Yahoo Finance Ekso Bionics' (EKSO) New Partnership to Aid Its Ekso Devices
Ekso Bionics EKSO recently announced a research partnership with Shepherd Center, a renowned rehabilitation hospital in Atlanta, to incorporate EksoNR and Ekso Indego devices across its rehabilitation and community network.
Shepherd Center is known to offer top-notch clinical care, research, and family support to patients with the most complicated illnesses, such as multiple sclerosis, traumatic amputations, spinal cord and brain injuries, stroke, and pain.
More on the Partnership
Ekso Bionics and Shepherd Center will collaborate to create a training and research program for the Ekso devices as part of their relationship. It is anticipated that the experience will enable the understanding of the best ways to incorporate Ekso device training into clinical programs and support individual Ekso Indego Personal device use.
Shepherd Center is set to work with Ekso Bionics to design a training program for the Ekso Indego Personal device, which Ekso Bionics expects will offer individuals the opportunity to experience and explore exoskeleton technology, empowering those interested in purchasing a home device with the knowledge and skills needed for successful integration into their daily lives.
With its expertise in spinal cord injury (SCI) and its programming, Shepherd Center is in a unique position to study the potential benefits of integrating exoskeleton technology into healthcare from the hospital to the patient's home.
More on Ekso Devices
EksoNR is a rehabilitation device that assists patients in standing and walking. It works with healthcare professionals to provide the required support to the patient's trunk and legs, encouraging appropriate movement patterns throughout the entire physical rehabilitation process. It also presents challenges to patients as they get closer to leaving the EksoNR rehabilitation facility and returning to their daily lives.
Ekso Indego Therapy gives medical professionals a means to offer patients who have had a stroke or spinal cord injury customized gait rehabilitation. A particular robotic-aided walking pattern can be taught using two different software packages, and assessments can be performed after the gait pattern has been eliminated. The easy-to-use iOS application allows for adjustments of numerous settings and viewing of analytics on patient and device performance can be used to improve treatment plans.
Ekso Indego Personal enables those with spinal cord injuries a new level of functional independence and upright mobility in their home and community. With its modular design of five interconnecting components and only weighing 29 lbs, Ekso Indego Personal is designed for ease of use and intuitive operation. It offers an easy set-up and a quick learning curve with most users standing and walking their first time in the device.
Industry Prospects
Per a report by Grand View Research, the global exoskeleton market size, which was valued at $419.5 million in 2023, is expected to witness a growth rate of 16.6% from 2024 to 2030.
Rapid technological advancements in the global market are expected to boost the demand for exoskeletons. Increasing popularity and the growing adoption of exoskeletons by companies are expected to contribute to market growth. Furthermore, the increasing rate of incidence of SCI is expected to drive the demand across global markets.
Price Performance
For the past six months, EKSO’s shares have plunged 39.5% against the industry’s rise of 4.4%. The S&P 500 increased 14.3% in the same time frame.
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Zacks Rank & Other Stocks to Consider
EKSO carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space that have announced quarterly results are DaVita DVA, Ecolab ECL and Universal Health Services UHS.
DaVita, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Universal Health Services has an Earnings ESP of +2.91% and a Zacks Rank #2 at present. UHS has an estimated earnings growth rate of 30.5% for 2024.
UHS’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.12%.
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Ecolab Inc. (ECL) : Free Stock Analysis Report
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Ekso Bionics Holdings, Inc. (EKSO) : Free Stock Analysis Report
