ASXC - Asensus initiated Overweight at Cantor citing untapped market for laparoscopy

• The shares of medical device maker Asensus Surgical, Inc. ( NYSE: ASXC ) traded higher on Thursday after Cantor Fitzgerald launched its coverage with an Overweight rating citing its prospects in laparoscopy, a surgical procedure to access the pelvis and abdomen.
• ASXC, a company focused on robotic-assisted surgery, markets the Senhance Surgical system used for laparoscopic procedures.
• The analyst Ross Osborn cites a positive view on the laparoscopic surgery market, estimated at $56B and expected to grow at ~15% CAGR over 2019 – 30 as current market penetration stands below 15%.
• ASXC’s differentiated visualization technology “should serve to drive fast adoption,” Osborn noted, issuing a $1.50 per share target for the stock.
• During Q2 2022, 670 surgical procedures used the Senhance System, indicating a 34% YoY increase and ~3% rise from the first quarter.

For further details see: