HealthLynked Corp. Announces Third Quarter and Year-to-Date 2024 Results with Strategic Restructuring, Third-Party Debt Repayment, and Core Technology Focus
NAPLES, Fla., Nov. 15, 2024 (GLOBE NEWSWIRE) — via IBN – HealthLynked Corp. HLYK, a leader in healthcare networking and technology innovation, today announced financial results for the three- and nine-months ending Sept. 30, 2024. With a renewed commitment to profitable growth, HealthLynked has restructured its clinical operations, reduced its third-party debt obligations, reduced physical plant cost and shifted focus toward its core software solutions, positioning the company for enhanced operational efficiency and scalability in the future.
Financial Highlights
Revenue: HealthLynked reported revenue of $0.59 million in the third quarter of 2024, reflecting a 56% decrease year-over-year from $1.33 million in Q3 2023 and a 26% sequential decline from $0.80 million in Q2 2024. For the first nine months of 2024, revenue totaled $2.39 million, a 12% drop from the preceding nine-month period (October 2023 to June 2024) and a 50% decrease from $4.79 million in the first nine months of 2023. This decline is primarily due to expected clinical revenue disruption resulting from our restructuring efforts related to onboarding of new clinical staffing, consolidating clinical locations and other right-sizing efforts.
Expense Reductions: HealthLynked reduced practice operating expenses by $0.50 million, or 39%, in Q3 2024 to $0.80 million, compared to $1.30 million in Q3 2023. Year-to-date, expenses decreased by 38%, underscoring the company’s continued focus on efficiency. Overall, total operating expenses fell by 10% in Q3 2024 compared to Q3 2023 and by 19% in the first nine months of 2024 compared to the same period in 2023.
Loss from Operations: The loss from operations for Q3 2024 was increased by $0.49 million. From $1.18 million, to $1.67 million loss in Q3 2023. Year-to-date, the loss from operations was $3.93 million, representing a 29% increase over the $3.04 million loss in the same period of 2023.
Net Income/Loss: HealthLynked reported a net loss of $1.97 million in Q3 2024, compared to a net loss of $0.17 million in Q3 2023. This difference was primarily attributable to a $1.08 million gain in 2023 related to the sale of ACO Health Partners. For the first nine months of 2024, the net loss was $4.90 million, contrasting with a net income of $0.27 million in the same period of 2023, primarily due to $3.76 million gains related to the ACO Health Partners sale recorded in 2023.
Strategic Outlook
HealthLynked remains committed to expanding its footprint through strategic partnerships and a growing user base. The company is shifting its focus from traditional clinical operations to app-based services, aiming to increase both user acquisition and revenue through innovative digital solutions. By leveraging its patient-centric network, HealthLynked anticipates significant growth in its membership base, enhancing healthcare accessibility for patients and providers alike.
HealthLynked’s software platform’s cost is significantly lower than the variable costs associated with operating clinical services. This shift allows HealthLynked to minimize the fluctuations in costs and revenue that typically accompany clinic operations, resulting in a leaner, more efficient business model.
CEO Contribution and Financial Support
Dr. Michael Dent, CEO of HealthLynked, has played a crucial role in providing the necessary financial support for the company’s operations during this period of transition, with $2.7 million in debt funded so far in 2024. His commitment has enabled HealthLynked to navigate this restructuring phase successfully, setting a foundation for future growth as the company benefits from reduced third-party debt service and an optimized cost structure.
Executive Commentary
Dr. Michael Dent, CEO of HealthLynked, stated, “Our restructuring efforts in our clinical operations are designed to maximize profitability and support our transition toward core technology solutions. With telemedicine services just now available in all 50 states and our paid concierge services gaining traction, HealthLynked is well-positioned to drive revenues by focusing on the value of our patient-centric software platform. This shift allows us to better serve patients and providers across the nation, reducing operational overhead while expanding our reach and impact in healthcare.”
About HealthLynked
HealthLynked Corp. is dedicated to improving global community health. Our mission is to transform healthcare into a system marked by enhanced efficiency and improved care for all, leveraging cutting-edge technology and connectivity that places patients at the heart of their healthcare journey. The HealthLynked Network is a sophisticated cloud-based platform designed to facilitate the seamless exchange of medical information among patients and healthcare providers. By centralizing and securing medical data, the HealthLynked Network empowers patient members to manage their healthcare with unparalleled ease and efficiency, while offering providers an environment where they can gain valuable insights into practice operations, enhance patient compliance, and optimize scheduling.
For more information about HealthLynked Corp., including details on how to become part of our growing community, please visit our website at www.healthlynked.com. Connect with us on social media through Twitter, Facebook, Instagram, and LinkedIn to stay updated on our latest innovations and services. Download the HealthLynked App for Apple or Android.
Forward-Looking Statements & Risk Factors
Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Our actual results, including as a result of any acquisitions, performance, or achievements, may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would,” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management and us, are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information, or future events, changes in assumptions, or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the “Risk Factors” section of our most recent Annual Report on Form 10-K and in other filings we have made with the U.S. Securities and Exchange Commission. These reports are publicly available at www.sec.gov.
Contact Information:
Mike Paisan
HealthLynked Corp.
1265 Creekside Pkwy, Suite 301
Naples, Florida 34108
Phone: 1-800-928-7144
Email: IR@healthlynked.com
| HealthLynked Corp. Selected Consolidated Financial Data Three and Nine Months Ended September 30, 2024 and 2023 |
|||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Statement of Operations Data: | |||||||||||||||
| Total revenue | $ | 590,124 | $ | 1,332,515 | $ | 2,389,434 | $ | 4,791,165 | |||||||
| Loss from operations | $ | (1,671,347) | $ | (1,184,843) | $ | (3,928,874) | $ | (3,039,569) | |||||||
| Loss from continuing operations | $ | (1,973,119) | $ | (161,370) | $ | (4,901,273) | $ | (2,328,218) | |||||||
| Gain (loss) from discontinued operations | $ | — | $ | (13,554) | $ | — | $ | 2,601,774 | |||||||
| Net income (loss) | $ | (1,973,119) | $ | (174,924) | $ | (4,901,273) | $ | 273,556 | |||||||
| Earnings (loss) per share data, basic and diluted: | |||||||||||||||
| Loss from continuing operations | $ | (0.01) | $ | (0.00) | $ | (0.02) | $ | (0.01) | |||||||
| Gain (loss) on discontinued operations | $ | 0.00 | $ | (0.00) | $ | 0.00 | $ | 0.01 | |||||||
| Net income (loss) | $ | (0.01) | $ | (0.00) | $ | (0.02) | $ | 0.00 | |||||||
| Weighted average number of common shares | 281,947,151 | 265,519,460 | 281,428,579 | 260,853,370 | |||||||||||
| September 30, | December 31, | ||||||||||||||
| Balance Sheet Data: | 2024 | 2023 | |||||||||||||
| Total Assets | $ | 2,758,158 | $ | 4,280,140 | |||||||||||
| Total Liabilities | $ | 4,691,077 | $ | 3,475,410 | |||||||||||
| Total Shareholders’ Equity | $ | (1,932,919 | ) | $ | 804,730 | ||||||||||
Wire Service Contact:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cardiovascular Devices Market Overview: Growth Drivers and Competitive Landscape | Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Nov. 15, 2024 (GLOBE NEWSWIRE) — The global cardiac device market is experiencing tremendous growth. This is driven by the increasing prevalence of chronic heart disease. This increase in heart conditions is driving the use of high-tech devices for diagnostic and surgical purposes. In addition, the price drop of critical cardiac medical equipment such as coronary stents is decreasing. It is helping to increase market expansion. Particularly in emerging markets like India, Harvard’s T.H. Chan School of Public Health found that the number of heart procedures in Maharashtra increased 43% as the price of coronary stents dropped. It emphasizes the positive impact of affordable medical devices on patients’ treatment choices.
