Boston Scientific Corporation BSX recently received FDA approval for its newest generation advancement in image guided programming software for deep brain stimulation, Vercise Neural Navigator 5 Software. The Vercise Neural Navigator 5 with STIMVIEW XT Technology has been developed to offer intuitive therapy management.
The latest approval will fortify Boston Scientific’s Neuromodulation business, which is part of MedSurg segment.
More on Vercise Software
The newest addition to Boston Scientific’s Vercise Genus Deep Brain Stimulation (DBS) Systems' fully integrated range of image guided programming solutions has been created in partnership with Brainlab AG, a renowned software-driven medical technology business. The software has shown significant reduction in programming time (56%), and also provides real-time visualization and stimulation of each patient's brain anatomy.
Vercise Neural Navigator 5 Software has an improved user interface that presents patient data in an easier-to-understand style and allows physicians’ access to sophisticated settings for better therapy delivery. The software's adaptability is intended to enable better management of each patient's changing needs at any stage of their condition.
Benefits of New Software
When used with DBS Systems, Vercise Neural Navigator 5 Software can give clinicians clear, actionable data for effective programming to treat patients with Parkinson's disease or essential tremor. The software’s additional capabilities are anticipated to significantly cut down on time required for stimulation adjustment and minimize any adverse effects, which maximize therapy advantages for each patient.
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As part of its commitment to advancing technology for people with neurological diseases, Boston Scientific has created useful tools to assist doctors in giving their patients personalized treatments. By streamlining the procedure, Vercise Neural Navigator 5 Software will increase the amount of time that doctors and patients can engage.
Industry Prospects
Per a report by Grand View Research, global deep brain-stimulation-devices market size was valued at $1.05 billion in 2021 and is expected to witness a CAGR of 9.8% by 2030. Increasing number of patients suffering from involuntary movements associated with Parkinson’s disease, dystonia and multiple sclerosis is expected to drive market growth.
Progress Within BSX’s Business
Boston Scientific ended the first quarter of 2023 with better-than-expected earnings and revenues. The company registered a year-over-year improvement in organic sales, indicating a strong rebound in the legacy business even amid several macroeconomic issues. Organic revenues at each of its core business segments and geographies were up in the reported quarter.
Geographically, the United States grew 13% year over year operationally inclusive of 140 basis point tailwind from the acquisition of Baylis with notable organic strength across each business units. Europe, Middle East and Africa grew 20% on an operational basis with nearly every market growing double digits in the quarter.
Within Neuromodulation, organic growth was 14% in the reported quarter. Boston Scientific’s pain business grew high single digits. This was driven by strong SCS performance due to its innovative Alpha portfolio with fast therapy in cognitive suite of digital tools supporting patient activation. The Brain franchise grew double digits in the quarter driven by new product launches.
Price Performance
In the past six months, BSX’s shares have gained 17.6% against the industry’s growth of 5.2%.
Zacks Rank
Boston Scientific currently carries a Zacks Rank #2 (Buy).
Other Key Picks
Some other top-ranked stocks from the broader medical space are Alcon ALC, Perrigo Company PRGO and Hologic HOLX, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.85%.
ALC’s shares have gained 21.1% in past one year compared with the industry’s 18.5% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. Strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed twice, delivering an average negative surprise of 0.79%.
PRGO’s shares have lost 13.5% in past one year against the industry’s 18.8% decline.
Hologic has an estimated earnings growth rate of 4.1% for fiscal 2024. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 17.3% in past one year compared with the industry’s 18.5% growth.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>Boston Scientific Corporation (BSX) : Free Stock Analysis Report
Hologic, Inc. (HOLX) : Free Stock Analysis Report
Alcon (ALC) : Free Stock Analysis Report
Perrigo Company plc (PRGO) : Free Stock Analysis Report
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