Stryker (SYK) Launches Q Guidance System for Spine Applications
Stryker Corporation SYK announced the launch of its new Spine Guidance Software — Q Guidance System — for spine application. The new system incorporates a redesigned, state-of-the-art camera, providing new optical tracking options, combined with sophisticated algorithms of the newly launched Spine Guidance Software. The new guidance system will help in delivering more surgical planning and navigation capability than ever before.
The Q Guidance System used with the Spine Guidance Software is likely to enable open or percutaneous computer-assisted surgery. The system received FDA approval for use in pediatric patients aged 13 and older in May.
The launch of Q Guidance System is expected to significantly solidify Stryker’s foothold in the global orthopedics and spine space.
Significance of Q Guidance’s Launch
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 the 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 orthopedics. Management also believes the system is for future compatibility with a fully integrated ecosystem, driving more value for Stryker’s customers.
Stryker Corporation Price
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The director of spine surgery at Nicklaus Children's Hospital has a strong faith in the new system as he expects it to provide reliable and scalable performance to a wide array of surgical procedures, ranging from a single-level fusion to a multi-level deformity correction.
Recent Notable Developments
Earlier this month, Stryker received approval from the FDA for its OptaBlate bone tumor ablation system. OptaBlate is the first FDA-approved system with microinfusion technology anticipated to be a reliable solution for painful metastatic tumors in cancer patients. This approval boosts Stryker’s Interventional Spine (IVS) portfolio by expanding the company’s core competencies in vertebral augmentation and radiofrequency ablation.
In July, Stryker reported its second-quarter 2022 results, wherein it recorded an uptick in net sales, both on a reported and an organic basis. The growth momentum continued for both its reporting segments — Orthopaedics and Spine; and MedSurg and Neurotechnology.
Price Performance
Shares of Stryker have lost 24.2% so far this year compared with the industry’s 47.6% and the S&P 500's 23.9% decline.
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Zacks Rank & Stocks to Consider
Stryker currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are ShockWave Medical SWAV, AMN Healthcare Services AMN and McKesson MCK. While ShockWave Medical and AMN Healthcare Services sport a Zacks Rank #1 (Strong Buy), McKesson carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for ShockWave Medical’s earnings per share rose from $2.02 to $2.57 for 2022 and from $2.95 to $3.42 for 2023 in the past 60 days. SWAV has gained 45.1% so far this year.
ShockWave Medical delivered an earnings surprise of 180.14%, on average, in the last four quarters.
Estimates for AMN Healthcare Services have improved from earnings of $10.41 to $11.26 for 2022 and $7.94 to $8.30 for 2023 in the past 60 days. AMN stock has declined 14.9% so far this year.
AMN Healthcare Services delivered an earnings surprise of 15.66%, on average, in the last four quarters.
McKesson’s earnings per share estimates increased from $23.27 to $24.42 for fiscal 2023 and $25.41 to $26.04 for fiscal 2024 in the past 60 days. MCK has gained 39.6% so far this year.
McKesson delivered an earnings surprise of 13.00%, on average, in the last four quarters.
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