Access PDF Sample Report (Including Graphs, Charts & Figures) @
https://exactitudeconsultancy.com/reports/24647/cardiovascular-devices-market/#request-a-sample
This growth trend will continue. with key market players increasing their R&D efforts to develop innovative products designed to improve outcomes for cardiovascular patients. The increasing incidence of cardiovascular disease across the world is also fueling the expansion of this market. As a result, the cardiology devices market is poised for strong growth throughout the forecast period. Although the spread of COVID-19 will have a negative impact on the market. This is especially true because elective heart surgery procedures have been postponed and hospital admissions have decreased. But the market is continuing to recover. The pandemic has delayed non-urgent procedures, such as percutaneous coronary intervention (PCI) for stable ischemic heart disease. This is because health care resources have been redirected to managing COVID-19. But demand for cardiac equipment is increasing. Innovative products…from the beginning have helped The market returns to its pre-epidemic growth trajectory.
- Technological Innovation in Cardiology Devices: Major players in the industry continue to focus on developing cutting-edge diagnostic and therapeutic solutions, such as AI-powered diagnostic tools and advanced stent technologies, to enhance patient outcomes and broaden market adoption.
- Regional Expansion: The demand for cardiology devices is expected to rise significantly in emerging markets, particularly in regions like Asia-Pacific and Latin America, as healthcare infrastructure improves and access to advanced medical technologies increases.
- Government Initiatives: Governments worldwide are increasingly prioritizing healthcare reforms, including the expansion of cardiology services, which is expected to further drive demand for heart disease-related medical devices.
High Demand for Advanced Cardiovascular Devices Drives Market Growth
The growing demand for advanced cardiovascular devices is propelled by an increasing number of patients suffering from chronic heart diseases, many of whom require state-of-the-art diagnostic and therapeutic solutions. This is particularly true for coronary stents and other devices with enhanced safety features. Patients now seek devices that not only provide effective treatment but also minimize the risk of complications, such as infections often associated with bare-metal stents.
Technological advancements have also spurred a demand for devices with remote cardiac monitoring capabilities. These features provide patients with accurate, real-time insights into their heart health, improving overall treatment efficacy and patient convenience. As a result, leading manufacturers in the cardiovascular devices market are prioritizing the development of innovative, feature-rich products. For example, in November 2021, Medtronic launched the Arctic Front Cardiac Cryoablation Catheter System, the first cryoballoon catheter to receive CDSCO approval, designed for treating atrial fibrillation. Similarly, in February 2021, Remo Care Solutions introduced an AI-powered remote cardiac monitoring device, Remo.Cardia, which analyzes patients’ vitals in real-time, offering effective monitoring for individuals with cardiovascular conditions.
The growing patient pool, paired with the increasing demand for advanced features, is expected to significantly drive the growth of the cardiovascular devices market in the coming years.
- Technological Advancements and Patient-Centered Features: The rising preference for devices that integrate features like AI, wireless connectivity, and remote monitoring is making these tools indispensable for both healthcare professionals and patients. These devices not only provide real-time data but also enable more tailored and effective treatment plans, which is especially important for individuals in need of continuous monitoring.
- Emerging Markets: The rise of emerging markets, where a greater focus on affordability and accessibility of advanced cardiovascular devices is occurring, is also a significant driver. Increased awareness and healthcare infrastructure improvements in countries such as India, Brazil, and China are contributing to the demand for cost-effective yet advanced cardiovascular technologies.
- Market Recovery Post-COVID-19: While the pandemic temporarily disrupted elective cardiovascular procedures, there is now a rebound in the demand for cardiovascular devices as health systems resume normal operations. The resurgence in heart disease diagnoses and treatments is fueling further growth in this sector.
Increase in Cardiovascular Diseases Prevalence to Drive Global Market Growth
The global cardiovascular devices market is poised for significant growth, largely driven by the rising prevalence of heart diseases. Cardiovascular diseases (CVDs) are among the most costly in terms of healthcare services, and conditions such as coronary artery disease (CAD) and heart failure are becoming increasingly prevalent. Coronary stents, crucial devices used in treating life-threatening conditions such as heart attacks, atrial fibrillation, and blocked arteries, are in high demand as they offer vital treatment for patients with these conditions.
Data from the Centers for Disease Control and Prevention (CDC) highlighted that in 2022, approximately 4.9% of adults in the U.S. were diagnosed with coronary heart disease, and CVDs remain the leading cause of death in the country, accounting for 695,547 deaths in the same year. Globally, the World Health Organization (WHO) estimates that heart diseases are responsible for approximately 17.9 million deaths annually. These alarming statistics emphasize the increasing need for innovative and advanced cardiovascular devices.
Further driving market expansion, the surge in device approvals by regulatory authorities is expected to fuel market growth. Additionally, various public initiatives aimed at expanding access to cardiovascular devices in developing regions are expected to enhance market prospects, particularly in underserved areas.
- Regulatory Approvals and Innovation: The acceleration in approvals for new devices by regulatory bodies like the FDA and European Medicines Agency (EMA) has provided a significant boost to the market. Companies are focusing on research and development to introduce innovative technologies, improving treatment options for patients worldwide.
- Rising Awareness in Developing Markets: Countries in Asia, Africa, and Latin America are seeing an increase in healthcare awareness and infrastructure development, which is contributing to the rising demand for cardiovascular devices. This presents substantial opportunities for manufacturers targeting emerging markets.
- Aging Population: As the global population continues to age, the incidence of chronic heart conditions is expected to rise. This demographic shift further underscores the growing need for cardiovascular devices that can address a wide range of heart diseases.
Report Link Click Here: https://exactitudeconsultancy.com/reports/24647/cardiovascular-devices-market/
Increasing Availability of Efficient Devices to Propel Market Growth
The global cardiovascular devices market is witnessing significant growth, driven by the increasing prevalence of heart diseases and the expanding availability of advanced and cost-effective devices. As healthcare systems in emerging markets such as India, China, and Mexico continue to develop, the demand for these life-saving technologies has surged. With numerous initiatives aimed at improving access to affordable cardiovascular devices in these regions, market growth is set to accelerate in the coming years.
For example, in January 2023, UltraLinQ Healthcare Solutions introduced a new cardiac monitoring product at the Arab Health 2023. This end-to-end system allows specialist clinics and hospitals to offer Holter services remotely, enhancing patient access to care, even in the comfort of their homes. Such innovations are helping bridge healthcare gaps in emerging economies, further driving the adoption of cardiovascular devices.
