) has partnered with
Intuitive Surgical Inc.
) to produce Weck disposable trocar seals and obturators for the
latter's latest da Vinci Xi Surgical System. The Weck brand seals
and trocars are based on Teleflex's Weck Vista Bladeless Access
Ports, used in laparoscopic surgeries. Following the announcement
by Teleflex, shares of Teleflex and Intuitive Surgical rose 4.7%
and 1.1%, respectively.
The partnership will help surgeons perform robotic surgeries by
taking advantage of a differentiated technology such as Weck by
Teleflex. On the other hand, the partnership will help Teleflex
expand its market reach by associating with a strong brand such as
da Vinci Xi.
Teleflex's Weck Vista Access portfolio provides the widest offering
of primary entry access ports, including optical ports with
uniquely designed ridged cannulas, broad variety of balloon and
cone open access ports, standard ridged and smooth cannula access
The da Vinci Xi System has been made commercially available since
April 1 this year. According to Intuitive Surgical, the new robotic
system has longer instrument shafts enabling greater reach for
surgery. The robotic arms of the system are also smaller and
thinner and have a new joint design that improves their range of
The system also features an overhead instrument arm design
providing surgeons anatomical access from any position, a digital
endoscope architecture that provides improved vision and clarity,
and an ability to attach the endoscope to any arm, providing
flexibility for visualizing the surgical site.
Teleflex posted a 15.1% rise in adjusted earnings to $1.22 per
share for the first quarter of 2014 from $1.06 in the same quarter
of 2013. With this, earnings beat the Zacks Consensus Estimate by 6
cents per share. Adjusted net earnings rose 19.6% to $53.0 million
from $44.3 million in the year-ago quarter.
Net revenues went up 6.5% to $438.5 million, exceeding the Zacks
Consensus Estimate of $434 million. Excluding foreign exchange
fluctuations, net revenues rose 6.0% from the prior-year quarter.
Intuitive Surgical posted a 41.4% fall in adjusted earnings per
share to $2.67 for the first quarter from $4.56 in the same quarter
of 2013. With this, the robotic surgical systems maker's earnings
lagged the Zacks Consensus Estimate by a wide margin of 67 cents.
Net earnings ebbed 44.8% to $104.3 million from $188.9 million in
the 2013-first quarter. The adjusted figures excluded the impact of
deferral of revenues related to a customer trade-out program for
their recently purchased da Vinci Si Surgical Systems with the
company's new da Vinci Xi Surgical System as well as product
liability litigation charges.
Currently, Teleflex retains a Zacks Rank #3 (Hold) while Intuitive
Surgical carries a Zacks Rank #5 (Strong Sell). Some better-ranked
scrips in the medical instruments industry include
), both carrying a Zacks Rank #2 (Buy).
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ACCURAY INC (ARAY): Free Stock Analysis Report
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