Stryker (SYK) Launches Autonomous Guidance System for Surgeries
Stryker SYK announced the launch of its fully autonomous guidance system, Ortho Q Guidance, designed specifically for its orthopedic customers. The new guidance system can be easily controlled by the surgeon from the sterile field.
The Ortho Q Guidance system has new optical tracking options via a redesigned, state-of-the-art camera with sophisticated algorithms. The new camera features optical tracking options and advanced algorithms from the Ortho Guidance software, which provides improved surgical planning and guidance.
The Ortho Guidance software works with Ortho Q to offer a smart and streamlined workflow for Express Knee, Precision Knee and Versatile Hip procedures, increasing speed and efficiency in the operating room.
Price Performance
Stryker’s shares have risen 20.4% year to date compared with the industry’s growth of 2.6%. The S&P 500 Index has gained 15.6% in the same time frame.
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Features of the New Guidance System
One of the key features of the Ortho Q Guidance system is that it is a robotics-ready platform, which means that it can be integrated with robotic technology in the future. The platform includes dual PCs and a quick-refresh camera that ensure fast and reliable performance and data processing.
Another feature of the guidance system is that it is implant agnostic, which means that it can work with any implant that the surgeon chooses. This gives the surgeon more flexibility and options, enabling the facilities to meet the needs of the entire service line using one platform.
The system also supports different surgical approaches, such as anterior, posterior, or lateral hip replacement, or partial or total knee replacement.
The advanced guidance system has a Triathlon implant dedicated software, designed for Stryker's Triathlon knee implants. The software provides additional clinical feedback to the surgeon, such as implant sizing, alignment, rotation and gap balancing.
The Ortho Q Guidance system also features a small footprint, which means it takes up less space and is easy to move and store. This allows for use in both the operating room and the ambulatory surgery center setting, thereby increasing accessibility and convenience for both surgeons and patients.
Industry Prospects
Per a report by REPORTS AND DATA, the global orthopedic navigation systems market was valued at $146.5 million in 2018. It is anticipated to reach $327.9 million by 2026 at a CAGR of 10.6%.
Growth in health care infrastructure and the increasing prevalence of orthopedic disorders will drive the growth of the orthopedic surgical navigation system market in this end-user segment.
Given the market potential, the availability and adoption of the autonomous guidance system is likely to bolster Stryker’s business globally.
Recent Development
In May, Stryker successfully completed the first surgical case using the Q Guidance system along with Cranial Guidance software, per an update from its Early Product Surveillance for the new system prior to its full commercial launch. The advanced technology aids surgeons in cranial surgeries by offering image-based planning and intraoperative guidance.
Stryker Corporation Price
Stryker Corporation price | Stryker Corporation Quote
Zacks Rank & Other Stocks to Consider
Stryker currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space are Alcon ALC, DexCom DXCM and Hologic HOLX, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.85%.
ALC’s shares have rallied 17.7% year to date compared with the industry’s 5.9% growth.
DexCom has an estimated long-term growth rate of 40.4%. Its earnings surpassed estimates in three of the trailing four quarters and met the same once, delivering an average surprise of 15.19%.
DXCM’s shares have risen 11.9% year to date compared with the industry’s 5.9% growth.
Hologic has an estimated earnings growth rate of 4.1% for fiscal 2024. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 3.6% year to date compared with the industry’s 5.9% growth.
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