Increasing Barriers in R&D Activities Could Restrict Market Growth
Despite these positive developments, the cardiovascular devices market faces challenges in terms of research and development (R&D) efforts. The high costs associated with the advancement of innovative devices, compounded by ineffective reimbursement models, have created barriers to progress. For example, countries that impose price caps on essential life-saving devices, such as coronary stents, discourage manufacturers from investing in new product developments. This can slow innovation and the introduction of advanced devices into the market.
Additionally, stringent regulatory policies are also restricting market growth. Devices that do not meet regulatory guidelines cannot be commercialized, resulting in financial losses for manufacturers. Furthermore, product recalls have become more frequent in recent years, tarnishing the reputation of manufacturers. For instance, in 2023, the U.S. FDA announced that Abbott recalled its NC Traveler RX Coronary Dilatation Catheters due to issues with balloon deflation. These challenges underscore the hurdles manufacturers must navigate to ensure the continued growth and innovation of the cardiovascular devices market.
North America to Maintain Dominance in the Cardiovascular Devices Market
North America continues to dominate the global cardiovascular devices market, with the U.S. accounting for a significant share in 2023. This is driven by a combination of factors including the prevalence of cardiovascular diseases, increased healthcare expenditure, and robust access to advanced medical infrastructure. According to the American Heart Association, cardiovascular diseases were responsible for around 18.6 million deaths in the U.S. in 2019, highlighting the significant burden of these diseases. The growing adoption of innovative medical technologies, alongside favorable reimbursement policies and a strong healthcare infrastructure, has led to an increased demand for cardiovascular diagnostic devices and surgical interventions across the region.
Asia Pacific: The Fastest-Growing Market for Cardiovascular Devices
The Asia Pacific (APAC) region is expected to exhibit the fastest growth in the cardiovascular devices market during the forecast period. This growth is driven by factors such as a large population base, rising incidence of cardiovascular diseases, increasing healthcare expenditure, and investments in healthcare infrastructure. According to the World Health Organization, approximately 75% of deaths from cardiovascular diseases occur in low- and middle-income countries, underscoring the region’s vulnerability. The increasing accessibility to healthcare services, alongside the rising affordability of medical technologies, is fueling the adoption of cardiovascular devices in these areas. Moreover, the rapidly expanding geriatric population, which is expected to constitute 80% of the global elderly population by 2050, will further drive the demand for cardiovascular devices in the APAC region.
Key Drivers of Cardiovascular Devices Market Growth
The global cardiovascular devices market is experiencing significant growth due to several key factors, most notably the increasing prevalence of chronic cardiovascular diseases worldwide. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death globally, accounting for an estimated 17.9 million deaths each year. Key contributors to this rise include unhealthy diets high in salt, increased tobacco use, alcohol consumption, and the growing incidence of obesity and physical inactivity, all of which heighten the risk of cardiovascular conditions.
The demand for early diagnosis is a major factor in driving the market, as early detection of cardiovascular diseases can significantly improve treatment outcomes. In addition, the aging population is contributing to the rise in cardiovascular diseases, as older individuals are more susceptible. The United Nations projects that by 2050, the global geriatric population will reach approximately 2 billion, further increasing the demand for cardiovascular care.
The market is also buoyed by technological advancements, particularly in product innovations. For example, in February 2021, Remo Care Solutions introduced an AI-based remote monitoring device designed to analyze real-time cardiovascular conditions of patients. This integration of artificial intelligence (AI) into cardiovascular devices is enhancing patient care services and helping to reduce mortality rates. Additionally, the rising investments by leading market players in research, development, and clinical trials are expected to open new avenues for growth in the coming years, further accelerating the demand for these critical devices.
Cardiovascular Devices Market Key Players:
- B. Braun Melsungen AG (Melsungen, Germany)
- Medtronic (Dublin, Ireland)
- Abbott (Abbott Park, U.S.)
- Boston Scientific Corporation (Marlborough, U.S.)
- Edwards Lifesciences Corporation (Irvine, U.S.)
- Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
- GENERAL ELECTRIC COMPANY (GE Healthcare) (Chicago, U.S.)
- LivaNova PLC (London, U.K.)
- Siemens Healthcare GmbH (Erlangen, Germany)
- Terumo Cardiovascular Systems Corporation (Tokyo, Japan)
- Medtronic
- LivaNova Plc
- Edwards Lifesciences Corporation
- GE Healthcare
- Siemens Healthcare GmbH
Key Developments
- In 2023, a new ablation technology, pulsed field ablation (PFA), showed promise as a safer and faster alternative to traditional thermal ablation for treating atrial fibrillation (AFib). This technique uses electrical fields to target heart muscle cells without damaging surrounding tissues, offering a potentially more effective treatment for AFib patients.
- Recent studies have confirmed that endovascular thrombectomy, a minimally invasive procedure to remove blood clots from the brain, benefits even patients with large, severe strokes. This development could improve outcomes for patients who previously had limited treatment options.
- In recent trials, advanced imaging technologies have improved the placement of stents in patients with complex coronary lesions. These new techniques help doctors achieve better outcomes for patients with challenging heart conditions, including those with diabetes.
- Zilebesiran, a new drug targeting blood pressure regulation, showed positive results in clinical trials by offering long-lasting blood pressure reductions with a single injection. This medication could potentially become a significant advancement in treating hypertension and related cardiovascular conditions.
- In February 2021, Remo Care Solutions introduced an AI-based remote monitoring device for cardiac patients. This device analyzes cardiovascular conditions in real time, improving management and potentially reducing hospital visits.
Segments Covered in the Report
By Device Type
- Diagnostic & Monitoring
- ECG
- Holter Monitors
- Event Monitors
- Implantable Loop Recorders
- Echocardiogram
- Pet Scan
- MRI
- Cardiac CT
- Doppler Fetal Monitors
- Therapeutic & Surgical Devices
- Pacemakers
- Stents
- Catheters and accessories
- Guidewires
- Cannulae
- Electrosurgical Procedures
- Valves
- Occlusion Devices
- Others
By End User
- Hospitals
- Specialty Clinics
- Others
By Application
- Cardiac Arrhythmia
- Coronary Artery Disease
- Heart Failure
- Others
By Geography
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- MEA
- Latin America
- Rest of the World
Get a Sample PDF Brochure: https://exactitudeconsultancy.com/reports/24647/cardiovascular-devices-market/#request-a-sample
Related Reports:
Optical Imaging Market
https://exactitudeconsultancy.com/reports/2375/optical-imaging-market/
The global optical imaging market is expected to grow at more than 15.1% CAGR from 2019 to 2028. It is expected to reach above USD 4.25 billion by 2028 from a little above USD 1.11 billion in 2019.
Denture Market
https://exactitudeconsultancy.com/reports/5020/denture-market/
The global denture market is expected to grow at 6% CAGR from 2022 to 2029. It is expected to reach above USD 3.48 billion by 2029 from USD 2.15 billion in 2020.
Electronic Drug Delivery Systems Market
https://exactitudeconsultancy.com/reports/1262/electronic-drug-delivery-systems-market/
The Global Electronic Drug Delivery Systems Market is expected to grow at 8.1% CAGR from 2019 to 2028. It is expected to reach above USD 14.36 million by 2028 from USD 7.50 million in 2019.
Medical Adhesives Market
https://exactitudeconsultancy.com/reports/3134/medical-adhesives-market/
The medical adhesive market is projected to grow from USD 8.14 billion in 2020 to USD 15.60 billion by 2029, at a CAGR of 7.5% between 2022 and 2029.
Cryogenic Equipment Market
https://exactitudeconsultancy.com/reports/5442/cryogenic-equipment-market/
The global cryogenic equipment market is expected to grow at more than 7.2% CAGR from 2022 to 2029. It is expected to reach above USD 41.5 billion by 2029 from USD 22.19 billion in 2020.
Peripheral Vascular Devices Market
https://exactitudeconsultancy.com/reports/5615/peripheral-vascular-devices-market/
The global peripheral vascular devices market is expected to grow at 6% CAGR from 2022 to 2029. It is expected to reach above USD 17.74 billion by 2029 from USD 10.5 billion in 2020.
Transcatheter Aortic Valve Replacement (TAVR) Market
https://exactitudeconsultancy.com/reports/3811/transcatheter-aortic-valve-replacement-tavr-market/
The global transcatheter aortic valve replacement (TAVR) market is expected to grow at 22% CAGR from 2022 to 2029. It is expected to reach above USD 26 billion by 2029 from USD 4.34 billion in 2020.
Infusion Pump Market
https://exactitudeconsultancy.com/reports/1224/infusion-pumps-market/
The global infusion pump market is anticipated to grow from USD 9.4 billion in 2020 to USD 18.6 billion by 2029, at a CAGR of 8.1 % during the forecast period.
Surgical Navigation Systems Market
https://exactitudeconsultancy.com/reports/3052/surgical-navigation-systems-market/
The global surgical navigation systems market size is expected to grow at more than 6.3% CAGR from 2022 to 2029. It is expected to reach above USD 2,300 million by 2029 from USD 800 million in 2020.
Controlled Release Drug Delivery Market
https://exactitudeconsultancy.com/reports/3477/controlled-release-drug-delivery-market/
The global controlled release drug delivery market size is expected to grow at 7.8% CAGR from 2022 to 2029. It is expected to reach above USD 78.41 billion by 2029 from USD 39.88 billion in 2020.
Nuclear Imaging Equipment Market
https://exactitudeconsultancy.com/reports/5639/nuclear-imaging-equipment-market/
The global Nuclear Imaging Equipment Market size is USD 2.60 billion in 2020 and is expected to grow till USD 4.43 billion by 2029, at a Compounded annual growth rate (CAGR) of 6.31%.
Dental Consumables Market
https://exactitudeconsultancy.com/reports/2464/dental-consumables-market/
The global dental consumables market is expected to grow at 10.5% CAGR from 2019 to 2028. It is expected to reach above USD 64.37 billion by 2028 from USD 26.21 billion in 2019.
Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@exactitudeconsultancy.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Progressive Reports October 2024 Results
MAYFIELD VILLAGE, OHIO, Nov. 15, 2024 (GLOBE NEWSWIRE) — The Progressive Corporation PGR today reported the following results for the month ended October 31, 2024:
| October | ||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2024 | 2023 | Change | |||||||
| Net premiums written | $ | 6,577.8 | $ | 5,528.8 | 19 | % | ||||
| Net premiums earned | $ | 6,387.0 | $ | 5,383.2 | 19 | % | ||||
| Net income | $ | 408.2 | $ | 406.0 | 1 | % | ||||
| Per share available to common shareholders | $ | 0.69 | $ | 0.68 | 1 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | (88.0 | ) | $ | (87.1 | ) | 1 | % | ||
| Combined ratio | 94.1 | 91.7 | 2.4 | pts. | ||||||
| Average diluted equivalent common shares | 587.7 | 587.6 | 0 | % | ||||||
| October 31, | |||||
| (thousands; unaudited) | 2024 | 2023 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 9,580.9 | 8,336.4 | 15 | ||
| Direct – auto | 13,653.0 | 11,142.2 | 23 | ||
| Total personal auto | 23,233.9 | 19,478.6 | 19 | ||
| Total special lines | 6,504.4 | 5,964.4 | 9 | ||
| Total Personal Lines | 29,738.3 | 25,443.0 | 17 | ||
| Total Commercial Lines | 1,140.7 | 1,108.5 | 3 | ||
| Total Property business | 3,485.3 | 3,046.2 | 14 | ||
| Companywide Total | 34,364.3 | 29,597.7 | 16 | ||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
About Progressive
Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.
Company Contact:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com
Download PDF: Progressive October 2024 Complete Earnings Release
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Are Trust Deeds A More Secure Alternative To Real Estate Syndicates?
For investors seeking a more secure and reliable alternative to real estate syndication, trust deeds may potentially offer a flexible and low-risk investment with the promise of high returns, but without the hassle of property management.
A trust deed is an agreement between a borrower and a lender to have a private loan secured by real estate. Trust deed investors act as the bank, earning passive income through interest rate payments. This type of investment is facilitated by a mortgage broker and loan servicing agent, such as Ignite Funding.
Benefits Of Trust Deed Investing Over Syndication
Trust deeds are an often-overlooked investment opportunity, despite the many advantages they have over real estate syndicates. One of the key benefits is the higher level of security they offer. While syndication involves pooling funds to purchase and collectively manage properties, trust deed investors hold a secured interest in a specific property, which limits risk as they have the right to foreclose if the borrower defaults on the loan. Furthermore, in the case of “first” trust deeds, the deed holder is the first to get paid back in the event of a default, giving investors an added layer of security.
There is also a greater degree of transparency when opting for trust deed investments over syndications, as investors are able to conduct thorough due diligence on the underlying property. This transparency, along with fixed interest rates and regular monthly payments, helps ensure a stable and reliable income stream, making it an attractive option for anyone looking to diversify their investment portfolio.
Trust deed investors also have more control, as they can choose specific properties to invest in and therefore tailor their own real estate investment strategy. They also have more flexibility as they can choose the loan and terms that suit their objectives. This type of control and adaptability is not something you typically get with syndication.
Additionally, by earning interest on the loan amount, trust deeds often yield higher returns, and can potentially be more profitable than traditional syndications and other passive investments.
How To Maximize Returns With Trust Deeds
To optimize returns, it is important to choose a reputable mortgage broker with a strong track record. Partnering with a reliable company such as Ignite Funding can boost your chances of reaping a high return on investment. They can help you carry out due diligence on both the property and borrower, which is a crucial step in trust deed investment.
Prudent investors will also diversify their investments across multiple properties or loan types in order to mitigate risk. This can help protect their investments against market fluctuations and balance potential returns with effective risk management.
If you’re looking for an investment that combines security, transparency and flexibility with the potential for strong returns, trust deeds are an option worth exploring and may offer a compelling alternative to real estate syndications.
Find out more about trust deed investing by visiting the Ignite Funding website or text the word “Benzinga” to 702-919-4281 for additional information.
