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Medtronic (MDT) Wins FDA Approval for CRT-P SureScan Suite
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Medical device major Medtronic plc (MDT - Free Report) recently won FDA approval for a portfolio of quadripolar cardiac resynchronization therapy-pacemakers (CRT-Ps) that improve therapy delivery for patients suffering from heart failure. These devices also allow patients to receive MRI (magnetic resonance imaging) scans in either 1.5 or 3 Tesla (T) machines.
The three types of Medtronic’s CRT-Ps – Percepta Quad CRT-P MRI SureScan, Serena Quad CRT-P MRI SureScan and Solara Quad CRT-P MRI SureScan – are expected to be commercially available in the U.S. soon.
Over the last three months, Medtronic has been trading above the Zacks categorized Medical - Products industry. The stock has gained 7.9%, compared to 6.8% of the broader industry. We believe that the new regulatory approval for Medtronic’s suite of pacemakers will boost the company’s share price in the near term.
Notably, these pacemakers allow clinicians to provide more personalized therapy treatment options. The ability of these pacemakers to automatically adjust pacing to meet patients’ needs, even those who are among the most difficult to treat, shows how advanced implanted heart device technology has become.
All three CRT-Ps are also compatible with Attain Performa MRI SureScan Quadripolar Leads, which include short bipolar spacing to reduce the occurrence of phrenic nerve stimulation.
Of late, Medtronic’s Cardiac & Vascular Group has made several recent developments which should boost its top line in the upcoming quarter. In Apr 2017, the company received FDA clearance for Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, CoreValve Evolut PRO valve and Melody Transcatheter Pulmonary Valve (TPV) for less-invasive treatment.
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 carries a Zacks Rank #3 (Hold). Better-ranked medical stocks include Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Baxter International Inc. (BAX - Free Report) . Regeneron Pharmaceuticals, Bio-Rad Laboratories and Baxter International, sport a Zacks Rank 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Regeneron Pharmaceuticals rose 19.2% in the last one year, in comparison to the S&P 500’s 17.1%. It has a trailing four-quarter average positive earnings surprise of 0.45%.
Bio-Rad Laboratories surged 54.5% in the past one year, better than the S&P 500 mark. It has a four-quarter average earnings surprise of 13.10%.
Baxter International rose 23.8% in the last one year, in comparison to the S&P 500 mark. It has a four-quarter average positive earnings surprise of 17.14%.
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Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500. See today's Zacks "Strong Sells" absolutely free >>
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Medtronic (MDT) Wins FDA Approval for CRT-P SureScan Suite
Medical device major Medtronic plc (MDT - Free Report) recently won FDA approval for a portfolio of quadripolar cardiac resynchronization therapy-pacemakers (CRT-Ps) that improve therapy delivery for patients suffering from heart failure. These devices also allow patients to receive MRI (magnetic resonance imaging) scans in either 1.5 or 3 Tesla (T) machines.
The three types of Medtronic’s CRT-Ps – Percepta Quad CRT-P MRI SureScan, Serena Quad CRT-P MRI SureScan and Solara Quad CRT-P MRI SureScan – are expected to be commercially available in the U.S. soon.
Over the last three months, Medtronic has been trading above the Zacks categorized Medical - Products industry. The stock has gained 7.9%, compared to 6.8% of the broader industry. We believe that the new regulatory approval for Medtronic’s suite of pacemakers will boost the company’s share price in the near term.
Notably, these pacemakers allow clinicians to provide more personalized therapy treatment options. The ability of these pacemakers to automatically adjust pacing to meet patients’ needs, even those who are among the most difficult to treat, shows how advanced implanted heart device technology has become.
All three CRT-Ps are also compatible with Attain Performa MRI SureScan Quadripolar Leads, which include short bipolar spacing to reduce the occurrence of phrenic nerve stimulation.
Of late, Medtronic’s Cardiac & Vascular Group has made several recent developments which should boost its top line in the upcoming quarter. In Apr 2017, the company received FDA clearance for Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, CoreValve Evolut PRO valve and Melody Transcatheter Pulmonary Valve (TPV) for less-invasive treatment.
Medtronic PLC Price
Medtronic PLC Price | Medtronic PLC Quote
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 carries a Zacks Rank #3 (Hold). Better-ranked medical stocks include Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Baxter International Inc. (BAX - Free Report) . Regeneron Pharmaceuticals, Bio-Rad Laboratories and Baxter International, sport a Zacks Rank 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Regeneron Pharmaceuticals rose 19.2% in the last one year, in comparison to the S&P 500’s 17.1%. It has a trailing four-quarter average positive earnings surprise of 0.45%.
Bio-Rad Laboratories surged 54.5% in the past one year, better than the S&P 500 mark. It has a four-quarter average earnings surprise of 13.10%.
Baxter International rose 23.8% in the last one year, in comparison to the S&P 500 mark. It has a four-quarter average positive earnings surprise of 17.14%.
Sell These Stocks Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500. See today's Zacks "Strong Sells" absolutely free >>