As the annual JP Morgan Healthcare Conference approaches, the medtech industry is abuzz with expectations of corporate news and financial updates from several companies. Medtech firms are gearing up to make presentations at the JPM Conference in San Francisco, and analysts are predicting a slew of significant announcements.
Companies Expected to Make Presentations
According to a recent note by Canaccord Genuity, ten companies in the diagnostics and tools space are expected to make presentations during the event. The list includes 10x Genomics, Exact Sciences, Guardant Health, Illumina, Natera, Pacific Biosciences, NanoString Technologies, Akoya Biosciences, and Quanterix.
Among these companies, Akoya, Exact Sciences, NanoString, and Pacific Biosciences are anticipated to preannounce preliminary Q4 2023 financial results. Although Quanterix, Illumina, and Guardant are also viewed as possibilities for preannouncements, it is unlikely that 10x Genomics and Natera will follow suit, as per Canaccord’s assessment.
Canaccord does not anticipate these companies to roll out 2024 guidance during the conference. The investment firm also does not expect details on Illumina’s recent COO departure or Grail divestiture, but it foresees at least one significant non-results development from Akoya.
Possible Updates from Specific Companies
In addition to the aforementioned companies, Canaccord highlighted several others that could potentially issue updates during the JPM Conference. These companies include Biodesix, Castle Biosciences, Exagen, Lucid Diagnostics, Olink, SomaLogic, and Quantum-Si.
Forecasts by Needham
Needham, another financial services firm, expects at least 13 of the 45 companies it covers in the medtech and diagnostics space to pre-announce preliminary Q4 earnings by mid-January. Notable companies on this list include Alphatec, Hologic, Inogen, Masimo, and STAAR Surgical, among others.
Further, Needham believes that Alphatec and Hologic shares are positioned to overperform during the conference season, while Masimo shares are likely to underperform due to their Q4 preannouncements and 2024 guidance.
Key Topics of Discussion
For Alphatec, the focus is expected to be on competitive rep hires, the durability of PTP’s strength, and the company’s ability to continue improving profitability as it moves into 2024. Hologic’s updates on its Breast Health business, diagnostic growth drivers, and utilization of cash are anticipated to be key discussion topics.
As for Masimo, any updates on new consumer health product launches, sensor delays, and the company’s ability to increase margins are likely to be closely monitored. On a broader level, macro topics such as inflation, supply chains, healthcare staffing, and economic outlook are expected to dominate conference discussions.