Ignite Funding, LLC | 6700 Via Austi Parkway, Suite 300, Las Vegas, NV 89119 | P 702.739.9053 | T 702.919.4281 | F 702.922.6700 | NVMBL #311 | AZ CMB-0932150 | | Money invested through a mortgage broker is not guaranteed to earn any interest and is not insured. Prior to investing, investors must be provided applicable disclosure documents.
Featured photo by Oleksandr Pidvalnyi from Pixabay.
This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Exploring the Hearing Aids Industry: Growth, Technology, and Consumer Demand | Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Nov. 15, 2024 (GLOBE NEWSWIRE) — The global market for hearing loss solutions is poised for significant growth, driven by advancements in hearing aid technologies, the expanding geriatric population, and the increasing prevalence of hearing loss worldwide. Sensorineural hearing loss, predominantly affecting the elderly, continues to dominate market demand, with hearing aid devices being the most sought-after solutions.
Key drivers for this growth include the rising incidence of noise-induced hearing loss and the introduction of digital and AI-enabled hearing aids that enhance sound amplification and user experience. These innovations are transforming the landscape of hearing assistance, providing better auditory support and increasing adoption among users.
Access PDF Sample Report (Including Graphs, Charts & Figures) @
https://exactitudeconsultancy.com/reports/10583/hearing-aids-market/#request-a-sample
The Asia Pacific region is expected to witness the fastest growth rate, attributed to its aging population, increasing healthcare awareness, and government initiatives promoting access to affordable healthcare solutions. Emerging markets also present promising opportunities, particularly in medical tourism, which is fostering demand for cost-effective hearing aids and cochlear implants.
Despite the positive outlook, challenges such as high device costs and a shortage of skilled audiologists continue to hinder widespread adoption. Leading players in the industry, including Sonova Group, Demant A/S, Cochlear Ltd., and GN Store Nord A/S, are working on strategies to address these hurdles, focusing on innovation, cost-efficiency, and training programs.
Additional Leads Driving Market Dynamics:
- Integration of remote monitoring and tele-audiology services is enabling access to hearing solutions in remote areas, significantly widening the market reach.
- Rising adoption of implantable hearing solutions, such as cochlear implants, for severe hearing loss cases is expected to bolster market growth.
- Public awareness campaigns promoting early diagnosis and treatment of hearing loss are creating a larger user base for hearing aids and assistive devices.
With technological advancements and increasing accessibility, the hearing loss solutions market is set to cater to a broader demographic, ensuring improved quality of life for individuals with hearing impairments.
Hearing Aids Market Dynamics
Driver: Technological Advancements in Hearing Aids
The increasing demand for advanced hearing aids stems from their enhanced features, such as superior sound quality, improved noise reduction, and wireless connectivity. Companies are heavily investing in research and development (R&D) to create devices that offer better hearing experiences and improved efficiency. Innovations like AI-enabled hearing aids and rechargeable batteries have further fueled market growth.
Opportunity: Emerging Markets as Growth Catalysts
Emerging markets present lucrative opportunities due to competitive healthcare costs, including ENT procedures like cochlear implant surgeries. The growth of the medical tourism sector, supported by improved healthcare infrastructure and rising healthcare expenditure in developing countries, is expected to increase demand for hearing aids. Patients from developed regions seeking cost-effective treatment options contribute significantly to this trend.
Restraint: High Costs of Hearing Aids
The development of technologically advanced hearing aids involves extensive R&D, increasing production costs and ultimately the price for consumers. High maintenance costs and expensive associated surgical procedures, such as cochlear implantation, further restrict adoption, especially among cost-sensitive patients in low- and middle-income countries.
Challenge: Shortage of Trained Professionals
A critical challenge for the hearing aids market is the shortage of skilled professionals, particularly ENT surgeons, in underdeveloped and developing countries. The lack of trained specialists limits the number of procedures like cochlear implantation, reducing accessibility despite a large target population. Addressing this challenge is vital for expanding the market’s reach and meeting the rising demand for hearing aids globally.
Hearing Aid Devices Poised to Lead Market Growth
The hearing aid devices segment is projected to dominate the hearing aids market, driven by significant technological advancements. Companies are actively investing in R&D to launch innovative devices featuring advanced sound amplification, noise reduction, and connectivity solutions. Despite this progress, limited reimbursement policies for hearing aid devices remain a significant challenge, potentially impeding widespread adoption.
Sensorineural Hearing Loss Segment to Maintain Leadership
Sensorineural hearing loss (SNHL), predominantly affecting the elderly, is expected to retain its leading position in the hearing aids industry. The high prevalence of SNHL, coupled with the expanding geriatric population, underscores the demand for effective hearing solutions. Hearing aids play a critical role in managing mild-to-moderate SNHL, while patients with severe cases are increasingly turning to cochlear implants for improved auditory outcomes.
Adult Patients Drive Hearing Aids Industry Demand
Adults constitute a significant portion of the patient base in the hearing aids market, primarily due to their higher susceptibility to hearing loss. As hearing aids remain the primary treatment for hearing disorders in this population, the growing adult demographic ensures consistent demand for innovative and efficient devices.
Additional Market Insights and Opportunities:
- Expansion in Emerging Markets:
The growing prevalence of hearing loss in developing regions and rising healthcare accessibility present untapped opportunities for market players. Investments in cost-effective, feature-rich devices tailored for price-sensitive markets could further boost adoption. - Integration of AI and IoT:
The integration of artificial intelligence (AI) and Internet of Things (IoT) technologies in hearing aids is transforming the user experience by offering personalized sound settings and enhanced connectivity with smart devices. - Focus on Pediatric Care:
Although adults dominate the market, increased focus on pediatric hearing loss solutions offers potential growth. Addressing hearing impairments early can significantly enhance quality of life and educational outcomes.
Report Link Click Here: https://exactitudeconsultancy.com/reports/10583/hearing-aids-market/
Asia-Pacific Region to Witness the Fastest Growth in the Hearing Aids Market
The Asia-Pacific (APAC) hearing aids industry is forecasted to grow at the highest compound annual growth rate (CAGR) during the projected period. As growth in developed regions like North America and Europe moderates, emerging markets in APAC are becoming pivotal to global industry expansion. Key factors driving this growth include advancements in healthcare infrastructure, increasing awareness of hearing health, and a growing aging population.
Manufacturers are focusing on introducing advanced hearing aid technologies tailored to the unique needs of the APAC region. Efforts to deliver cost-effective yet sophisticated solutions are aimed at ensuring sustainable revenue growth. With increasing investments in R&D and regional partnerships, APAC is becoming a significant hub for the hearing aids market.
Additional Leads and Opportunities in the Region:
- Government Support for Hearing Health:
Many APAC countries, including China, India, and Japan, are introducing healthcare policies to improve accessibility to hearing aids, providing subsidies and support for the geriatric population. - Rising Medical Tourism:
The affordability of hearing-related surgical procedures and hearing aid devices, coupled with advanced care facilities, is attracting international patients to the region, boosting market demand. - Technological Integration:
APAC is witnessing a surge in the adoption of digital and AI-integrated hearing aids. Innovations like remote sound tuning and smartphone connectivity are enhancing consumer experience and driving market penetration. - Focus on Untapped Markets:
Rapid urbanization and improving economic conditions in emerging economies like Vietnam, Indonesia, and the Philippines present significant growth opportunities for manufacturers and distributors. - Expansion of Pediatric Hearing Solutions:
The growing recognition of pediatric hearing loss and its impact on development has led to an increased focus on child-centric hearing aids and early intervention programs in the region.
