Intuitive Surgical (ISRG - Free Report) recently announced FDA approval of its SureForm 60 stapler. The company’s shares climbed 1.7% to $495.46 following the announcement. Notably, shares of Intuitive Surgical have rallied 56.9%, against the industry’s decline of 11.8% in a year’s time.
The stock carries a Zacks Rank #3 (Hold).
Back to the news, the latest clearance reflects the California-based manufacturer of surgical systems’ commitment toward minimally-invasive innovation.
SureForm 60 is a fully wristed 60mm stapler. It is a first-of-its-kind stapler that offers 120 degrees of fully wristed articulation. The new breed of da Vinci stapling is compatible with the da Vinci Xi and X surgical systems.
SureForm 60 uses SmartFire technology that optimizes stapler and staple line performance.
Per MarketsandMarkets, the minimally invasive surgical instruments market is projected to reach a worth of $21.47 billion by 2021 at a CAGR of 9.1%.
Hence the latest development has been a timely and strategic one for Intuitive Surgical.
Minimally-Invasive Surgery Takes MedTech by Storm
Minimally-invasive surgery involves less surgical incisions to reduce trauma for patients. Of late, the U.S. MedTech space has been witnessing increased usage of the surgical procedure. Intuitive Surgical’s coveted da Vinci platform deserves a special mention here. The System is powered with robotic technology that helps the surgeon make smaller and precise movements.
Meanwhile, Stryker Corporation’s (SYK - Free Report) robotic-arm assisted Mako surgery platform facilitates advanced joint replacement surgery solutions. The coveted Mako platform recently recorded strong performance in Japan, South Pacific and Canada. Globally, Stryker installed 28 Mako robots, of which 24 were in the United States.
Want More From the Industry?
A few better-ranked stocks from the Medical Instruments space that specialize in minimally-invasive surgical solutions are Masimo Corporation (MASI - Free Report) and STERIS plc (STE - Free Report) .
Masimo’s innovative noninvasive patient monitoring system has been driving the top line. The stock carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
STERIS’ Harmony Hybrid OR is designed to accommodate growing utilization demand for minimally-invasive surgery. The stock has a Zacks Rank #2.
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