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Silk Road Medical's (SILK) New Stent Expands Its TCAR Portfolio
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Silk Road Medical, Inc. (SILK - Free Report) recently announced the launch of its Tapered ENROUTE Transcarotid Stent System in the United States, which is indicated for patients at high risk and standard risk for adverse events from carotid endarterectomy (CEA).
With the recent launch, the company builds on its previous ENROUTE Transcarotid Stent System, providing more configuration options to better fit patient anatomy and facilitate Transcarotid Artery Revascularization (TCAR).
Price Performance
In the past six months, SILK shares have lost 15.8% against the industry’s rise of 13.2%. The S&P 500 increased 13.2% in the same time frame.
Image Source: Zacks Investment Research
More on the News
Transcarotid Artery Revascularization, or TCAR, is a clinically validated surgery that treats carotid artery blockages that run the risk of triggering a stroke by combining minimally invasive endovascular techniques with surgical concepts of neuroprotection.
In conjunction with the ENROUTE Transcarotid Neuroprotection System during the TCAR operation, the ENROUTE Transcarotid Stent is used for patients with CEA complications. The ENROUTE Transcarotid Stent System's new tapered options expand the wide range of carotid treatments offered by Silk Road Medical.
The ENROUTE Transcarotid Stent System is the sole transcarotid stent system currently on the market that is recommended for patients who are at risk of experiencing adverse events following a CEA.
To achieve long-term plaque stabilization, the ENROUTE Transcarotid Stent System has an optimized cell architecture that balances lesion coverage with anatomical conformability. The stent system's short delivery mechanism, designed specifically for TCAR, allows for accurate and comfortable stent delivery.
Although the ENROUTE stent offered thorough lesion coverage and long-lasting operative results, with the latest launch of the ENROUTE Transcarotid Stent System, there will be additional alternatives for customizing treatment to each patient’s unique anatomy.
Industry Prospects
Per a report by Grand View Research, the global carotid artery stents market was estimated at $559.7 million in 2021 and is expected to grow 3% from 2022 to 2030.
The rising prevalence of cardiovascular diseases, such as stroke, ischemic stroke, and transient ischemic attack, is driving demand for carotid artery stenting procedures that require stents, which is the major factor anticipated to fuel the market growth.
With the market potential for carotid artery stents, Silk Road Medical is likely to boost its business with its latest improved ENROUTE Transcarotid Stent, which provides a wide range of carotid treatments.
Some better-ranked stocks in the broader medical space that have announced quarterly results are Cencora, Inc. (COR - Free Report) , Elevance Health, Inc. (ELV - Free Report) and Cardinal Health, Inc. (CAH - Free Report) .
Cencora, currently carrying a Zacks Rank of 2 (Buy), reported first-quarter fiscal 2024 adjusted earnings per share (EPS) of $3.28, beating the Zacks Consensus Estimate by 14.7%. Revenues of $72.25 billion outpaced the consensus mark by 5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cencora has a long-term estimated growth rate of 8.6%. COR’s earnings surpassed estimates in the trailing four quarters, the average surprise being 6.7%.
Elevance Health reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%. It presently carries a Zacks Rank #2.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.
Cardinal Health reported second-quarter fiscal 2024 adjusted EPS of $1.82, beating the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion surpassed the Zacks Consensus Estimate by 1.1%. It currently carries a Zacks Rank #2.
Cardinal Health has a long-term estimated growth rate of 15.9%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 15.6%.
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Silk Road Medical's (SILK) New Stent Expands Its TCAR Portfolio
Silk Road Medical, Inc. (SILK - Free Report) recently announced the launch of its Tapered ENROUTE Transcarotid Stent System in the United States, which is indicated for patients at high risk and standard risk for adverse events from carotid endarterectomy (CEA).
With the recent launch, the company builds on its previous ENROUTE Transcarotid Stent System, providing more configuration options to better fit patient anatomy and facilitate Transcarotid Artery Revascularization (TCAR).
Price Performance
In the past six months, SILK shares have lost 15.8% against the industry’s rise of 13.2%. The S&P 500 increased 13.2% in the same time frame.
Image Source: Zacks Investment Research
More on the News
Transcarotid Artery Revascularization, or TCAR, is a clinically validated surgery that treats carotid artery blockages that run the risk of triggering a stroke by combining minimally invasive endovascular techniques with surgical concepts of neuroprotection.
In conjunction with the ENROUTE Transcarotid Neuroprotection System during the TCAR operation, the ENROUTE Transcarotid Stent is used for patients with CEA complications. The ENROUTE Transcarotid Stent System's new tapered options expand the wide range of carotid treatments offered by Silk Road Medical.
The ENROUTE Transcarotid Stent System is the sole transcarotid stent system currently on the market that is recommended for patients who are at risk of experiencing adverse events following a CEA.
To achieve long-term plaque stabilization, the ENROUTE Transcarotid Stent System has an optimized cell architecture that balances lesion coverage with anatomical conformability. The stent system's short delivery mechanism, designed specifically for TCAR, allows for accurate and comfortable stent delivery.
Although the ENROUTE stent offered thorough lesion coverage and long-lasting operative results, with the latest launch of the ENROUTE Transcarotid Stent System, there will be additional alternatives for customizing treatment to each patient’s unique anatomy.
Industry Prospects
Per a report by Grand View Research, the global carotid artery stents market was estimated at $559.7 million in 2021 and is expected to grow 3% from 2022 to 2030.
The rising prevalence of cardiovascular diseases, such as stroke, ischemic stroke, and transient ischemic attack, is driving demand for carotid artery stenting procedures that require stents, which is the major factor anticipated to fuel the market growth.
With the market potential for carotid artery stents, Silk Road Medical is likely to boost its business with its latest improved ENROUTE Transcarotid Stent, which provides a wide range of carotid treatments.
Silk Road Medical, Inc. Price
Silk Road Medical, Inc. price | Silk Road Medical, Inc. Quote
Zacks Rank & Stocks to Consider
SILK carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space that have announced quarterly results are Cencora, Inc. (COR - Free Report) , Elevance Health, Inc. (ELV - Free Report) and Cardinal Health, Inc. (CAH - Free Report) .
Cencora, currently carrying a Zacks Rank of 2 (Buy), reported first-quarter fiscal 2024 adjusted earnings per share (EPS) of $3.28, beating the Zacks Consensus Estimate by 14.7%. Revenues of $72.25 billion outpaced the consensus mark by 5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cencora has a long-term estimated growth rate of 8.6%. COR’s earnings surpassed estimates in the trailing four quarters, the average surprise being 6.7%.
Elevance Health reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%. It presently carries a Zacks Rank #2.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.
Cardinal Health reported second-quarter fiscal 2024 adjusted EPS of $1.82, beating the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion surpassed the Zacks Consensus Estimate by 1.1%. It currently carries a Zacks Rank #2.
Cardinal Health has a long-term estimated growth rate of 15.9%. CAH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 15.6%.