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Stereotaxis (STXS) Inks Deal to Buy Access Point Technologies
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Stereotaxis (STXS - Free Report) , a global leader in surgical robotics for minimally invasive endovascular intervention, has announced its definitive agreement to acquire Access Point Technologies EP ("APT"), a developer of innovative electrophysiology catheters. This strategic move is poised to significantly enhance Stereotaxis' capabilities in advancing the treatment of complex arrhythmias and promoting the adoption of robotics in endovascular surgery.
The acquisition deal includes upfront and contingent payments based on key regulatory and commercial milestones, all payable in Stereotaxis common stock. Stereotaxis estimates that APT will contribute approximately $5 million in annual revenues in the first year post acquisition, further bolstering its financial outlook. The deal is expected to be completed in the third quarter.
Price Performance
The stock has risen 19.4% year to date compared with the industry’s 6.1% increase. The S&P 500 Index has jumped 9.7% in the same period.
Image Source: Zacks Investment Research
Deal to Enhance Stereotaxis' Competitive Edge
The acquisition of APT will provide Stereotaxis with crucial catheter development and manufacturing capabilities, thus aligning with its commitment to drive innovation in the field of electrophysiology. With APT's portfolio of high-quality diagnostic catheters designed for cardiac ablation procedures, Stereotaxis will gain access to cutting-edge technology that offers clinical value to patients and physicians, particularly in challenging and complex arrhythmias.
The deal will not only provide Stereotaxis with advanced technology and manufacturing capabilities but also strengthen its competitive position in the rapidly evolving field of electrophysiology. By integrating APT's expertise into its operations, Stereotaxis is well-positioned to drive significant innovations that improve patient outcomes and transform endovascular surgery through robotics.
Notable Developments
Last month, Stereotaxis reported first-quarter results, which reflected continued growth in revenues. The rise in sales was primarily driven by higher system placements. Moreover, an increase in system backlog with two Genesis systems orders is likely to boost revenues in the upcoming quarters.
In March, the company announced the regulatory submissions for the MAGiC catheter, which is seeking marketing clearance in Europe and the United States. These submissions follow successful initial clinical results in an ongoing trial.
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 13.6%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 29.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 30.3% compared with the industry’s 9.5% growth year to date.
Medpace, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 17.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.8%.
Medpace’s shares have risen 27% year to date compared with the industry’s 3.5% growth.
Align Technology, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 6.9%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same in one quarter, delivering an average surprise of 5.9%.
ALGN’s shares have declined 0.5% year to date against the industry’s 2.3% growth.
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Stereotaxis (STXS) Inks Deal to Buy Access Point Technologies
Stereotaxis (STXS - Free Report) , a global leader in surgical robotics for minimally invasive endovascular intervention, has announced its definitive agreement to acquire Access Point Technologies EP ("APT"), a developer of innovative electrophysiology catheters. This strategic move is poised to significantly enhance Stereotaxis' capabilities in advancing the treatment of complex arrhythmias and promoting the adoption of robotics in endovascular surgery.
The acquisition deal includes upfront and contingent payments based on key regulatory and commercial milestones, all payable in Stereotaxis common stock. Stereotaxis estimates that APT will contribute approximately $5 million in annual revenues in the first year post acquisition, further bolstering its financial outlook. The deal is expected to be completed in the third quarter.
Price Performance
The stock has risen 19.4% year to date compared with the industry’s 6.1% increase. The S&P 500 Index has jumped 9.7% in the same period.
Image Source: Zacks Investment Research
Deal to Enhance Stereotaxis' Competitive Edge
The acquisition of APT will provide Stereotaxis with crucial catheter development and manufacturing capabilities, thus aligning with its commitment to drive innovation in the field of electrophysiology. With APT's portfolio of high-quality diagnostic catheters designed for cardiac ablation procedures, Stereotaxis will gain access to cutting-edge technology that offers clinical value to patients and physicians, particularly in challenging and complex arrhythmias.
The deal will not only provide Stereotaxis with advanced technology and manufacturing capabilities but also strengthen its competitive position in the rapidly evolving field of electrophysiology. By integrating APT's expertise into its operations, Stereotaxis is well-positioned to drive significant innovations that improve patient outcomes and transform endovascular surgery through robotics.
Notable Developments
Last month, Stereotaxis reported first-quarter results, which reflected continued growth in revenues. The rise in sales was primarily driven by higher system placements. Moreover, an increase in system backlog with two Genesis systems orders is likely to boost revenues in the upcoming quarters.
In March, the company announced the regulatory submissions for the MAGiC catheter, which is seeking marketing clearance in Europe and the United States. These submissions follow successful initial clinical results in an ongoing trial.
Stereotaxis Inc. Price
Stereotaxis Inc. price | Stereotaxis Inc. Quote
Zacks Rank & Other Stocks to Consider
Stereotaxis currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Align Technology (ALGN - Free Report) and Medpace (MEDP - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 13.6%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 29.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 30.3% compared with the industry’s 9.5% growth year to date.
Medpace, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 17.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.8%.
Medpace’s shares have risen 27% year to date compared with the industry’s 3.5% growth.
Align Technology, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 6.9%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same in one quarter, delivering an average surprise of 5.9%.
ALGN’s shares have declined 0.5% year to date against the industry’s 2.3% growth.