Yahoo Finance Ecolab (ECL) to Aid Life Sciences Industry With New Offering
Ecolab Inc. ECL recently introduced a new virtual visit offering to help the life sciences industry with respect to acknowledging cleaning and disinfection challenges. This virtual service will be able to solve production challenges in a quick and efficient manner, while increasing uptime. As a result, the company’s life sciences customers can experience better outcomes.
It is worth mentioning that in 2020, Ecolab became successful in testing virtual service delivery at pharmaceutical drug manufacturing facilities. This was done primarily to aid in optimization of their cleaning and disinfection programs.
The launch is likely to provide a boost to Ecolab’s Global Healthcare and Life Sciences segment.
Benefits of the New Offering
The introduction of this new offering will enable Ecolab to use mixed-reality tools that can help the company to bring the entire range of its global expertise to detect and troubleshoot issues and offer training to customers on a real-time basis, anywhere and at any given time.
Image Source: Zacks Investment Research
Apart from troubleshooting real-time, the company’s remote experts can also review manufacturing operations and help in addressing issues through recommendation and implementation site-specific cleaning programs. This, in turn, can aid in prevention of issues that result in downtime and related costs in productivity, labor and resources.
Market Prospects
Per a report by Grand View Research, the global augmented reality market was worth $17.67 billion in 2020 and is projected to witness a CAGR of 43.8% during the forecast period (2021-2028). Growing demand for remote assistance and partnership from enterprises that help in workflow management and optimization is anticipated to drive market growth. Hence, the launch is well-timed.
Recent Developments
In May, Ecolab launched a device developed to identify the arrival of cockroaches early and provide ongoing protection, known as the Cockroach Multi-Station. The device has been launched with the aim of enabling foodservice providers to ensure hygienic and safe operations.
Also in the same month, the company introduced Water Flow Intelligence, which is a digital service, that offers industry with real-time visibility of water usage at the enterprise, site and asset levels. The digital solution was unveiled to help companies dealing with water scarcity.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 3.4% in the past year against the industry’s decline of 15.6%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are Veeva Systems Inc. VEEV, DaVita Inc. DVA and Encompass Health Corporation EHC, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Veeva Systems’ long-term earnings growth rate is estimated at 15.8%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Encompass Health’s long-term earnings growth rate is projected at 17.3%.
Zacks 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.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want 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
Ecolab Inc. (ECL) : Free Stock Analysis Report
DaVita Inc. (DVA) : Free Stock Analysis Report
Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
Encompass Health Corporation (EHC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
