Inspira Stock to Gain From its Appearance at Annual ELSO Conference
Inspira Technologies OXY B.H.N. Ltd. IINN recently announced its significant appearance at the 34th Annual Extracorporeal Life Support Organization (“ELSO”) conference in Detroit, MI. The ELSO conference will take place from Sept. 29 to Sept.30, 2024.
At the conference, IINN will present its latest and future technologies, highlighting the company’s commitment to innovation in extracorporeal blood circulation technologies.
Impact of the News on IINN Stock
Following the news, shares of IINN rose 0.8% to $1.22 yesterday. Inspira is continuously working to transform the respiratory and life-support sectors through its innovative oxygenation and blood monitoring technologies. Moreover, the company is expected to gain a high level of synergies from its expanding INSPIRA ART pipeline. Accordingly, we expect the market to remain positive around the latest announcement.
IINN currently has a market capitalization of $22.6 million. It has an earnings yield of 24.7%, much higher than the industry’s yield of 12.5%.
More on the News
In the conference, attendees will have the opportunity to engage in interactive demonstrations and presentations of the company's INSPIRA ART100 system. This system is its latest innovation, which has received Food & Drug Administration (‘FDA”) clearance for use in cardiopulmonary bypass procedures. This is soon to be deployed to the U.S. market.
Inspira’s U.S sales team and the VP of Product - Mr. Tomer Carmeli together with the company's team of professionals, including medical director - Dr. Dekel Stavi, MD and CTO - Dr. Daniella Yeheskely-Hayon PhD, will be available to address questions and discuss the potential impact of these innovations on patient care. The company will be accompanied by its U.S. local sales team - Glo-Med Networks Inc.
Other Recent Developments by Inspira
Earlier this month, Inspira secured an additional U.S. Patent approval for the VORTX orbiting blood oxygenation delivery system - a fundamental technology of the INSPIRA ART device. With this addition, the total number of claims deemed novel relating to the core technology of the device comes to 32.
In August, the company announced the FDA listing of its INSPIRA CART. This medical cart, designed for use with the INSPIRA ART100 system, aims to enhance healthcare delivery in operating rooms during cardiopulmonary bypass procedures.
In July, Inspira introduced the INSPIRA Cardi-ART - a portable modular device. The device is currently under development. INSPIRA Cardi-ART is being designed to support vital organ oxygenation during cardiac arrest to treat patients both in and outside of hospitals.
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Industry Prospects Favors Inspira
Per the Delveinsight report, the cardiopulmonary bypass equipment market was valued at $405.2 million in 2023 and is expected to reach $516.8 million by 2030, growing at a compound rate of 4.14%. Key factors responsible for the market surge include a rise in the prevalence of cardiovascular and respiratory diseases globally which has led to the increasing number of surgical procedures.
Price Performance of Inspira
Shares of Inspira have increased 15.1% so far this year compared with the industry’s 9.2% growth.
IINN’s Zacks Rank and Key Picks
IINN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are TransMedics Group TMDX, AxoGen AXGN and OrthoPediatrics KIDS. While TransMedics sports a Zacks Rank #1 (Strong Buy), AxoGen and OrthoPediatrics carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 184.4% in the past year compared with the industry’s 17.5% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 207% in the past year compared with the industry’s 21% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 15.9% against the industry’s 21% growth. In the last reported quarter, KIDS delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
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