Catheter Precision Inc. (NYSE American: VTAK) stands out as a key player in medical technology, renowned for its groundbreaking cardiac electrophysiology products, VIVO™and LockeT. The rapid growth of the medical technology sector in recent years has caught the attention of investors, leading them to explore companies within this industry.
On April 24, Catheter Precision made headlines by securing a purchase order from HCA Healthcare Inc. (NYSE: HCA) for the LockeT product. This milestone is significant for Catheter Precision as HCA Healthcare is a top-tier healthcare services provider in the U.S., with a massive revenue of $64 billion in 2023. HCA Healthcare operates 186 hospitals across 2,400 care sites in 20 U.S. states and the United Kingdom. The potential inclusion of additional prestigious academic institutions in the near to mid-term should not be unexpected.
Catheter Precision, Inc. (NYSE American: VTAK) surged by 26.18% to $0.58 on April 24, 2024, with trading volume at 8.5x the average. It closed above key moving averages (10-, 20-, 50-, and 200-day DMA’s), which signals a strong upward trend and entering breakout territory. These positive trends, along with multiple bullish indicators, highlight VTAK as a stock worth monitoring closely. Catheter Precision, Inc. (NYSE American: VTAK) was highlighted in a Ladenburg Thalmann research report on April 5, 2023, with a buy recommendation and a $4 target price for the next year.
David Jenkins, states "We have acquired fresh insights from contacts within management circles, leading us to anticipate the addition of esteemed academic institutions in the near to mid-term." Additionally,
Jerkins, highlighted the significance of receiving the purchase order from HCA Healthcare, emphasizing HCA's value-conscious approach. Approval within HCA's healthcare system is a notable achievement, demonstrating recognition of LockeT's value by healthcare professionals. The purchase order, from an HCA-affiliated regional medical center, suggests potential usage of up to 1,000 devices yearly across various specialties. Investors may find it worthwhile to monitor Catheter Precision's stock following this development.
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