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TransEnterix (TRXC) Opens New Surgical Robotics Facility
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Global medical technology company, TransEnterix announced that it would open a new surgical robotics facility in Milan, Italy. The new facility would focus on surgical robotics training as well as research and development. The expansion is in line with the company’s strategy to focus on Senhance.
The stock delivered a solid return of almost 8.03% over the past six months, comparing favorably with the Zacks categorized Medical Instruments sub-industry’s loss of almost 2.22%. Shares of TransEnterix followed the favorable market trend and surged 1.37% to close at $1.48 following the news release.
The estimate revision trend for the stock has been dismal with two estimates moving south in the last two months, and no estimate moving north. Notably, the current year estimate for the stock decreased by 3 cents to a loss of 44 cents per share over the same time frame.
Senhance is a multiport surgical robotic system which helps perform minimally invasive surgery. Recently, Senhance got installed in Imperial College of London, the first center in the U.K. to use the technology. Notably, Senhance is CE Marked for use in general surgery, gynecology, urology and thoracic surgery, but is not available for sale in the U.S. However, TransEnterix is on track to file for a 501(k) approval for Senhance with the U.S. FDA. The Research Triangle Park-based company acquired Senhance from Italy’s Sofar S.p.A. in 2015.
Of the recent developments in the company’s Senhance platform, TransEnterix recently inked a distribution partnership with Getz Healthcare for the Australian and New Zealand markets exclusively.
Our Take
We are upbeat on global market trends that show that the minimally invasive surgical instruments market is forecast to reach a worth of $21.47 billion by 2021, growing at a CAGR of 9.1% (Markets And Markets).
Additionally, following the submission and clearance of the Senhance system by the FDA, the company would be able to tap the bountiful prospects in the U.S. market.
Zacks Rank & Key Picks
TransEnterix has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , LHC Group, Inc. and HMS Holdings Corp. . Addus HomeCare and LHC Group sport a Zacks Rank #1 (Strong Buy) while HMS Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 42.9%.
LHC Group has a long-term expected earnings growth rate of 15%. The company has returned almost 2.8% in the last one month.
HMS Holdings has an expected earnings growth of almost 14.3%. The company posted a promising year-to-date return of 48.5%.
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TransEnterix (TRXC) Opens New Surgical Robotics Facility
Global medical technology company, TransEnterix announced that it would open a new surgical robotics facility in Milan, Italy. The new facility would focus on surgical robotics training as well as research and development. The expansion is in line with the company’s strategy to focus on Senhance.
The stock delivered a solid return of almost 8.03% over the past six months, comparing favorably with the Zacks categorized Medical Instruments sub-industry’s loss of almost 2.22%. Shares of TransEnterix followed the favorable market trend and surged 1.37% to close at $1.48 following the news release.
The estimate revision trend for the stock has been dismal with two estimates moving south in the last two months, and no estimate moving north. Notably, the current year estimate for the stock decreased by 3 cents to a loss of 44 cents per share over the same time frame.
Senhance is a multiport surgical robotic system which helps perform minimally invasive surgery. Recently, Senhance got installed in Imperial College of London, the first center in the U.K. to use the technology. Notably, Senhance is CE Marked for use in general surgery, gynecology, urology and thoracic surgery, but is not available for sale in the U.S. However, TransEnterix is on track to file for a 501(k) approval for Senhance with the U.S. FDA. The Research Triangle Park-based company acquired Senhance from Italy’s Sofar S.p.A. in 2015.
Of the recent developments in the company’s Senhance platform, TransEnterix recently inked a distribution partnership with Getz Healthcare for the Australian and New Zealand markets exclusively.
Our Take
We are upbeat on global market trends that show that the minimally invasive surgical instruments market is forecast to reach a worth of $21.47 billion by 2021, growing at a CAGR of 9.1% (Markets And Markets).
Additionally, following the submission and clearance of the Senhance system by the FDA, the company would be able to tap the bountiful prospects in the U.S. market.
Zacks Rank & Key Picks
TransEnterix has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical sector include Addus HomeCare Corporation (ADUS - Free Report) , LHC Group, Inc. and HMS Holdings Corp. . Addus HomeCare and LHC Group sport a Zacks Rank #1 (Strong Buy) while HMS Holdings carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Addus HomeCare has a long-term expected earnings growth rate of approximately 15%. Notably, the stock represents an impressive one-year return of 42.9%.
LHC Group has a long-term expected earnings growth rate of 15%. The company has returned almost 2.8% in the last one month.
HMS Holdings has an expected earnings growth of almost 14.3%. The company posted a promising year-to-date return of 48.5%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>