Stryker Corporation (SYK Quick QuoteSYK - Free Report) recently announced that the first shoulder arthroplasty surgeries using Blueprint Mixed Reality (MR) Guidance have been completed.

With the use of this technology, surgeons can minimize the possibility of an implant being placed incorrectly by planning and carrying out the procedure using exact photographs of the patient's shoulder. This is customized care based on the anatomy of each patient.

Price Performance

For the past six months, SYK’s shares have rallied 4.8% against the industry’s decline of 3.6%. The S&P 500 increased 6.1% in the same time frame.

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Using the Microsoft HoloLensTM 2 headset and Stryker's cutting-edge software, the Blueprint MR Guidance System, created by a group of elite surgeons, enables the surgeon to monitor the location and orientation of surgical instruments in the real world.

With Blueprint MR Guidance, 3D pictures and guidance widgets that are presented on the patient and in the surgeon's line of sight can guide surgeons and their instruments without interfering with regular workflow. The FDA clearance was granted to the MR Guidance system in January 2023.          

The previous version of Stryker's Blueprint Mixed Reality, called Blueprint Mixed Reality OR Visualization, was utilized in more than 3,500 shoulder replacement procedures worldwide by more than 50 surgeons. The addition of Mixed Reality Guidance to Stryker’s Blueprint platform aims to benefit the entire shoulder arthroplasty market.

Stryker anticipates the completion of the first case utilizing the MR Guidance System in Europe in February, marking a significant milestone in advancing surgical technology globally.

Industry Prospects

Per a report by The Brainy Insights, the global shoulder arthroplasty market was valued at $1.52 billion in 2022, increasing at a CAGR of 7% from 2022 to 2030 and anticipated to reach $2.6 billion by 2030. Asia Pacific is expected to grow the fastest during the forecast period. Moreover, the rise of pharmacological approvals for treating primary osteoarthritis pain, along with the rising number of medication approvals from regulatory authorities, is expected to drive market growth during the forecast period.

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Zacks Rank & Stocks to Consider

SYK carries a Zacks Rank #3 (Hold) at present.

Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR Quick QuoteITGR - Free Report) , Acadia Healthcare (ACHC Quick QuoteACHC - Free Report) , and Universal Health Services (UHS Quick QuoteUHS - Free Report) .

Integer Holdings, presently sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.

Acadia Healthcare, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.4%. ACHC’s long-term earnings are expected to grow at 11.2%.

Acadia’s shares have gained 11.7% in the past six months against the industry’s decline of 5%.

Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%.

UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.