Top 5 NASDAQ Medical Device Stocks of 2023

Yr-to-date achieve: 540.43 p.c; market cap: US$232.348 million; present share worth: US$8.84

The primary prime NASDAQ medical system inventory on our listing is commercial-stage NeuroPace. The corporate’s RNS System is the primary and solely commercially obtainable, brain-responsive platform for the therapy of drug-resistant epileptic seizures. The platform additionally has the potential to deal with sufferers with different mind issues.

NeuroPace’s share worth gained a lot ahead momentum within the fourth quarter of this 12 months, rising to a year-to-date excessive of US$10.30 on December twentieth. In October, the corporate introduced the launch of various enhancements to the RNS System designed to simplify its use by each sufferers and clinicians to enhance outcomes. Quickly after, NeuroPace launched its Q3 2023 financials, displaying a 47 p.c improve in revenues over the identical interval final 12 months. Because of this, the corporate elevated its full-year income steerage to US$62.5 million-US$63.5 million, up from US$59 million-US$61 million.

Yr-to-date achieve: 339.87 p.c; market cap: US$670.205 million; present share worth: US$12.18

Novel bioelectric drugs firm Pulse Biosciences’ proprietary CellFX Nanosecond Pulsed Discipline Ablation (nsPFA) expertise is designed to deal with atrial fibrillation. The corporate believes there could also be a number of different functions in cardiology for nsPFA.

Whereas shares for Pulse Biosciences dipped practically 50 p.c to the US$4 stage within the third quarter of the 12 months. Nonetheless, This fall introduced a giant increase to the inventory which reached its highest worth for the 12 months at US$13.05 on December nineteenth. The corporate filed a premarket notification 510(k) to the FDA for its novel CellFX nsPFA percutaneous electrode in November. The next month, Pulse Biosciences accomplished the primary 5 procedures in its first-in-human feasibility study of its CellFX nsPFA cardiac catheter.

Yr-to-date achieve: 88.88 p.c; market cap: US$319 million; present share worth: US$12.49

Subsequent up on our prime NASDAQ medical system inventory listing is AVITA Medical, a regenerative drugs firm creating and commercializing first-in-class units and autologous mobile therapies for pores and skin restoration.

AVITA has had just a few FDA approvals for its merchandise in mid-year 2023, together with a premarket approval (PMA) supplement for the usage of its RECELL® System to deal with full-thickness pores and skin defects; and PMA of its RECELL® System for the therapy of vitiligo, the primary FDA-approved therapeutic system providing a one-time therapy on the point-of-care.

After beginning out 2023 with its share worth at a low of US$6.32, the inventory went on to hit its highest worth for the 12 months at US$21.70 on July seventeenth. In November, AVITA introduced its revenues for Q3 2023 grew by 51 p.c over the identical interval within the earlier 12 months.

Yr-to-date achieve: 35.55 p.c; market cap: US$277.626 million; present share worth: US$2.86

Accuray develops and commercializes radiation remedy expertise aimed toward oncology to neuro-radiosurgery, with the potential for functions in further indications. Its merchandise embrace the CyberKnife® and TomoTherapy® platforms.

In June, the corporate announced its inclusion within the Russell 2000® Index and the broad-market Russell 3000® Index. Later in the summertime, Accuray received 510(k) clearance from the FDA for its VitalHold™ breast package deal on the Radixact® System. The corporate’s inventory reached a year-to-date excessive of US$4.29 on July thirty first.

Later within the 12 months, the Tomo® C radiation remedy system was approved by the Chinese language Nationwide Medical Merchandise Administration; and the corporate initiated sales of the VitalHold™ package deal supporting surface-guided radiation remedy on the Radixact® System in Japan. Accuray lately reported financials for its Q1 2024 fiscal 12 months, highlighting a net revenue improve of seven.7 p.c over the identical interval within the earlier 12 months to achieve US$103.9 million.

Yr-to-date achieve: 34.08 p.c; market cap: US$516.02 million; present share worth: US$24.98

Final on this listing of NASDAQ medical system shares is CVRx, the developer of the world’s first FDA-approved neuromodulation system to deal with signs of coronary heart failure. The corporate’s proprietary novel baroreceptor neuromodulation therapies are designed to deal with imbalances of the autonomic nervous system that may result in coronary heart failure and different cardiovascular ailments.

In its Q3 2023 financials, CVRx reported total revenues of US$10.5 million, a rise of 70 p.c over the prior 12 months quarter. On December 14, CVRx noticed its share worth hit its highest level in 2023, rising to US$25.24.