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Medtronic HVAD System Results Positive for Long-Term Therapy
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Medical device major Medtronic plc (MDT - Free Report) recently released results of its ENDURANCE Supplemental trial. The study evaluated the company’s HVAD System as a destination (long-term) therapy for patients requiring heart pumps (left ventricular assist devices or LVAD). The presentation was made at a late-breaking clinical trial session of the 2017 International Society for Heart and Lung Transplantation (ISHLT) Scientific Meeting in San Diego.
Last year, Medtronic’s HVAD System received CE Mark for a less-invasive implant procedure in patients with advanced heart failure. The HVAD System is the only centrifugal LVAD approved for implantation via this new thoracotomy procedure.
Medtronic has been performing reasonably well in terms of price. The company’s share price has been trading above the Zacks categorized Medical - Products industry for the last three months. The stock rallied 8.7%, compared with the broader industry’s gain of 7.9%. We expect the latest positive HVAD System data to enhance heart failure business prospects and boost the share price further.
Notably, the HVAD System is indicated for use as a bridge to cardiac transplantation in patients having risk of death from refractory end-stage left ventricular heart failure.
The latest ENDURANCE Supplemental trial evaluated the incidence of neurologic events in patients who have received destination therapy through the HVAD System. The study showed that the HVAD System can reduce stroke rates and optimize a patient’s blood pressure.
Compared to the earlier ENDURANCE Destination Therapy trial, the current trial shows more effectiveness of HVAD System. The trial demonstrated a 24.7% drop in overall stroke and transient ischemic attack (TIA) incidence and 50% reduction in hemorrhagic stroke in patients receiving HVAD System support.
Thus, the company plans to offer this therapy to patients in the U.S. who are ineligible for a heart transplant and rely upon mechanical circulatory support as a long-term destination therapy.
Medtronic has submitted its PMA application to the FDA for a destination therapy indication for the HVAD System based on the ENDURANCE and ENDURANCE Supplemental trial datasets.
Over more than a year, a consistently and gradually stabilizing trend is being observed in the global heart failure market. Given the huge and growing market for minimally invasive procedures, we believe the latest development at Medtronic is quite encouraging. As per a report by GlobalData, the global heart failure market is set to reach a worth of $11.8 billion by 2025, at a CAGR of 13.7%.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader Medical space include Inogen, Inc. (INGN - Free Report) , Orasure Technologies, Inc. (OSUR - Free Report) and ZELTIQ Aesthetics, Inc. . While Inogen sports a Zacks Rank #1 (Strong Buy), Orasure and ZELTIQ Aesthetics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen gained 62.2% in the last one year compared with the S&P 500’s gain of 15.2%. The company reported a stellar four-quarter positive average earnings surprise of over 49.08%.
Orasure surged 73.4% in the last one year compared with the S&P 500’s gain. Its four-quarter average earnings surprise was a positive 123.5%.
ZELTIQ Aesthetics gained over 88.7% in the past one year, better than the S&P 500 mark. It posted a trailing four-quarter positive average earnings surprise of 12.03%.
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Medtronic HVAD System Results Positive for Long-Term Therapy
Medical device major Medtronic plc (MDT - Free Report) recently released results of its ENDURANCE Supplemental trial. The study evaluated the company’s HVAD System as a destination (long-term) therapy for patients requiring heart pumps (left ventricular assist devices or LVAD). The presentation was made at a late-breaking clinical trial session of the 2017 International Society for Heart and Lung Transplantation (ISHLT) Scientific Meeting in San Diego.
Last year, Medtronic’s HVAD System received CE Mark for a less-invasive implant procedure in patients with advanced heart failure. The HVAD System is the only centrifugal LVAD approved for implantation via this new thoracotomy procedure.
Medtronic has been performing reasonably well in terms of price. The company’s share price has been trading above the Zacks categorized Medical - Products industry for the last three months. The stock rallied 8.7%, compared with the broader industry’s gain of 7.9%. We expect the latest positive HVAD System data to enhance heart failure business prospects and boost the share price further.
Notably, the HVAD System is indicated for use as a bridge to cardiac transplantation in patients having risk of death from refractory end-stage left ventricular heart failure.
The latest ENDURANCE Supplemental trial evaluated the incidence of neurologic events in patients who have received destination therapy through the HVAD System. The study showed that the HVAD System can reduce stroke rates and optimize a patient’s blood pressure.
Medtronic PLC Price
Medtronic PLC Price | Medtronic PLC Quote
Compared to the earlier ENDURANCE Destination Therapy trial, the current trial shows more effectiveness of HVAD System. The trial demonstrated a 24.7% drop in overall stroke and transient ischemic attack (TIA) incidence and 50% reduction in hemorrhagic stroke in patients receiving HVAD System support.
Thus, the company plans to offer this therapy to patients in the U.S. who are ineligible for a heart transplant and rely upon mechanical circulatory support as a long-term destination therapy.
Medtronic has submitted its PMA application to the FDA for a destination therapy indication for the HVAD System based on the ENDURANCE and ENDURANCE Supplemental trial datasets.
Over more than a year, a consistently and gradually stabilizing trend is being observed in the global heart failure market. Given the huge and growing market for minimally invasive procedures, we believe the latest development at Medtronic is quite encouraging. As per a report by GlobalData, the global heart failure market is set to reach a worth of $11.8 billion by 2025, at a CAGR of 13.7%.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader Medical space include Inogen, Inc. (INGN - Free Report) , Orasure Technologies, Inc. (OSUR - Free Report) and ZELTIQ Aesthetics, Inc. . While Inogen sports a Zacks Rank #1 (Strong Buy), Orasure and ZELTIQ Aesthetics carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Inogen gained 62.2% in the last one year compared with the S&P 500’s gain of 15.2%. The company reported a stellar four-quarter positive average earnings surprise of over 49.08%.
Orasure surged 73.4% in the last one year compared with the S&P 500’s gain. Its four-quarter average earnings surprise was a positive 123.5%.
ZELTIQ Aesthetics gained over 88.7% in the past one year, better than the S&P 500 mark. It posted a trailing four-quarter positive average earnings surprise of 12.03%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>