Veeva Systems Inc. VEEV recently announced Veeva Vault Study Training – a new app that combines research sites, clinical research organizations (CROs), and sponsors into a single platform for end-to-end clinical study training. This new application brings together learning management and clinical operations for integrated, automated training and real-time inspection readiness.
This app leverages Veeva Systems’ expertise in working with more than 450 companies using Veeva Vault Clinical Suite apps and lessons learned from hundreds of Veeva Vault Training implementations. Life science companies recognize the long-standing industry hurdle of training survey personnel and site personnel efficiently and compliantly.
It’s worth mentioning that the Vault study training will be available for early adopters in the fall of 2022.
This announcement is likely to give further impetus to the company’s already strong product portfolio and also increase product adoption.
Importance of Vault Study Training App
According to Veeva Systems management, as education continues to evolve and experience new levels of complexity, companies need a simple, integrated training system that can meet the demands of testing.
Veeva Systems’ complete, connected solution will help life sciences companies support current core clinical data and content to eliminate issues such as redundant information, manual data entry, and siled processes.
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Vault Study Training automates assignment distribution, protocol change management, and training certificate filing for greater efficiency and reduced end-of-study reconciliation.
According to a report by Grand View Research, the global clinical trials market was worth $47 billion in 2021 and is expected to grow at a CAGR of 5.8% from 2022 to 2030. Therefore, the announcement is timely for Veeva Systems.
In May, Veeva Systems announced that more than 150 global enterprises and fast-growing companies were accelerating their clinical trial operations with the adoption of Veeva Vault CTMS. With the latest enhancements to Vault CTMS, Veeva Systems continues to deliver innovations that can solve critical testing challenges.
Again in the same month, Veeva Systems’ Veeva Vault CDMS was selected by Lucid Diagnostics to offer electronic data capture coding and data cleaning in the latter’s upcoming study for EsoGuard. in patients undergoing screening and standard management for Barrett’s disease. esophagus or esophageal adenocarcinoma.
In April, Veeva Systems extended its partnership with LEO Pharma to facilitate meaningful discussions with the scientific community using Veeva Link for Key People, which is a real-time intelligence application from the Veeva Link family of data products.
Shares of the company Zacks Rank #3 (Hold) lost 35.1% in one year, against a decline of 57.4% in the sector.
Actions to consider
Some top-ranked actions in the broader medical field are AMN Healthcare Services, Inc. AMN, Masimo Company MASI and Patterson Companies, Inc. OFSP.
AMN Healthcare has exceeded earnings estimates in each of the past four quarters, with the average surprise being 15.6%. The company currently sports a Zacks Rank #2 (Buy). You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare’s long-term earnings growth rate is estimated at 1.1%. The company’s earnings return of 11.4% compares favorably to that of the industry (0.8%).
Masimo has exceeded earnings estimates in each of the past four quarters, with the average surprise being 4.4%. The company currently carries a Zacks Rank #2.
Masimo’s estimated earnings growth rate for the second quarter of 2022 is set at 22.3%. The company’s earnings yield is 3.8% compared to the industry (8.5%).
Patterson Companies has exceeded earnings estimates in three of the last four quarters and missed once, with the average surprise being 2.7%. The company currently carries a Zacks Rank #2.
Patterson Companies’ long-term earnings growth rate is estimated at 9.9%. The company’s earnings return of 7.1% compares favorably to the industry’s 4.2%.
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