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Enovis' (ENOV) New System to Aid Reverse Shoulder Prosthesis
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Enovis (ENOV - Free Report) recently introduced the AltiVate Reverse Glenoid System, expanding the glenoid implant offering of the AltiVate Reverse by including modular and augmented baseplates. The new full-range solution adds bone-sparing baseplate, peripheral fixation and glenosphere options to the proven Reverse Shoulder Prosthesis (RSP) glenoid baseplate while maintaining simplicity and efficiency.
The AltiVate Reverse Glenoid System, an important addition to Enovis' industry-leading AltiVate products, received FDA 510(k) clearance in May 2024 for use in reverse shoulder arthroplasty, including revisions. It is based on the company's central screw fixation design and has undergone at least 10 years of clinical follow-up.
More on Enovis’ AltiVate Reverse Glenoid System
The AltiVate Reverse Glenoid System is likely to offer a modular, augmented baseplate based on the proven central screw fixation principle of Enovis’ RSP system.
The system provides various central compression screw diameters and lengths, along with a modular baseplate with options for neutral and 15° wedge. To reduce the volume of bone removed while preserving the glenoid vault, the baseplate boss was engineered to be more bone-sparing than any other baseplate that is currently available in the market with a comparable central through-screw design. Additionally, it expands the already extensive RSP portfolio by adding four new glenospheres, providing surgeons with an extensive range of options to improve implant longevity and optimize the biomechanical requirements of individual patients.
The first surgery using AltiVate Reverse Glenoid was conducted by Dr. Mark Frankle at Tampa General Hospital on Jul 8, 2024.
About Reverse Shoulder Arthroplasty
Reverse Shoulder Arthroplasty is a type of shoulder arthroplasty that uses a convex glenoid hemispheric ball and a concave humerus articulating cup to reconstruct the glenohumeral joint. It is intended for conditions such as rotator cuff tear arthropathy, comminuted four-part proximal humerus fractures and prior failed shoulder arthroplasty.
Reverse Shoulder Arthroplasty represents a majority of the shoulder replacements performed annually in the United States. In a reverse shoulder replacement, the position of the ball and socket are switched. The procedure was developed in the 1980s in Europe and was approved by the FDA in 2003, indications for this procedure continue to expand, increasing the demand for implants that can be used in a variety of patients.
Industry Prospects
Per a report by The Brainy Insights, the global shoulder arthroplasty market was estimated to be $1.52 billion in 2022 and is expected to reach $2.6 billion by 2030 at a growth rate of 6.9%.
The rise in the senior population is driving the growth of the shoulder arthroplasty market. The aging population accounts for increasing replacement surgeries for various causes, such as accidents & emergence are major factors for market growth. Moreover, the rising popularity of organized sports, along with the increasing popularity of exercise and fitness regimes, is anticipated to propel market growth.
Price Performance
For the past year, ENOV’s shares have lost 29.2% compared with the industry’s decline of 26.1%. The S&P 500 increased 25.1% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
ENOV carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are DaVita (DVA - Free Report) , Stryker Corporation (SYK - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, sporting a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% growth in the past year.
Stryker, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.6%. SYK’s earnings surpassed estimates in each of the trailing four quarters, with the average being 4.9%.
Stryker has gained 13.2% against the industry’s 3.1% decline in the past year.
Universal Health Services has an Earnings ESP of +2.91% and a Zacks Rank of 2, at present. UHS has an estimated earnings growth rate of 30.5% for 2024.
UHS’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.12%.
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Enovis' (ENOV) New System to Aid Reverse Shoulder Prosthesis
Enovis (ENOV - Free Report) recently introduced the AltiVate Reverse Glenoid System, expanding the glenoid implant offering of the AltiVate Reverse by including modular and augmented baseplates. The new full-range solution adds bone-sparing baseplate, peripheral fixation and glenosphere options to the proven Reverse Shoulder Prosthesis (RSP) glenoid baseplate while maintaining simplicity and efficiency.
The AltiVate Reverse Glenoid System, an important addition to Enovis' industry-leading AltiVate products, received FDA 510(k) clearance in May 2024 for use in reverse shoulder arthroplasty, including revisions. It is based on the company's central screw fixation design and has undergone at least 10 years of clinical follow-up.
More on Enovis’ AltiVate Reverse Glenoid System
The AltiVate Reverse Glenoid System is likely to offer a modular, augmented baseplate based on the proven central screw fixation principle of Enovis’ RSP system.
The system provides various central compression screw diameters and lengths, along with a modular baseplate with options for neutral and 15° wedge. To reduce the volume of bone removed while preserving the glenoid vault, the baseplate boss was engineered to be more bone-sparing than any other baseplate that is currently available in the market with a comparable central through-screw design. Additionally, it expands the already extensive RSP portfolio by adding four new glenospheres, providing surgeons with an extensive range of options to improve implant longevity and optimize the biomechanical requirements of individual patients.
The first surgery using AltiVate Reverse Glenoid was conducted by Dr. Mark Frankle at Tampa General Hospital on Jul 8, 2024.
About Reverse Shoulder Arthroplasty
Reverse Shoulder Arthroplasty is a type of shoulder arthroplasty that uses a convex glenoid hemispheric ball and a concave humerus articulating cup to reconstruct the glenohumeral joint. It is intended for conditions such as rotator cuff tear arthropathy, comminuted four-part proximal humerus fractures and prior failed shoulder arthroplasty.
Reverse Shoulder Arthroplasty represents a majority of the shoulder replacements performed annually in the United States. In a reverse shoulder replacement, the position of the ball and socket are switched. The procedure was developed in the 1980s in Europe and was approved by the FDA in 2003, indications for this procedure continue to expand, increasing the demand for implants that can be used in a variety of patients.
Industry Prospects
Per a report by The Brainy Insights, the global shoulder arthroplasty market was estimated to be $1.52 billion in 2022 and is expected to reach $2.6 billion by 2030 at a growth rate of 6.9%.
The rise in the senior population is driving the growth of the shoulder arthroplasty market. The aging population accounts for increasing replacement surgeries for various causes, such as accidents & emergence are major factors for market growth. Moreover, the rising popularity of organized sports, along with the increasing popularity of exercise and fitness regimes, is anticipated to propel market growth.
Price Performance
For the past year, ENOV’s shares have lost 29.2% compared with the industry’s decline of 26.1%. The S&P 500 increased 25.1% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
ENOV carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are DaVita (DVA - Free Report) , Stryker Corporation (SYK - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, sporting a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% growth in the past year.
Stryker, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 10.6%. SYK’s earnings surpassed estimates in each of the trailing four quarters, with the average being 4.9%.
Stryker has gained 13.2% against the industry’s 3.1% decline in the past year.
Universal Health Services has an Earnings ESP of +2.91% and a Zacks Rank of 2, at present. UHS has an estimated earnings growth rate of 30.5% for 2024.
UHS’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.12%.