Key Players:
- Sonova Group (Switzerland)
- Demant A/S (Denmark)
- Audina Hearing Instruments, Inc. (US)
- SeboTek Hearing Systems, LLC. (US)
- Arphi Electronics Private Limited (India)
- IN4 Technology Corporation (China)
- BHM-Tech Produktionsgesellschaft mbH (Austria)
- Nano Hearing Aids (US)
- LORECa s.r.o. (Turkey)
- Earlens Corporation (US)
- Austar Hearing Science and Technology (Xiamen) Co., Ltd. (China)
- GN Store Nord A/S (Denmark)
- Cochlear Ltd. (Australia)
- RION Co., Ltd. (Japan)
- Starkey (US)
- Nurotron Biotechnology Co., Ltd. (China)
- MED-EL (Austria)
- Elkon Pvt. Ltd. (India)
- WS Audiology A/S (Denmark)
- Eargo, Inc. (US)
- Horentek (Italy)
- ZOUNDS Hearing Inc. (US)
- Lively Hearing Corporation (US)
- Audifon GmbH & Co. KG (Germany)
- Foshan Vohom Technology Co., Ltd. (China)
Market Segments:
By Product
- Hearing Aid Devices
- Receiver-in-the-ear Hearing Aids
- Behind-the-ear Hearing Aids
- Canal Hearing Aids
- In-the-ear Hearing Aids
- Other Hearing Aid Devices
- Hearing Implants
- Cochlear Implants
- Bone-anchored Systems
By Patient Type
By Type of Hearing Loss
- Sensorineural Hearing Loss
- Conductive Hearing Loss
By Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
Recent Developments of Hearing Aids Industry
- In August 2024, Sonova launched two advanced hearing aid platforms: the Phonak Audéo Sphere™ Infinio and Phonak Audéo Infinio. These products incorporate real-time AI technology that significantly improves speech understanding in noisy environments, addressing a critical need for people with hearing loss. This marks a major innovation in the hearing aid industry.
- In May 2024, Jabra Enhance launched the smallest over-the-counter hearing aid yet, the Enhance Select 500. This model features advanced Bluetooth connectivity, including Bluetooth LE Audio and future-ready Auracast™ for live audio streaming in public spaces. The hearing aid is designed to provide superior sound quality and comfort.
- In June 2024, Cochlear Ltd. received approval for its new cochlear implant systems, including the Nucleus® 7 Sound Processor, aimed at improving the hearing experience for severe hearing loss patients. These innovations are designed to enhance speech clarity and support advanced communication features.
- In April 2024, Eargo introduced its next-generation wireless hearing aids with real-time sound adjustments for various environments. This model aims to provide a more personalized experience for users with mild to moderate hearing loss.
- Starkey, in collaboration with OrCam Technologies, unveiled new features for their Livio Edge AI hearing aids in March 2024. These improvements allow the integration of machine learning to provide enhanced user experiences, such as better sound clarity in complex auditory environments.
Get a Sample PDF Brochure: https://exactitudeconsultancy.com/reports/10583/hearing-aids-market/#request-a-sample
Related Reports:
Spine Surgery Market
https://exactitudeconsultancy.com/reports/687/spine-surgery-market/
The Global Spine Surgery market is expected to grow at 3.8% CAGR from 2019 to 2028. It is expected to reach above USD 52.5 billion by 2028 from USD 38.5 billion in 2019.
Ashwagandha Extracts Market
https://exactitudeconsultancy.com/reports/926/ashwagandha-extracts-market/
The Global Ashwagandha Extracts Market share is expected to grow at more than 36.8% CAGR from 2019 to 2028. It is expected to reach above USD 3.2 billion by 2028 from a little above USD 128 million in 2019.
Medical Aesthetics Market
https://exactitudeconsultancy.com/reports/1197/aesthetic-medicine-market/
The global medical aesthetics market is projected to reach USD 15.8 billion by 2028 from USD 9.2 billion in 2020, at a CAGR of 10.83%.
Heart Pump Device Market
https://exactitudeconsultancy.com/reports/1173/heart-pump-device-market/
The Global Heart Pump Device Market is expected to grow at more than 21% CAGR from 2020 to 2028. It is expected to reach above USD 7 billion by 2028 from a little above USD 1.6 billion in 2020.
Wearable Injectors Market
https://exactitudeconsultancy.com/reports/1132/wearable-injectors-market/
The global wearable injectors market is expected to grow at more than 8.3% CAGR from 2019 to 2028. It is expected to reach above USD 13.8 billion by 2028 from a little above USD 6.7 billion in 2019.
Automated External Defibrillator (AED) Market
https://exactitudeconsultancy.com/reports/670/automated-external-defibrillators-aeds-market/
The global Automated External Defibrillators (AEDs) Market is expected to grow at more than 8% CAGR from 2021 to 2026. It is expected to reach above USD 1.4 billion by 2026 from a little above USD 1.1 billion in 2020.
Endoscopy Equipment Market
https://exactitudeconsultancy.com/reports/1116/endoscopy-equipment-market/
The Global Endoscopy Equipment Market is expected to grow at 7.6% CAGR from 2019 to 2028. It is expected to reach above USD 44.93 billion by 2028 from USD 23.53 billion in 2019.
Infusion Pump Market
https://exactitudeconsultancy.com/reports/1224/infusion-pumps-market/
The global infusion pump market is anticipated to grow from USD 9.4 billion in 2020 to USD 18.6 billion by 2029, at a CAGR of 8.1 % during the forecast period.
Aspiration & Biopsy Needles Market
https://exactitudeconsultancy.com/reports/1400/aspiration-biopsy-needles-market/
The Global Aspiration & Biopsy Needles Market is expected to grow at more than 6.9% CAGR from 2019 to 2028. It is expected to reach above USD 1,699 million by 2028 from a little above USD 932 million in 2019.
Surface Disinfectant Market
https://exactitudeconsultancy.com/reports/1199/surface-disinfectant-market/
The Global Surface Disinfectant Market is expected to grow at 8.5% CAGR from 2019 to 2028. It is expected to reach above USD 4.72 million by 2028 from USD 2.31 million in 2019.
Respiratory Care Devices Market
https://exactitudeconsultancy.com/reports/1315/respiratory-care-devices-market/
The Global Respiratory Care Devices Market Is Expected to Grow At 8.50% CAGR from 2019 To 2028. It Is Expected to Reach Above USD 32.5 Billion By 2028 From USD 15.6 Billion In 2019.
Active Wheelchair Market
https://exactitudeconsultancy.com/reports/789/north-america-active-wheelchair-market/
The North America Active Wheelchair Market is expected to grow at more than 7.7% CAGR from 2019 to 2028. It is expected to reach above USD 970 million by 2028 from a little above USD 502 million in 2019.
