As a major development in its Ear, Nose & Throat (ENT) products business, Medtronic plc (MDT - Free Report) recently launched StealthStation ENT. This FDA approved and CE Marked surgical navigation system allows surgeons to treat conditions within the ENT anatomy.
This technology uses a proprietary electromagnetic (EM) tracking technology, similar to a GPS system used for cars. Per the company, it generates an electromagnetic field around the target patient anatomy during surgery so that instrument positioning is dynamically tracked throughout a procedure.
The StealthStation ENT system enables surgeons to gain better visualization. According to the company, this system offers an edge over the traditional endoscope in the sense that the former includes software and hardware innovation like Virtual Endoscopy, helping surgeons gain a simulated view of sinus cavities unlike the latter.
According to a report by Markets and Markets, the global surgical navigation systems market is expected to reach a worth of $906.8 million by 2021, at a CAGR of 6.5% during the 2016-2021 period. Considering the huge potential of the market, we believe the latest development is a strategical fit.
Over the last three months, Medtronic has underperformed the broader industry. As per the latest share price movement, the company lost 6.1%, as compared to the 1.7% gain of the broader industry over this period. However, we expect the slew of new developments across its businesses to help it make a comeback.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #4 (Sell). A few better-ranked medical stocks in the medical sector are Edwards Lifesciences Corporation (EW - Free Report) , Lantheus Holdings, Inc. (LNTH - Free Report) and Amedisys, Inc. (AMED - Free Report) . Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while Lantheus Holdings and Amedisys carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has rallied roughly 22.2% over the last six months.
Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has gained 41.2% over the last six months.
Amedisys has a long-term expected earnings growth rate of 18.2%. The stock has gained around 5.3% over the last six months.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>