SNN Stock Declines Despite the Launch of Its Patient-Matched Guides
Smith & Nephew SNATS SNN recently announced the launch of its TOTAL ANKLE Patient-Matched Guides. These guides are likely to provide surgeons with a predictable and efficient option to plan and perform total ankle replacement procedures.
TOTAL ANKLE Patient-Matched Guides are engineered using 3D Systems’ VSP surgical planning workflows and are designed to achieve a precise patient fit using fluoroscopic alignment cues and efficient instrumentation, and provide accuracy to plan.
However, shares of SNN lost 0.6% on Sept. 13 despite the launch of the TOTAL ANKLE Patient-Matched Guides.
More on SNN’s TOTAL ANKLE Patient-Matched Guides
Smith & Nephew collaborated with 3D Systems, a company based in South Carolina, to assist in the design and production of the TOTAL ANKLE Patient-Matched Guides. The guides also have compatibility with chamfer talar implants for Smith & Nephew’s Cadence Total Ankle System and Salto Talaris total ankle prosthesis. This provides surgeons with the versatility of implant choice for their patients.
Per both companies, all-in-one Total Ankle Patient-Matched, 3D-printed guidelines assist in achieving an exact patient fit. It also provides accuracy for a plan by utilizing fluoroscopic alignment cues and effective instruments. The user-friendly system provides tactile feedback with medical arm wrap and precise patient fit.
SNN’s Recent Collaborations & Product Launches
In August, SNN and InfuSystem Holdings announced a three-year distribution agreement for delivering Smith & Nephew's innovative RENASYS EDGE negative pressure wound therapy system to patients requiring home-based care for chronic wounds. The collaboration aims to enhance patient access to advanced wound care technology, leveraging InfuSystem’s extensive network and service capabilities.
In the same month, SNN also announced an exclusive digital and advanced analytics collaboration with Healthcare Outcomes Performance Company (HOPCo) – the world’s largest, fully integrated, musculoskeletal value-based care and outcomes management company. The collaboration is likely to enhance solutions for Ambulatory Surgical Center’s customers, physicians, and patients through HOPCo’s digital health and analytics platforms, myrecovery and Vitals.
In July, SNN announced the receipt of FDA 510(k) clearance for its new CATALYSTEM Primary Hip System. The system is made to meet the changing needs of primary hip surgery, such as the growing popularity of anterior approach procedures and the growing significance of ambulatory surgery centers.
In June, the company announced the launch of its new CORIOGRAPH Pre-Operative Planning and Modeling Services. This launch is likely to provide personalized solutions for surgeons and patients across partial and total knee arthroplasty procedures.
Favorable Industry Prospects for SNN
Per a report by Grand View Research, the global total ankle replacement market size was $709.7 million in 2023 and is projected to witness a CAGR of 8.62% from 2024-2030.
The increasing prevalence of weakened bones & reduced bone density, coupled with the growing incidence of musculoskeletal disorders, is driving the demand for total ankle replacement therapies. In addition, the growing availability of advanced ankle replacement options and rapidly developing healthcare infrastructure are anticipated to impact market growth positively.
SNN'S Price Performance
In the past six months, SNN’s shares have gained 14.1% compared with the industry’s growth of 7.6%. The S&P 500 increased 8.6% in the same time frame.
Image Source: Zacks Investment Research
SNN’s Zacks Rank & Stocks to Consider
SNN carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are Universal Health Service UHS, Quest Diagnostics DGX and ABM Industries ABM. While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Quest Diagnostics Incorporated (DGX) : Free Stock Analysis Report
Universal Health Services, Inc. (UHS) : Free Stock Analysis Report
Smith & Nephew SNATS, Inc. (SNN) : Free Stock Analysis Report
ABM Industries Incorporated (ABM) : Free Stock Analysis Report