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Medtronic's (MDT) MiniMed 780G System Favored by New Data
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Medtronic plc (MDT - Free Report) recently presented a robust collection of new clinical and real-world data on its MiniMed 780G insulin pump system. The results were demonstrated at the 83rd American Diabetes Association (“ADA”) Scientific Sessions in San Diego, CA.
The latest data sets showed that the proprietary Meal Detection technology of MiniMed 780G supported Time in Range outcomes, which exceeded consensus guidelines of 70%. Additionally, the system helps to reduce the percentage of time spent in hyperglycemia in children and adults.
News in Detail
The data sets for the study evaluated the system across a wide range of users, including historically challenging younger patients not meeting glycemic goals and individuals using a simplified meal announcement, leveraging fixed carbohydrate amounts instead of exact carb calculations.
Image Source: Zacks Investment Research
The study outcome suggested that the reduced accuracy in carb counting can be overcome by the increased automated insulin delivery provided by the MiniMed 780G system. The system also benefits those who cannot or do not input their carbs precisely, to reach glycemic goals and reduce hyperglycemia.
The real-world evidence of pediatric users in Europe and Latin America using the MiniMed 780G system with recommended settings proved to be strong. A separate analysis of the real-world evidence of pediatric users in Europe demonstrated improved glycemic performance in SmartGuard technology regardless of baseline glycemic control.
Additionally, the real-world data on the Medtronic Extended Infusion Set mirrors results from the U.S. pivotal trial and delivers a reduced user burden through less frequent infusion set changes.
The favorable impact of the MiniMed 780G system on the clinical outcome and the quality of life is evidenced by MDT’s randomized controlled ADAPT study and the growing body of real-world evidence from around the world.
Industry Prospects
Per a Research report, the global automated insulin delivery system market was valued at $821.4 million in 2023 and is expected to witness a CAGR of 9.8% by 2030.
Recent Developments
Earlier in May 2023, Medtronic entered into a definitive agreement to acquire EOFlow Co. Ltd., the manufacturer of the EOPatch device. The acquisition will expand the company's ability to serve more people living with diabetes around the world within one seamless Medtronic ecosystem of support.
During the same month, MDT received FDA approval for its Micra AV2 and Micra VR2 — the next generation of its industry-leading miniaturized, leadless pacemakers. The new pacemakers provide longer battery life and easier programming than the prior Micra pacemakers.
Price Performance
In the past six months, MDT shares have increased 12.8% compared with the industry’s rise of 5.9%.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold).
Penumbra’s stock has risen 152% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have improved 40.6% in the past year against the industry’s 23.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS have increased from $3.43 to $3.55 for 2023 in the past 30 days. Shares of the company have increased 29.9% in the past year against the industry’s 23.8% decline.
HAE’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.24%.
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Medtronic's (MDT) MiniMed 780G System Favored by New Data
Medtronic plc (MDT - Free Report) recently presented a robust collection of new clinical and real-world data on its MiniMed 780G insulin pump system. The results were demonstrated at the 83rd American Diabetes Association (“ADA”) Scientific Sessions in San Diego, CA.
The latest data sets showed that the proprietary Meal Detection technology of MiniMed 780G supported Time in Range outcomes, which exceeded consensus guidelines of 70%. Additionally, the system helps to reduce the percentage of time spent in hyperglycemia in children and adults.
News in Detail
The data sets for the study evaluated the system across a wide range of users, including historically challenging younger patients not meeting glycemic goals and individuals using a simplified meal announcement, leveraging fixed carbohydrate amounts instead of exact carb calculations.
Image Source: Zacks Investment Research
The study outcome suggested that the reduced accuracy in carb counting can be overcome by the increased automated insulin delivery provided by the MiniMed 780G system. The system also benefits those who cannot or do not input their carbs precisely, to reach glycemic goals and reduce hyperglycemia.
The real-world evidence of pediatric users in Europe and Latin America using the MiniMed 780G system with recommended settings proved to be strong. A separate analysis of the real-world evidence of pediatric users in Europe demonstrated improved glycemic performance in SmartGuard technology regardless of baseline glycemic control.
Additionally, the real-world data on the Medtronic Extended Infusion Set mirrors results from the U.S. pivotal trial and delivers a reduced user burden through less frequent infusion set changes.
The favorable impact of the MiniMed 780G system on the clinical outcome and the quality of life is evidenced by MDT’s randomized controlled ADAPT study and the growing body of real-world evidence from around the world.
Industry Prospects
Per a Research report, the global automated insulin delivery system market was valued at $821.4 million in 2023 and is expected to witness a CAGR of 9.8% by 2030.
Recent Developments
Earlier in May 2023, Medtronic entered into a definitive agreement to acquire EOFlow Co. Ltd., the manufacturer of the EOPatch device. The acquisition will expand the company's ability to serve more people living with diabetes around the world within one seamless Medtronic ecosystem of support.
During the same month, MDT received FDA approval for its Micra AV2 and Micra VR2 — the next generation of its industry-leading miniaturized, leadless pacemakers. The new pacemakers provide longer battery life and easier programming than the prior Micra pacemakers.
Price Performance
In the past six months, MDT shares have increased 12.8% compared with the industry’s rise of 5.9%.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Penumbra (PEN - Free Report) , Lantheus (LNTH - Free Report) and Haemonetics (HAE - Free Report) . While Penumbra and Lantheus each sport a Zacks Rank #1 (Strong Buy), Haemonetics carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has risen 152% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat estimates in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have improved 40.6% in the past year against the industry’s 23.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS have increased from $3.43 to $3.55 for 2023 in the past 30 days. Shares of the company have increased 29.9% in the past year against the industry’s 23.8% decline.
HAE’s earnings beat estimates in each of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.24%.