Zimmer Biomet Holdings, Inc. (NYSE:ZBH) recently received the FDA’s 510(k) clearance for its meniscal repair device JuggerStitch. This next-generation machine will now be commercially available in the market and help broaden the company’s sports medicine portfolio.
Meniscal Repair in Detail
Going by UW Medicine’s definition, “arthroscopic meniscus repair is an outpatient surgical procedure to repair torn knee cartilage. The torn meniscus is repaired by a variety of minimally invasive techniques and requires postoperative protection to allow healing.”
Athletes involved in contact sports often suffer meniscus tears.
How JuggerStitch is Superior
Per Zimmer Biomet, traditional meniscal fixator repair devices use hard plastic anchors and surface knots. This can cause damage in cartilage and also increases the risk of later complications.
On the contrary, the JuggerStitch equipment has two soft anchors connected by a knotless, self-locking suture loop. This claims to offer a less invasive, all-suture, knotless approach to meniscal repair procedures, thereby improving tissue preservation and enhancing the surgeon's control of the tissue compression at the repair site compared to traditional implants.
Market Potential
According to a Persistence Market Researchreport, the global meniscus repair systems market is expected to reach $771 million in 2028 at a CAGR of 8.7%. Given the current market growth prospects, the latest clearance seems well-timed.
Some Recent Developments
In September, Zimmer Biometalso got the FDA 510(k) consent for its flagship Persona Revision Knee System to facilitate revision knee replacement procedures. With this launch, the company expects to expand its knee replacement product offerings.
In August, the company won the FDA approval for The Tether to be used in treating scoliosis, which will provide young surgical patients with a fusion-less alternative. This was the first approval nod in the last 15 years for a device of humanitarian use in spinal pediatrics.
Share Price Performance
The company has rallied 10.8% in the past year compared with the industry’s growth of 5.6% and the S&P 500 Index’s gain of 4.7%.
Zacks Rank & Stocks to Consider
Currently, Zimmer Biomet carries a Zacks Rank #3 (Hold). A few better better-ranked stocks from the broader medical space are Baxter International Inc. (NYSE:BAX) , GW Pharmaceuticals PLC (NASDAQ:GWPH) and Neurotrope, Inc. (NASDAQ:NTRP) .
Baxter has a Zacks Rank #2 (Buy) and a projected long-term earnings growth rate of 12.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GW Pharmaceuticals estimates third-quarter earnings growth rate to be 72.9%. It currently sports a Zacks Rank #1.
Neurotrope has a Zacks Rank of 2 and a projected third-quarter earnings growth rate of 27.7%.
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Zimmer Biomet Holdings, Inc. (ZBH): Free Stock Analysis Report
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Neurotrope, Inc. (NTRP): Free Stock Analysis Report
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