Boston Scientific Corporation (BSX - Free Report) recently launched its new urology device globally. Called LithoVue Empower Retrieval Deployment Device, it will be used together with the LithoVue Single-Use Digital Flexible Ureteroscope and a compatible nitinol retrieval basket. This latest development remains in line with Boston Scientific’s strategy to address inefficiencies during stone procedures.
The breakthrough will improve the standard of ureteroscopic stone treatment, enabling urologists to run ureteroscope and basket simultaneously while retrieving kidney stones via the flexible ureteroscopy (URS).
Per Boston Scientific, the technical procedure combining such sophisticated devices will put the entire stone manipulation method in the surgeon’s hands. More precisely, urologists traditionally require help of a second person during kidney stone retrieval to regulate the basket used for collecting kidney stones. However, this latest innovation by Boston Scientific changes this age-old system. It will now turn a two-person stone basketing practice into a single-handed one.
Apart from allowing the surgeon to exercise greater control, the routine will decrease the miscommunication risk during stone basketing without compromising on time.
Strong Urology Growth So Far
Boston Scientific’s Urology and Pelvic Health business continues to demonstrate a very strong global performance trend. During the second quarter, sales increased 9%, led by double-digit growth in Stone franchise wherein sales of LithoVue single-use digital ureteroscope consistently outperformed.
Men's Health products are also showing solid growth. Within prostate health, the Rezum minimally invasive therapy (MIT) for benign prostatic hyperplasia (BPH) steadily acts as a key driver. Notably, the recent American Urology Association guidelines supporting MIT (Minimally Invasive Therapy) approaches for BPH are also aiding the Rezum adoption.
Overall, we believe that this latest addition to LithoVue portfolio is expected to drive further growth within Urology for Boston Scientific. In this regard, the global kidney stones management market is poised to cross the $2-billion mark by 2024 (per a CISION report), citing huge growth opportunities for Boston Scientific’s urology arm.
Share Price Performance
Boston Scientific has been gaining investor confidence on consistently positive results. In the past three months, shares of the company have outperformed its industry. The stock has rallied 20% compared with the industry’s 9.2% increase.
Zacks Rank and Key Picks
Boston Scientific currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are athenahealth (ATHN - Free Report) , Masimo Corporation (MASI - Free Report) and Veeva Systems (VEEV - Free Report) .
athenahealth has an expected long-term earnings growth rate of 17.6%. The stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Masimo’s long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2 (Buy).
Veeva Systems’ long-term earnings growth rate is estimated at 19.3%. The stock has a Zacks Rank of 1.
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 >>