Stryker (SYK Quick QuoteSYK - Free Report) recently announced the expansion of its Foot & Ankle portfolio with the introduction of two cutting-edge products — the Osteotomy Truss System (“OTS”) and the Ankle Truss System (“ATS”). Acquired from 4WEB Medical, these new products are designed to enhance surgical precision and improve patient outcome. Both products will be featured at the American Orthopaedic Foot & Ankle Society Annual Meeting in Vancouver during Sept. 11-14, 2024.

The addition of the ATS and the integration of Artelon demonstrate SYK’s focus on providing surgeons with improved orthopaedic solutions to achieve the best possible patient outcome. The company remains dedicated to continually advancing its offerings to meet the evolving needs of customers in all foot and ankle procedures.

SYK’s Infinity Total Ankle System is a market leader in low-profile ankle implants and has demonstrated outstanding long-term results, with a 98.8% survivorship rate at two years and 95.9% at seven years. The system's anatomically contoured components ensure that patients maintain mobility and joint function, solidifying Stryker’s reputation as a leader in total ankle replacement. The new systems will likely help the company to solidify its leadership position in the segment.

Stryker’s share price closed 0.4% higher on Sept. 11 following the announcement of the news. In the past six months, SYK’s shares have risen 2.6% compared with the industry’s growth of 6.4%. The S&P 500 has gained 6.5% in the same time frame.

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SYK’s Innovative Technologies to Address Surgical Needs

The ATS incorporates the Arthrosphere and Arthrocube implants, which are designed to restore limb length while ensuring structural integrity during tibiotalocalcaneal fusions. One of the standout features of ATS is its Truss Implant Technology, which offers an open architecture that not only supports structural stability but also promotes fusion in patients. The system is compatible with Stryker’s T2 Ankle Arthrodesis Nail and Valor Hindfoot Fusion Nail, offering a versatile and comprehensive solution for complex ankle surgeries.

Available in three distinct shapes, the ATS implants are designed to provide surgeons with flexible options, ensuring faster scheduling for patients who require immediate ankle fusion procedures. This innovation marks a significant leap in enabling surgeons to restore both form and function in a precise and efficient manner.

Meanwhile, the OTS includes Cotton, Evans and Utility wedges, delivering a comprehensive solution for various osteotomy needs in the foot and ankle. OTS is currently available for internal bone fixation and osteotomies in the foot and ankle.

Stryker will also showcase its Artelon Flexband, a next-generation biomaterial designed to aid the healing of soft tissues by restoring their natural strength and elasticity. This innovative material is part of the company’s ongoing commitment to driving innovation in orthopedic procedures.

Favorable Industry Prospects for SYK

Per a report by Markets and Markets, the global foot and ankle device market size was estimated to be $4.4 billion in 2022 and is expected to witness a CAGR of 5.9% until 2032 to reach $7.8 billion.

Given the market potential, SYK’s ATC and OTC devices are likely to provide a boost to the company’s business.

Stryker Corporation Price

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SYK’s Zacks Rank and Stocks to Consider

Stryker currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA Quick QuoteDVA - Free Report) , Quest Diagnostics Incorporated (DGX Quick QuoteDGX - Free Report) and Boston Scientific Corporation (BSX Quick QuoteBSX - Free Report) .

DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 17.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

DVA’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 24.2%. Its shares have risen 11.4% compared with the industry’s 7.7% growth in the past six months.

Quest Diagnostics, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 6.2%. DGX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 3.3%.

Quest Diagnostics’ shares have risen 18.6% compared with the industry’s 7.7% growth in the past six months.

Boston Scientific, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.6%. BSX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 7.2%.

Boston Scientific’s shares have rallied 25.6% compared with the industry’s 6.5% growth in the past six months.