Vuzix Corporation (VUZI) has announced receipt of orders from the virtual surgical platform Rods & Cones for Vuzix M400 Smart Glasses. Deliveries will be made each month, starting immediately, for the rest of 2021.
The orders, estimated to be worth $1.2 million, will support enhanced remote exchanges between experts and surgeons in the operating room through Vuzix M400 Smart Glasses.
Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products. Rods & Cones provides a fully virtual surgical-collaboration platform.
Rods & Cones’ platform, combined with the 13 MP phase-detect autofocus camera on the Vuzix M400 Smart Glasses, will help frontline workers in the operating theatre, ICU, and other medical facilities. It will assist instrumentalist nurses, surgeons, and healthcare professionals by providing high quality images during remote interactions between staff and patients. Additionally, this combination will allow those using the remote platform to attend numerous supported surgeries per day.
Vuzix CEO Paul Travers said, “Vuzix Smart Glasses are ideally suited to be an integral part of the Rods & Cones surgical-collaboration platform and we are pleased to help support their current, as well as future deployments across their network of healthcare professionals to deliver surgical and medical services.” (see Vuzix stock analysis on TipRanks)
Maxim Group analyst Jack Vander Aarde maintains a Hold rating for VUZI’s stock since the company’s current valuation is ahead of fundamentals. The analyst did not assign it a price target.
Commenting on Q1 results, Aarde said, “We maintain our positive view of the company’s robust growth outlook and competitive positioning within the AR enterprise market.”
Consensus among analysts on Wall Street is a Moderate Buy based on 2 Buy and 1 Hold ratings. The average analyst price target of $30.00 implies an 82.82% upside potential to current levels.
VUZI scores an 8 out of 10 on TipRank’s Smart Score rating system, implying the stock will likely outperform the market.