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Stryker's (SYK) Q Guidance System Receives FDA Approval
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Stryker Corporation (SYK - Free Report) recently received the FDA’s 510(k) clearance for its Q Guidance System. The Spine Guidance Software is the first spine navigation software approved by the FDA for use in pediatric patients aged 13 years and above.
It is worth mentioning that the Q Guidance System, when used with the Spine Guidance Software, is an advanced planning and intraoperative guidance system created to aid open or percutaneous computer-assisted surgery.
The latest regulatory clearance is expected to significantly solidify Stryker’s foothold in the global Orthopaedics and Spine space.
Significance of the Approval
Stryker’s Q Guidance System is expected to deliver surgical spine planning and navigation capability via multiple tracking options, sophisticated software algorithms and smart instrumentation. The Q Guidance System has been designed in such a way that when used with Airo TruCT mobile CT scanner, this ecosystem can deliver automatic image registration. It can also pair high-performance tracking capabilities with advanced intraoperative image quality and scan volume.
Per management, the adaptability of the Q Guidance System is expected to aid the company in simplifying its technologies throughout multiple specialties like cranial, spine, ENT and orthopaedics. Management also believes that the system has been intended for future compatibility with a fully integrated ecosystem, driving more value for Stryker’s customers.
Industry Prospects
Per a report by MarketsandMarkets, the global intraoperative imaging market size is anticipated to reach $2.5 billion by 2025 from $1.9 billion in 2020 at a CAGR of 5.2%. Factors like technological advancements and increasing incidences of surgeries are expected to drive the market.
Given the market potential, the latest FDA approval is likely to provide a significant boost to Stryker’s business globally.
Notable Developments
In April, Stryker reported its first-quarter 2022 results, wherein it recorded robust uptick in net sales both on a reported and on an organic basis. It also registered solid segmental growth.
In February, Stryker completed the previously announced acquisition of Vocera Communications, Inc., which is expected to enhance its Advanced Digital Healthcare offerings and further advance its focus on preventing adverse events throughout the continuum of care.
Price Performance
Shares of Stryker have lost 6.5% in the past year compared with the industry’s 22.1% fall and the S&P 500's 2.6% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Stryker carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and Masimo Corporation (MASI - Free Report) .
AMN Healthcare, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
AMN Healthcare has gained 5.1% against the industry’s 64.2% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.9%. PDCO’s earnings surpassed estimates in three of the trailing four quarters and missed the same in the other, the average beat being 2.7%.
Patterson Companies has lost 5.7% compared with the industry’s 2.7% fall over the past year.
Masimo, carrying a Zacks Rank #2 at present, has an earnings yield of 3.3% against the industry’s negative yield. MASI’s earnings surpassed estimates in the trailing four quarters, the average beat being 4.4%.
Masimo has lost 33.2% compared with the industry’s 13.5% fall over the past year.
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Stryker's (SYK) Q Guidance System Receives FDA Approval
Stryker Corporation (SYK - Free Report) recently received the FDA’s 510(k) clearance for its Q Guidance System. The Spine Guidance Software is the first spine navigation software approved by the FDA for use in pediatric patients aged 13 years and above.
It is worth mentioning that the Q Guidance System, when used with the Spine Guidance Software, is an advanced planning and intraoperative guidance system created to aid open or percutaneous computer-assisted surgery.
The latest regulatory clearance is expected to significantly solidify Stryker’s foothold in the global Orthopaedics and Spine space.
Significance of the Approval
Stryker’s Q Guidance System is expected to deliver surgical spine planning and navigation capability via multiple tracking options, sophisticated software algorithms and smart instrumentation. The Q Guidance System has been designed in such a way that when used with Airo TruCT mobile CT scanner, this ecosystem can deliver automatic image registration. It can also pair high-performance tracking capabilities with advanced intraoperative image quality and scan volume.
Per management, the adaptability of the Q Guidance System is expected to aid the company in simplifying its technologies throughout multiple specialties like cranial, spine, ENT and orthopaedics. Management also believes that the system has been intended for future compatibility with a fully integrated ecosystem, driving more value for Stryker’s customers.
Industry Prospects
Per a report by MarketsandMarkets, the global intraoperative imaging market size is anticipated to reach $2.5 billion by 2025 from $1.9 billion in 2020 at a CAGR of 5.2%. Factors like technological advancements and increasing incidences of surgeries are expected to drive the market.
Given the market potential, the latest FDA approval is likely to provide a significant boost to Stryker’s business globally.
Notable Developments
In April, Stryker reported its first-quarter 2022 results, wherein it recorded robust uptick in net sales both on a reported and on an organic basis. It also registered solid segmental growth.
In February, Stryker completed the previously announced acquisition of Vocera Communications, Inc., which is expected to enhance its Advanced Digital Healthcare offerings and further advance its focus on preventing adverse events throughout the continuum of care.
Price Performance
Shares of Stryker have lost 6.5% in the past year compared with the industry’s 22.1% fall and the S&P 500's 2.6% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Stryker carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Patterson Companies, Inc. (PDCO - Free Report) and Masimo Corporation (MASI - Free Report) .
AMN Healthcare, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 1.1%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.6%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 5.1% against the industry’s 64.2% fall in the past year.
Patterson Companies, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 9.9%. PDCO’s earnings surpassed estimates in three of the trailing four quarters and missed the same in the other, the average beat being 2.7%.
Patterson Companies has lost 5.7% compared with the industry’s 2.7% fall over the past year.
Masimo, carrying a Zacks Rank #2 at present, has an earnings yield of 3.3% against the industry’s negative yield. MASI’s earnings surpassed estimates in the trailing four quarters, the average beat being 4.4%.
Masimo has lost 33.2% compared with the industry’s 13.5% fall over the past year.