Orthofix's (OFIX) New Launch to Benefit the MIS Spine Market
Orthofix Medical Inc. OFIX recently announced the full commercial launch of the 7D FLASH Navigation System Percutaneous Module 2.0. In addition, Orthofix successfully completed its first cases using Percutaneous Module 2.0 in the United States.
The latest development expands the clinical functionality and utility of the 7D FLASH Navigation System to address the estimated $1.8 billion Minimally Invasive Surgery (“MIS”) spine market in the United States.
About 7D FLASH Navigation System
The 7D FLASH Navigation System is the only image guidance system that utilizes novel and proprietary camera-based technology, combined with machine-vision algorithms. This eliminates many of the long-standing frustrations with other surgical navigation platforms. The speed, accuracy and efficiency of machine-vision technology are intended to provide significant economic value and lower radiation exposure for staff and patients during open procedures.
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The 7D FLASH Navigation System uses visible light to create a three-dimensional image for surgical navigation in seconds. This enables faster and more efficient spinal procedures.
New Features in Detail
The Percutaneous Module 2.0 provides new planning features and increased functionality for the 7D FLASH Navigation System by providing surgeons with a fully integrated procedural solution for MIS, including implant planning and an expanded offering of navigated tools.
Per a representative at the company, the application addresses the important MIS spine navigation market and further positions the 7D FLASH Navigation System to be the navigation choice for a wide range of institutions — from teaching hospitals to ambulatory surgery centers.
Industry Prospects
Per a research report, the global MIS market was valued at $60.34 billion in 2020 and is expected to witness a CAGR of 4.7% by 2030.
Recent Developments
In June 2023, Orthofix expanded the Orthopedics TrueLok circular frame portfolio with the launch of the TrueLok Phantom and Tornado Hinges. Both hinges are designed for use with TrueLok circular frame offerings, including the TrueLok EVO Ring Fixation System, which was introduced globally last year.
In the same month, the company announced the full commercial launch of the WaveForm A interbody for Anterior Lumbar Interbody Fusion (“ALIF”) procedures. The newest addition to OFIX’s portfolio of solutions for ALIF procedures enables it to provide a more streamlined option for surgeons to help their patients. The WaveForm A interbody seamlessly integrates with the company’s Meridian ALIF system for treating patients in need of fusion due to degenerative disc disease.
Price Performance
In the past six months, Orthofix shares have increased 1.6% against the industry’s decline of 0.7%.
Zacks Rank and Key Picks
Orthofix currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics HAE, Quanterix QTRX and SiBone SIBN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 172.1% in the past year against the industry’s decline of 1.7%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 28.4% in the past year compared with the industry’s rise of 1.9%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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ORTHOFIX MEDICAL INC. (OFIX) : Free Stock Analysis Report
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