Irfan Tamboli (Head of Sales) Phone: + 1704 266 3234 Email: sales@exactitudeconsultancy.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Alibaba Q2 Earnings: Revenue Beats Forecast, Cloud and International Sales Shine, Free Cash Flow Falls Amid Strategic Investments
Alibaba Group Holding Limited BABA stock is trading higher Friday after the company’s fiscal second-quarter print.
The Jack Ma co-founded e-commerce giant reported fiscal second-quarter 2024 revenue growth of 5% year-on-year to $33.70 billion, beating the analyst consensus estimate of $33.47 billion. Adjusted earnings per ADS of $2.15 missed the analyst consensus estimate of $2.26.
Adjusted net income declined 9% Y/Y to $5.20 billion.
Also Read: Bilibili’s Q3 Earnings: Revenue Surges As Games Lead the Way, Stock Buyback And More
Segments: Taobao and Tmall Group revenue grew by 1% year over year to $14.11 billion. Alibaba International Digital Commerce Group revenue increased by 29% year over year to $4.51 billion, driven by the growth of cross-border businesses, in particular AliExpress’s Choice business.
Local Services Group revenue grew by 14% year over year to $2.53 billion, driven by the order growth of both Amap and Ele.me and revenue growth from marketing services.
Cainiao Smart Logistics Network Limited’s revenue increased 8% year over year to $3.51 billion, driven by an increase in revenue from cross-border fulfillment solutions.
Cloud Intelligence Group revenue grew by 7% Y/Y to $4.22 billion. Digital Media and Entertainment Group fell by 1% Y/Y to $811 million. All other revenue grew by 9% Y/Y at $7.44 billion.
In the Taobao and Tmall Group, customer management revenue grew 2% year over year due to the growth in online GMV.
Revenue from China’s commerce retail business remained firm year over year at $13.25 billion, while direct sales and other revenue declined by 5% year over year to $3.23 billion, primarily due to the decrease in appliance sales.
Revenue from China’s commerce wholesale business grew by 18% year over year to $853 million due to the increase in revenue from value-added services provided to paying members.
Alibaba International Digital Commerce Group: International commerce retail business revenue grew by 35% Y/Y to $3.65 billion, primarily driven by the increase in revenue contributed by AliExpress’ Choice and Trendyol.
International commerce wholesale business revenue grew by 9% Y/Y to $863 million.
Cloud Intelligence Group: Overall revenue, excluding Alibaba-consolidated subsidiaries, increased by 7% Y/Y, which was mainly driven by the double-digit revenue growth of public cloud products, including AI-related products.
As of September 30, 2024, Alibaba held $79 billion in cash and equivalents. It generated an operating cash flow of $4.48 billion, down 38% year over year.
During the quarter, it generated a free cash flow of $1.96 billion, down 70% year over year due to investments in Alibaba Cloud infrastructure, refunds to Tmall merchants and other working capital changes related to factors including the scale-down of certain direct sales businesses.
Alibaba Group CEO Eddie Wu noted strong performance in the Cloud segment, with public cloud product revenue seeing double-digit growth and AI-related offerings delivering triple-digit gains. He expressed increased confidence in Alibaba’s core businesses and plans to continue investing for sustained long-term growth.
Wu also pointed out improved operating efficiency across other segments, with many achieving higher profitability or narrowing losses.
Alibaba CFO Toby Xu attributed the quarter’s revenue growth to better monetization of the Taobao and Tmall platforms, including increased adoption of GMV-based service fees and the marketing tool Quanzhantui.
Xu stated that Alibaba repurchased $4.1 billion worth of shares during the quarter, reducing the total shares outstanding by 2.1% since the end of June, which contributed to increased earnings per share for shareholders.
Price Action: BABA shares traded higher by 3.80% at $94.02 premarket at the last check on Friday.
Also Read:
Photo Via Shutterstock
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Disney To Rally Around 20%? Here Are 10 Top Analyst Forecasts For Friday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
- Goldman Sachs boosted the price target for Tarsus Pharmaceuticals, Inc. TARS from $36 to $41. Goldman Sachs analyst Andrea Tan maintained a Neutral rating. Tarsus Pharmaceuticals shares closed at $46.65 on Thursday. See how other analysts view this stock.
- Deutsche Bank boosted the price target for The Walt Disney Company DIS from $115 to $131. Deutsche Bank analyst Bryan Kraft maintained a Buy rating. Disney shares closed at $109.12 on Wednesday. See how other analysts view this stock.
- Needham raised Agilysys, Inc. AGYS price target from $125 to $145. Needham analyst Mayank Tandon maintained a Buy rating. Agilysys shares settled at $120.84 on Wednesday. See how other analysts view this stock.
- Needham cut Applied Materials, Inc. AMAT price target from $240 to $225. Needham analyst Charles Shi maintained a Buy rating. Applied Materials shares closed at $186.00 on Thursday. See how other analysts view this stock.
- Piper Sandler boosted Mastercard Incorporated MA price target from $565 to $575. Piper Sandler analyst Arvind Ramnani maintained an Overweight rating. Mastercard shares closed at $520.40 on Thursday. See how other analysts view this stock.
- Benchmark boosted Tower Semiconductor Ltd. TSEM price target from $55 to $60. Benchmark analyst Cody Acree maintained a Buy rating. Tower Semiconductor shares closed at $46.30 on Thursday. See how other analysts view this stock.
- Morgan Stanley cut the price target for SolarEdge Technologies, Inc. SEDG from $23 to $9. Morgan Stanley analyst Andrew Percoco downgraded the stock from Equal-Weight to Underweight. SolarEdge shares settled at $12.83 on Thursday. See how other analysts view this stock.
- Baird boosted Biogen Inc. BIIB price target from $294 to $300. Baird analyst Brian Skorney maintained an Outperform rating. Biogen shares closed at $164.89 on Thursday. See how other analysts view this stock.
- Baird raised the price target for Palo Alto Networks, Inc. PANW from $385 to $425. Baird analyst Shrenik Kothari maintained an Outperform rating. Palo Alto shares closed at $394.39 on Thursday. See how other analysts view this stock.
- HC Wainwright & Co. cut Genelux Corporation GNLX price target from $32 to $30. HC Wainwright & Co. analyst Emily Bodnar maintained a Buy rating. Genelux shares closed at $2.94 on Thursday. See how other analysts view this stock.
Considering buying DIS stock? Here’s what analysts think:
Read More:
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Why Is TheStreet Parent Arena Group Stock Rocketing Premarket Friday?
The Arena Group Holdings, Inc. AREN shares jumped premarket on Friday after the company delivered the first quarter of positive net income.
Arena, which is home to hundreds of media brands, including TheStreet, Parade Media, Men’s Journal, Surfer, Powder and Athlon Sports, reported a net income of $4.0 million, or EPS of $0.11, in the third quarter of 2024, compared to a net loss of $11.2 million, or EPS loss of $0.47 per share a year ago quarter.
Adjusted EBITDA stood at $11.2 million compared to $3.1 million a year ago quarter. Revenue from continuing operations came in at $33.6 million, vs. $37.0 million a year ago quarter.
The company reduced quarterly operating expenses by 51% year-over-year, achieving a $13.6 million positive swing in quarterly income from continuing operations. This highlights the rapid effectiveness of its transformation plan.
