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These meaningful innovations are likely to ultimately benefit ClearPoint’s surgical customers and many new patients around the world.
Price Performance
For the past six months, CLPT shares have lost 11% against the industry’s rise of 13.3%. The S&P 500 has increased 15.9% in the same time frame.
Image Source: Zacks Investment Research
More on the Technologies
For patients with essential tremor, dystonia, and Parkinson's disease that is medically incurable, deep brain stimulation (DBS) has been shown to be a safe and successful treatment option.
The development of the SmartFrame OR is expected to be a significant step toward achieving the triple aim of achieving excellent outcomes in an accessible and appropriate clinical setting with broad patient acceptance. This is because it has the potential to enable DBS procedures to be performed in a wider range of hospitals by a greater number of skilled neurosurgeons.
The two primary components of the SmartFrame OR Stereotactic System are the ClearPointer Optical Navigation Wand and the SmartFrame OR. Preoperative MR and/or CT imaging is used in conjunction with a compatible optical stereotactic navigation system to plan and execute neurological procedures. The SmartFrame OR is designed to provide stereotactic guidance for the placement and operation of instruments or devices during this process.
The ClearPoint Prism Neuro Laser Therapy System is used to necrotize or coagulate soft tissue through interstitial irradiation or thermal therapy under 3.0T magnetic resonance imaging guidance.
The system features the only non-cooled laser applicator on the market. ClearPoint’s next-generation laser applicator technology eliminates the need for external cooling, simplifying setup, reducing power and ablation time, lessening imaging artifacts, and enabling more efficient workflows.
Industry Prospects
Per a report by Grand View Research, the global deep brain stimulation devices market size was valued at $1.18 billion in 2022 and is expected to witness a growth rate of 9.9% from 2023 to 2023 to 2030.
Major factors driving the market growth include the rising geriatric population, the introduction of technologically advanced products, escalating product demand as add-on therapy and an increasing incidence of chronic diseases, such as migraine and epilepsy.
Given the market potential, ClearPoint Neuro’s release of its latest technologies is likely to boost its business and generate additional revenues.
Notable Developments
In April, CLPT announced the receipt of the FDA clearance for its Prism Bone Anchor Accessory. The Prism Bone Anchor Accessory is intended to be used with commercially available stereotactic systems for intracranial and neurosurgical procedures, which require accurate positioning of compatible small surgical instruments or accessories in the cranium, brain or nervous systems.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are Align Technology, Inc. (ALGN - Free Report) , Ecolab (ECL - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Align Technology, currently carrying a Zacks Rank of 2, reported first-quarter 2024 adjusted earnings per share (EPS) of $2.14, which beat the Zacks Consensus Estimate by 8.1%. Revenues of $997.4 million outpaced the consensus mark by 2.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology has a long-term estimated growth rate of 6.9%. ALGN’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 5.9%.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted EPS of 56 cents, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.
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ClearPoint's (CLPT) New Products to Boost Neurosurgical Segment
ClearPoint Neuro (CLPT - Free Report) recently announced the full market release of its SmartFrame OR platform and ClearPoint Prism Neuro Laser Therapy System. The newly launched technologies are likely to be on display at the 2024 Biennial Meeting of the American Society of Stereotactic and Functional Neurosurgery from Jun 1 to Jun 4 in Nashville.
These meaningful innovations are likely to ultimately benefit ClearPoint’s surgical customers and many new patients around the world.
Price Performance
For the past six months, CLPT shares have lost 11% against the industry’s rise of 13.3%. The S&P 500 has increased 15.9% in the same time frame.
Image Source: Zacks Investment Research
More on the Technologies
For patients with essential tremor, dystonia, and Parkinson's disease that is medically incurable, deep brain stimulation (DBS) has been shown to be a safe and successful treatment option.
The development of the SmartFrame OR is expected to be a significant step toward achieving the triple aim of achieving excellent outcomes in an accessible and appropriate clinical setting with broad patient acceptance. This is because it has the potential to enable DBS procedures to be performed in a wider range of hospitals by a greater number of skilled neurosurgeons.
The two primary components of the SmartFrame OR Stereotactic System are the ClearPointer Optical Navigation Wand and the SmartFrame OR. Preoperative MR and/or CT imaging is used in conjunction with a compatible optical stereotactic navigation system to plan and execute neurological procedures. The SmartFrame OR is designed to provide stereotactic guidance for the placement and operation of instruments or devices during this process.
The ClearPoint Prism Neuro Laser Therapy System is used to necrotize or coagulate soft tissue through interstitial irradiation or thermal therapy under 3.0T magnetic resonance imaging guidance.
The system features the only non-cooled laser applicator on the market. ClearPoint’s next-generation laser applicator technology eliminates the need for external cooling, simplifying setup, reducing power and ablation time, lessening imaging artifacts, and enabling more efficient workflows.
Industry Prospects
Per a report by Grand View Research, the global deep brain stimulation devices market size was valued at $1.18 billion in 2022 and is expected to witness a growth rate of 9.9% from 2023 to 2023 to 2030.
Major factors driving the market growth include the rising geriatric population, the introduction of technologically advanced products, escalating product demand as add-on therapy and an increasing incidence of chronic diseases, such as migraine and epilepsy.
Given the market potential, ClearPoint Neuro’s release of its latest technologies is likely to boost its business and generate additional revenues.
Notable Developments
In April, CLPT announced the receipt of the FDA clearance for its Prism Bone Anchor Accessory. The Prism Bone Anchor Accessory is intended to be used with commercially available stereotactic systems for intracranial and neurosurgical procedures, which require accurate positioning of compatible small surgical instruments or accessories in the cranium, brain or nervous systems.
ClearPoint Neuro, Inc. Price
ClearPoint Neuro, Inc. price | ClearPoint Neuro, Inc. Quote
Zacks Rank & Other Stocks to Consider
CLPT carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are Align Technology, Inc. (ALGN - Free Report) , Ecolab (ECL - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Align Technology, currently carrying a Zacks Rank of 2, reported first-quarter 2024 adjusted earnings per share (EPS) of $2.14, which beat the Zacks Consensus Estimate by 8.1%. Revenues of $997.4 million outpaced the consensus mark by 2.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology has a long-term estimated growth rate of 6.9%. ALGN’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 5.9%.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted EPS of 56 cents, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.