Philips (PHG) Extends Isala Partnership, Boosts Customer Base

Philips PHG recently announced the renewal of its long-standing partnership with Isala hospital in a bid to enhance healthcare delivery through innovative, cost-effective solutions.Per the terms, Isala hospital will use Philips' technology to optimize healthcare processes and deliver patient-centered, accessible, affordable, and cost-effective care. The hospital will also replace medical systems like MRI and CT scanners with Philips' essential imaging systems and support services, ensuring continuous updates and sustainability.The latest partnership has added strength to Philips’ customer base.Koninklijke Philips N.V. Price and Consensus Koninklijke Philips N.V. price-consensus-chart | Koninklijke Philips N.V. QuoteExpanding Customer BasePhilips’ shares have gained 26.4% in the year-to-date period, outperforming the industry’s growth of 6.2%. The company is benefiting from a strengthening clientele on the back of its strong portfolio.Philips entered into a 10-year strategic collaboration with Nicklaus Children's Health System. Nicklaus will use Philips technologies like Ingenia Ambition X MR and EPIQ CVx ultrasound, AI-enabled radiology workflow solutions, and patient experience technologies to improve patient and staff experience, outcomes, and innovation in pediatric care.Philips expanded its clientele with the Bon Secours Mercy Health (BSMH) partnership. Per the terms, BSMH will utilize Philips’ scalable patient monitoring platform, standardizing data integration for 49 hospitals, reducing costs and enabling reinvestment in innovation.Moreover, 14 major hospitals across Madrid, Barcelona, Bilbao, Alicante, Madrid, Cadiz, and Navarra are using Philips’ ambulatory cardiac monitoring service to detect post-discharge Atrial Fibrillation (AF), monitor patients for AF after cardiac ablation or heart valve replacement, and study the link between magnesium insufficiency and AF.Philips also signed a technology agreement with Dutch Franciscus Gasthuis & Vlietland hospital to develop a future-proof operating suite and intervention center. As part of the deal, PHG will offer its next-generation image-guided therapy platform, Azurion, to the intervention center, further strengthening its position as a leader in image-guided treatments.Portfolio Strength: Key CatalystPhilips is making concerted efforts to bolster its portfolio in order to gain further customer momentum.The company introduced Philips Image Guided Therapy Mobile C-arm System 9000 and Zenition 90 Motorized, enhancing clinicians' productivity with automated workflows like Touch Screen Module and meeting complex vascular needs.Philips launched an AI-enabled cardiovascular ultrasound platform with FDA 510(k) clearance, boosting its Precision Diagnosis portfolio. The platform combines Philips’ EPIQ CVx and Affiniti CVx ultrasound systems, enhancing cardiac ultrasound analysis speed and reducing echocardiography lab workload.PHG also unveiled HealthSuite Imaging, an AI-enabled cloud-based Picture Archiving and Communication System, which offers high-speed remote diagnostic reading, integrated reporting and AI-powered workflow orchestration, enhancing operational efficiency and patient care.A strong portfolio, coupled with an expanding clientele, is expected to continue driving Philips’ financial performance in the upcoming period.For 2024, Philips expects to deliver 3-5% of comparable sales growth.The Zacks Consensus Estimate for 2024 revenues is pegged at $19.99 billion, implying year-over-year growth of 1.7%.The consensus mark for 2024 earnings is pegged at $1.50 per share, indicating an 11.1% rise from the year-ago figure. The figure has remained unchanged in the past 30 days.Zacks Rank & Stocks to ConsiderCurrently, Philips carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical market sector are Alcon ALC, Quest Diagnostics DGX and Eli Lilly LLY. Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Alcon shares have gained 36.2% in the year-to-date period. ALC’s long-term earnings growth rate is currently projected at 14.58%.Quest Diagnostics shares have gained 13% in the year-to-date period. DGX’s long-term earnings growth rate is currently projected at 6.18%.Eli Lilly shares have rallied 28.2% in the year-to-date period. The long-term earnings growth rate for LLY is currently projected at 32.99%.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Koninklijke Philips N.V. (PHG): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report Alcon (ALC): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks