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Stryker Corporation SYK recently officially launched the Tornier shoulder arthroplasty portfolio and introduced its first new Tornier product — the Perform Humeral Stem. The launch of this portfolio is likely to provide a competitive edge to Stryker in the shoulder market.
For investors’ note, the new Tornier Perform Humeral Stem is backed by Blueprint planning software and the market-leading Perform anatomic and reverse glenoid. This, in turn, helps the product to provide clinical solutions for shoulder arthroplasty cases ranging from the simplest to the most complex.
The Tornier Perform Humeral Stem can be utilized in anatomic, reverse and hemiarthroplasty of the shoulder. It aids in conversion from an anatomic to a reverse shoulder prosthesis in the case of revision.
This launch is not only likely to give a boost to Stryker’s Orthopaedics segment but also strengthen its diversified product portfolio.
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Per management, the introduction of this portfolio will provide surgeons with the one of the most solid, all-inclusive product lines available.
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Apart from being well-positioned in the shoulder market, Stryker continues to deliver on its goal to improve healthcare by meeting the need of surgeons and patients that they serve.
Per a report by Allied Market Research, the global shoulder arthroplasty market was worth $1.08 billion in 2016 and is expected to reach $1.81 billion by 2023, witnessing a CAGR of 7.6% during the forecast period (2017-2023). Hence, the launch is well-timed for Stryker.
In June, Stryker collaborated with Texas Health Hospital Mansfield, which has adopted the full portfolio of Stryker products to support their journey of minimizing harm to healthcare providers and patients in the operating room.
In April, the company and Minor League Baseball announced a unique multiyear national partnership, wherein Stryker was chosen as “The Official SmartRobotics Joint Replacement Partner of Minor League Baseball.”
Shares of the Zacks Rank #3 (Hold) company have gained 38.7% in a year’s time, compared with the industry’s growth of 12.6%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are Henry Schein, Inc. HSIC, Envista Holdings Corporation NVST and Align Technology, Inc. ALGN, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Henry Schein’s long-term earnings growth rate is estimated at 11.2%.
Envista Holdings’ long-term earnings growth rate is estimated at 26.4%.
Align Technology’s long-term earnings growth rate is projected at 23.2%.
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