Do You Have These Robotics Stocks On Your Watchlist Right Now?
The health care industry has been evolving at an exponential pace due to the advancement of technology. Well, surgical robotics has been a big part of this evolution. In light of this, many stock market investors are constantly on the lookout for surgical robotics stocks. We are now seeing higher success rates in difficult surgical procedures. Sure, the skills and knowledge of the operating surgeons would have improved along with technology. That said, the introduction of automation in the industry has been a pivotal reason for this success. According to ResearchAndMarkets.com, the global surgical robots market is projected to grow at the rate of 17.5% compound annual growth rate (CAGR) by 2027.
At a glance, the surgical robotics industry seems like a foolproof investment as more surgeries rely on robotics. However, any malfunction or failure to perform at the highest level could be detrimental for the patients. For instance, Medtronic (NYSE: MDT) suffered a setback recently as there were reports of the recall expansion of its Pipeline Embolization Devices. The reason for the recall is due to the risk that the delivery system’s wire and tubes may break while the doctor is putting it in place. However, in the long run, the fact remains that the future of health care will likely involve robotics, the same as with many other industries. So, would a list of the top surgical robotics stocks in thestock market todaybe of your interest? Here are 4 names to watch in the stock market this week.
Best Surgical Robotics Stocks To Watch Now
- Stryker Corporation (NYSE: SYK)
- Intuitive Surgical, Inc (NASDAQ: ISRG)
- Globus Medical Inc (NYSE: GMED)
- Smith & Nephew plc (NYSE: SNN)
Let us kick start the list with one of the top names in the industry right now, Stryker Corporation. The company specializes in medical technologies in the field of orthopedic, medical and surgical, and neurotechnology. SYK stock has been trading in a tight range over the past year, rising more than 15% within the period. So, what you need to know about Stryker’s involvement in the surgical robotics space would be its Mako system.
Mako helps practitioners to perform robotic-arm assisted surgeries. That allows higher precision when executing joint replacement surgeries. It combines three key components, 3D CT-based planning, AccuStop haptic technology, and insightful data analytics, all into one platform. This combination would guide practitioners to cut precisely according to plan for each patient. Hence, preserving soft tissues and any unnecessary bone cutting.
Earlier this month, Stryker announced the establishment of the R&D lab in Queensland, Australia. It received a multi-million dollar grant from the Queensland government to focus on data science, robotics, disease and infection control, and advanced manufacturing research. Existing relationships with hospitals, universities, and local governments will play a role in the transformation of precision medical device technology. Therefore, it would be reasonable to assume these collaborations will help the company to unlock new frontiers of medical technology. All things considered, would you be adding SYK stock to your watchlist?
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Another top surgical robotics company right now would be Intuitive Surgical. Essentially, the company develops, manufactures, and markets the da Vinci surgical system and Ion endoluminal system. When it comes to robotic-assisted surgery, the company is one of the leaders in the industry. To date, the company has helped tens of thousands of surgeons perform 7 million procedures worldwide.
In detail, the company uses precise and efficient robots to excel in minimally invasive care. For example, its vision system delivers 3D high-definition views that give surgeons a crystal clear view of the surgical area that is magnified 10 times what the human eye sees. Also, there is built-in tremor-filtration tech that helps the surgeon to move each instrument with smooth precision. Overall, the company’s surgical robotic offerings have been a great addition to the health care industry.
In fact, Intuitive recently announced the release of preliminary data from 69 subjects participating in a post-market, multi-center clinical trial of its Ion endoluminal system. The data showed encouraging diagnostic yield for both smaller and larger nodules while maintaining a strong safety profile. Safe to say, the technology helps physicians to safely gain access to the appropriate portions of the lung to biopsy nodules. Given all these, do you think ISRG stock is a top surgical robotics stock to watch?
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Globus Medical is a medical device company. Essentially, it focuses on implants that promote healing in patients with musculoskeletal disorders. The company groups its products into two categories, Musculoskeletal Solutions, and Enabling Technologies. Its Enabling Technologies Solution comprises imaging, navigation, and robotics solutions for assisted surgery. These are computer-assisted intelligent systems meant for improving a surgeon’s capabilities.
In fact, the company announced the first surgery performed with the ExcelsiusGPS Cranial Solutions last month. This is a robot-assisted navigated Deep Brain Stimulation (DBS). The ExcelsiusGPS platform is designed by surgeons in collaboration with engineers. Hence, it eliminates the need for the standard arc and frame in the procedure which improves efficiency while removing an aspect of potential human error.
Financially, the company has recently been firing on all cylinders. During its second quarter, it reported net revenues of a record $251 million, an increase of 68.6% year-over-year. Also, its GAAP net income for the quarter was $41.5 million, almost tripling that of the previous year’s quarter. So, would you consider investing in GMED stock ahead of its earnings report on November 4?
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Smith & Nephew
Last but not least, another dominant name in the surgical robotics industry now would be Smith & Nephew or SNN for short. In general, SNN identifies as a portfolio medical tech firm that manufactures medical equipment. For the most part, the company primarily operates via three main divisions. These are its orthopedics, advanced wound management, and sports medicine & ENT sections.
For a sense of scale, the company now operates in over 100 countries worldwide and raked in a total annual revenue of $4.6 billion in 2020. Considering all of this, could SNN stock be a good buy now? Well, for one thing, we could look at the company’s latest financials to get a clearer understanding of this. In its latest fiscal quarter report, the company posted solid figures across the board. To highlight, total revenue was $1.3 billion for the quarter, marking a sizable 27% year-over-year rise.
Additionally, SNN also doubled its net income and earnings per share over the same period as well. CEO Roland Diggelmann said, “Looking ahead, we believe we are well-positioned to deliver on our guidance for this year. We also remain focused on setting ourselves up for sustainable success in the medium-term, prioritizing revenue growth from our R&D pipeline, unlocking further value from acquisitions, and driving commercial and operational excellence.” With all this in mind, would SNN stock be a viable investment now?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.