Headquartered in Morrisville, NC, TransEnterix, Inc. (TRXC - Free Report) , a global medical technology company, announced that Senhance Surgical Robot System will be available for evaluation by surgeons at the 45th American Association of Gynecologic Laparoscopists (AAGL) Global Congress. The event will be held from Nov 16 to 18, in Rosen Shingle Creek, FL.
Senhance is a multiport surgical robotic system which helps perform minimally invasive surgery in patients. Recently, Senhance got installed in Imperial College of London, the first center in the U.K. to use the technology. 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.
A glance at the share price movement reveals a 1.2% rise to $1.66 following the news. However, the current market sentiments for the company lack luster as TransEnterix represents a negative year-to-date return of roughly 33%, comparing unfavorably with the S&P 500’s almost 6.7% over the same time frame.
Of the recent developments in the company’s Senhance platform, TransEnterix recently inked a distribution partnership with Getz Healthcare for the Australian and New Zealand markets exclusively.
In October, the surgical robot platform got featured in the Clinical Congress 2016 of the American College of Surgeons (ACS), the largest gathering of global surgeons, in Washington, DC.
We are upbeat on the global market trends that show that the minimally invasive surgical instruments market is forecasted to reach a worth of $21.47 billion by 2021, growing at a CAGR of 9.1% (Markets And Markets).
Additionally, following the submission and clearance of the Senhance systemby the FDA, the company would be able to tap into the bountiful prospects in the U.S. market.
Zacks Rank & Key Picks
TransEnterix has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader medical space include Baxter International Inc. (BAX - Free Report) , Nxstage Medical, Inc. (NXTM - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) , all of which sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Baxter represents a strong long-term expected growth rate of 12.3%. Notably, the company has a solid one-year return of roughly 30%.
Nxstage has a stellar one-year return of roughly 35.4%. The company also has a promising long-term expected growth rate of 18.3%.
IDEXX represents a solid year-to-date return of almost 55%. The company has a long-term expected growth rate of almost 14.96%.
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