanwhile, Needham expects at least 13 companies to pre-announce preliminary Q4 earnings by mid-January.
Focus on Individual Companies
Analysts at Needham have highlighted specific areas of interest for Alphatec, Hologic, and Masimo, including competitive rep hires, business updates, and capital allocation strategies. The firm predicts which company shares are most likely to overperform and underperform based on the anticipated announcements.
Macroeconomic Topics
Additionally, Needham foresees macro topics dominating conference discussions this year, such as inflation, supply chains, healthcare staffing, currency impacts, capital spending, and insights into the economic situation in China. The stage is set for a week of crucial updates and strategic insights.
