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TransEnterix Sells Surgery System to Japanese University
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Headquartered in Morrisville, NC, TransEnterix, Inc. , a global medical technology company, recently announced that it has sold a Senhance Robotic Surgery System to a Japanese customer. The aforementioned system was sold to the Saitama Medical University International Medical Center located in the Saitama Prefecture in the Greater Tokyo region.
Stock Performance
The price performance of the stock has been unfavorable in the last three months. TransEnterix incurred a loss of 54.78%, underperforming the Zacks classified Medical - Instruments sub-industry’s gain of almost 7.94%. The current level also compares unfavorably with the S&P 500’s return of 3.88% over the same time frame.
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.
Coming back to the news, we are bullish on the Senhance Robotic Surgery System’s entry into the Japanese market. This is because Japan is one of the largest market for medical devices as well as robotic assisted surgery devices.
The Senhance System was purchased under a physician import license, which allows cutting-edge medical devices to be directly purchased by Japanese physicians. The Senhance system however does not have broader market approval for sale in Japan to date.
Senhance is a multiport surgical robotic system which helps perform minimally invasive surgery in patients. Recently, Senhance got installed in Imperial College of London, U.K. 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 company acquired Senhance from Italy’s Sofar S.p.A. in 2015.
Our Take
We are upbeat on the global market trends that show that the minimally invasive surgical instruments market is forecasted to reach a total of $21.47 billion by 2021 at a CAGR of 9.1% (Markets And Markets).
Following the submission and clearance of the Senhance system by the FDA, the company would be able to tap into the bountiful prospects in the U.S. market.
Zacks Rank & Stocks to Consider
TransEnterix has a Zacks Rank #3 (Hold).
Some other better-ranked stocks in the broader medical sector include Inogen Inc. (INGN - Free Report) , Luminex Corporation and IDEXX Laboratories, Inc. (IDXX - Free Report) . Notably, Inogen and Luminex Laboratories sport a Zacks Rank #1 (Strong Buy), while IDEXX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock represents an impressive one-year return of 90.2%.
Luminex has a long-term expected earnings growth rate of 16.3%. The stock posted a positive earnings surprise of 237.5% in the last reported quarter.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.37%. Additionally, the stock represents an impressive one-year return of 80.5%.
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TransEnterix Sells Surgery System to Japanese University
Headquartered in Morrisville, NC, TransEnterix, Inc. , a global medical technology company, recently announced that it has sold a Senhance Robotic Surgery System to a Japanese customer. The aforementioned system was sold to the Saitama Medical University International Medical Center located in the Saitama Prefecture in the Greater Tokyo region.
Stock Performance
The price performance of the stock has been unfavorable in the last three months. TransEnterix incurred a loss of 54.78%, underperforming the Zacks classified Medical - Instruments sub-industry’s gain of almost 7.94%. The current level also compares unfavorably with the S&P 500’s return of 3.88% over the same time frame.
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.
Coming back to the news, we are bullish on the Senhance Robotic Surgery System’s entry into the Japanese market. This is because Japan is one of the largest market for medical devices as well as robotic assisted surgery devices.
The Senhance System was purchased under a physician import license, which allows cutting-edge medical devices to be directly purchased by Japanese physicians. The Senhance system however does not have broader market approval for sale in Japan to date.
Senhance is a multiport surgical robotic system which helps perform minimally invasive surgery in patients. Recently, Senhance got installed in Imperial College of London, U.K. 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 company acquired Senhance from Italy’s Sofar S.p.A. in 2015.
Our Take
We are upbeat on the global market trends that show that the minimally invasive surgical instruments market is forecasted to reach a total of $21.47 billion by 2021 at a CAGR of 9.1% (Markets And Markets).
Following the submission and clearance of the Senhance system by the FDA, the company would be able to tap into the bountiful prospects in the U.S. market.
Zacks Rank & Stocks to Consider
TransEnterix has a Zacks Rank #3 (Hold).
Some other better-ranked stocks in the broader medical sector include Inogen Inc. (INGN - Free Report) , Luminex Corporation and IDEXX Laboratories, Inc. (IDXX - Free Report) . Notably, Inogen and Luminex Laboratories sport a Zacks Rank #1 (Strong Buy), while IDEXX carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock represents an impressive one-year return of 90.2%.
Luminex has a long-term expected earnings growth rate of 16.3%. The stock posted a positive earnings surprise of 237.5% in the last reported quarter.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.37%. Additionally, the stock represents an impressive one-year return of 80.5%.
3 Top Picks to Ride the Hottest Tech Trend
Zacks just released a Special Report to guide you through a space that has already begun to transform our entire economy...
Last year, it was generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for those who make the right trades early. Download Report with 3 Top Tech Stocks >>