The Arena Group CEO Sara Silverstein said, “We’re achieving meaningful revenue diversification, including a significant increase in e-commerce and other revenue, enabling a substantial improvement in profitability. We generated higher gross margins, returned to positive operating income, and delivered our first-ever quarter of positive net income.”
Arena’s affiliate commerce business grew 287% during the six months, driven by strong organic traffic to commerce posts and stronger partnerships with retailers who value its highly transactional audience.
The company expanded its commerce coverage while increasing revenue per post by 57% in the third quarter versus second quarter of 2024.
Arena finalized a deal to license its proprietary content management system, which also included the acquisition of multiple sites, notably the top-tier automotive platform Autoblog.
Additionally, Arena extended the maturity of its credit line with Simplify Inventions, LLC, and converted $15 million of debt into common equity.
Price Action: AREN shares are up 210% at $1.76 premarket at the last check Friday.
Photo via 761409 from Pixabay
Read Next:
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Canada Life Investment Management Ltd. announces proposed mutual fund mergers
LONDON, ON, Nov. 15, 2024 /CNW/ – Canada Life Investment Management Ltd. (CLIML), today announced its proposal to merge three mutual funds in its Counsel Portfolios lineup, subject to unitholder approval.
Fund Mergers
CLIML is proposing the following fund mergers:
|
Terminating Fund |
Continuing Fund |
|
Counsel Retirement Preservation Portfolio |
Counsel Conservative Portfolio |
|
Counsel Retirement Foundation Portfolio |
Counsel Balanced Portfolio |
|
Counsel Retirement Accumulation Portfolio |
Counsel Growth Portfolio |
Terminating Fund investors of record as of Dec. 5, 2024 will receive a notice of meeting of investors to be held on or about Jan. 22, 2025. If approved, the mergers are expected to be executed on or about January 31, 2025.
About Canada Life Investment Management Ltd.
Canada Life Investment Management Ltd. (CLIML) is an investment management firm offering wealth management products and services for individuals, families and business owners. The funds are sub-advised by leading asset managers, providing access to specialized investment expertise from around the world. CLIML is a subsidiary of The Canada Life Assurance Company. Learn more.
SOURCE Canada Life Investment Management Ltd. (CLIML)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/15/c7911.html
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
US Stocks Likely To Open In Red After Jerome Powell Says No Need To Be 'In A Hurry' On Rate Cuts: Tesla, TSMC And Domino's In Focus
U.S. stocks could open on a negative note on Friday after the Federal Reserve chair Jerome Powell’s comments on Thursday that the economy is showing enough strength that there is no need to be “in a hurry” on further rate cuts just yet.
Futures of all three major indices were down as investors processed crucial inflation and economic data released over the week.
“The economy is not sending any signals that we need to be in a hurry to lower rates. The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully,” Powell said, maintaining a wait-and-watch approach for the time being.
For now, the post-election rally in the equity markets seems to be slowing down as investors hedge their bets while booking some profits at the same time.
| Futures | Change (+/-) |
| Nasdaq 100 | -0.89% |
| S&P 500 | -0.63% |
| Dow Jones | -0.43% |
| R2K | -0.29% |
In premarket trading on Friday, the SPDR S&P 500 ETF Trust SPY edged lower by 0.53% to $590.22 and the Invesco QQQ ETF QQQ declined 0.80% to $504.63, according to Benzinga Pro data.
Cues From Last Session:
U.S. stocks ended Thursday in the red, with the tech-heavy Nasdaq falling the most.
Crude oil prices remained under the $70 mark, easing further on Friday due to fears of a slowdown in China resulting in lower demand.
Treasury yields edged up again as investors digested Powell’s comments on the economy as well as rate cuts in the near future.
On the economic data front, U.S. initial jobless claims declined by 4,000 from the previous week to 217,000 in the week ending Nov. 9, compared to market estimates of 223,000.
The U.S. producer prices rose 0.2% month-over-month in October compared to a revised 0.1% gain in September, which is in line with market expectations.
Most sectors on the S&P 500 closed on a negative note, with consumer discretionary, industrials, and healthcare stocks recording the biggest losses on Thursday.
However, information technology and energy stocks bucked the overall market trend, closing the session higher.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -0.64% | 19,107.65 |
| S&P 500 | -0.60% | 5,949.17 |
| Dow Jones | -0.47% | 43,750.86 |
| Russell 2000 | -1.37% | 2,336.94 |
Insights From Analysts:
Powell’s relatively hawkish tone has investors cautious in the markets, noted ING analyst Francesco Pesole.
This could result in a correction for the dollar, which is “testing the limit” of its longs, Pesole noted, adding that traders should exercise caution for the time being.
“Powell seemed to put greater emphasis on the strength of the economy and how that allows the central bank to approach the upcoming policy decisions ‘carefully’.”
CME Group’s FedWatch tool reflected the fall in sentiment for another rate cut next month, with its probability declining to 62.1% from 72.2%.
Investors will also keep an eye on the retail sales data that is set to be released later today.
However, Sonu Varghese, global macro strategist at Carson Group, downplayed fears of a rebound in inflation, stating that there are “disinflationary trends” that will “likely keep a lid” on a rise in prices.
On the equity front, Varghese maintained his bullish outlook.
“Overall, economic strengths clearly outweigh areas of weakness, and the opportunities likely have a higher probability of coming to fruition than the threats. The balance favors continued strength for equities, which is why we’re maintaining our overweight to stocks, especially US stocks.”
See Also: How To Trade Futures
Upcoming Economic Data
Friday’s major economic updates include:
- Import Price Index, which will be released at 8:30 a.m. ET.
- Retail sales data, which will be released at 8:30 a.m. ET
Stocks In Focus:
- Tesla Inc. TSLA stock will be in focus today after reports emerged that President-elect Donald Trump is likely to end the $7,500 tax credit. Tesla shares fell 5.8% on Thursday.
- Taiwan Semiconductor Manufacturing Co. TSM shares were up 0.4% in premarket trading after the U.S. government finalized a $6.6 billion subsidy for the chipmaker under the CHIPS Act.
- Domino’s Pizza Inc. DPZ shares surged over 7% in premarket trading after Warren Buffett-led Berkshire Hathaway picked up a small stake in the company.
- Pfizer Inc. PFE, Moderna Inc. MRNA, and Novavax Inc. NVAX stocks fell after Trump appointed Robert F. Kennedy Jr. as the head of the Department of Health and Human Services.
- Palantir Technologies Inc. PLTR announced it will switch from the New York Stock Exchange to the Nasdaq on Nov. 26.
- Investors are awaiting earnings results from Alibaba Group Holding Limited BABA, Spectrum Brands Holdings, Inc. SPB, and RLX Technology Inc. RLX today.
Commodities, Bonds And Global Equity Markets:
Crude oil futures fell in the early New York session, declining by 1.11% to hover around $67.94 per barrel.
The 10-year Treasury note yield edged up about to 4.43%.
Most of the major Asian markets were mixed on Friday, but European markets were marginally in the green in early trading.
Read Next:
Photo courtesy: Wikimedia
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.