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Medtronic (MDT) Reports Positive Findings Backing RDN System
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Medtronic plc (MDT - Free Report) recently announced long-term data from the first 80 patients in the SPYRAL HTN-ON MED trial. The SPYRAL HTN-ON MED is a global, randomized, sham-controlled study investigating the effectiveness and safety of renal denervation (RDN) with the radiofrequency-based Medtronic Symplicity Spyral Renal Denervation System in lowering blood pressure for hypertensive patients on one to three anti-hypertensive medications.
The Medtronic RDN procedure utilizes a minimally-invasive technique where radiofrequency energy is delivered to certain nerves near the kidneys that might become overactive and result in high blood pressure. The Symplicity Spyral RDN system has been approved for commercial use in more than 60 countries worldwide and is limited to investigational use in the United States, Japan and Canada.
The long-term data was presented at the American College of Cardiology's 71st Annual Scientific Session and published in “The Lancet” at the same time. These findings are likely to bolster the Cardiovascular Portfolio at Medtronic.
Findings of the SPYRAL HTN-ON MED Trial in Detail
The data from the first 80 patients of the SPYRAL HTN-ON MED trial showed that patients taking anti-hypertensive medications and treated with the Medtronic Symplicity Spyral RDN system continued to exhibit durable, clinically significant blood pressure reduction for three years. The findings from the study also showed procedural and long-term safety with the Symplicity Spyral renal denervation catheter, with no major device or procedural safety events during three years.
Image Source: Zacks Investment Research
Per management, the ON MED randomized data demonstrate the safety and long-term benefit of RDN against a backdrop of anti-hypertensive medication. This emphasizes on the value of other treatment alternatives like renal denervation.
More on the News
The SPYRAL HTN-ON MED trial is part of the SPYRAL HTN Global Clinical Program, which adds to RDN’s safety and efficacy data. The Medtronic RDN technology has been utilized to conduct more than 20,000 procedures, according to the real-world data from the Global Symplicity Registry and commercial experience combined.
Medtronic recently completed randomization and closed enrollment for the full SPYRAL HTN-ON MED trial cohort. The full analysis cohort will include up to 340 randomized patients and the company expects to conclude the six-month post-procedure follow-up for the full cohort in the second half of calendar year 2022.
Industry Prospects
Per a report published in Grand View Research, the global renal denervation market is expected to see a CAGR of 43.2% during 2018-2026. Factors including increasing cases of hypertension and enhanced healthcare infrastructure in emerging economies are likely to fuel market growth.
Given the substantial market prospects, the latest findings on the Medtronic Symplicity Spyral RDN System seem strategic.
Other Notable Developments
In March 2022, Medtronic inked a deal with Vizient to offer Touch Surgery Enterprise -- the first artificial intelligence (AI)-powered cloud-based video management and analytics platform for the operating room. The Touch Surgery Enterprise is part of Medtronic’s evolving portfolio of AI and robotic surgical solutions, and is compatible with the Hugo robotic-assisted surgery system.
In February 2022, the company launched the NuVent Eustachian tube dilation balloon. This development came on the heels of the FDA approval of this single-use device to treat chronic, obstructive Eustachian Tube Dysfunction. Nuvent balloons are one-time use devices featuring a flexible balloon section that allows customized placement based on patient anatomy.
Share Price Performance
The stock has outperformed its industry over the year. It has declined 8.4% compared with the industry’s 16% fall.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Owens & Minor, Inc. (OMI - Free Report) , NextGen Healthcare, Inc. and McKesson Corporation (MCK - Free Report) .
Owens & Minor has a long-term earnings growth rate of 8.8%. Owens & Minor’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 29.5%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Owens & Minor has outperformed the industry over the past year. OMI has gained 12.3% against a 16% industry decline in the said period.
NextGen has an estimated long-term growth rate of 5%. NextGen’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.5%. It currently carries a Zacks Rank #2 (Buy).
NextGen has outperformed the industry over the past year. NXGN has gained 13.9% compared with the industry’s 37% rise over the past year.
McKesson has a long-term earnings growth rate of 11.8%. McKesson’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 20.6%, on average. It presently carries a Zacks Rank #2.
McKesson has outperformed the industry over the past year. MCK has gained 59.7% in the said period compared with 8.3% growth of the industry.
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Medtronic (MDT) Reports Positive Findings Backing RDN System
Medtronic plc (MDT - Free Report) recently announced long-term data from the first 80 patients in the SPYRAL HTN-ON MED trial. The SPYRAL HTN-ON MED is a global, randomized, sham-controlled study investigating the effectiveness and safety of renal denervation (RDN) with the radiofrequency-based Medtronic Symplicity Spyral Renal Denervation System in lowering blood pressure for hypertensive patients on one to three anti-hypertensive medications.
The Medtronic RDN procedure utilizes a minimally-invasive technique where radiofrequency energy is delivered to certain nerves near the kidneys that might become overactive and result in high blood pressure. The Symplicity Spyral RDN system has been approved for commercial use in more than 60 countries worldwide and is limited to investigational use in the United States, Japan and Canada.
The long-term data was presented at the American College of Cardiology's 71st Annual Scientific Session and published in “The Lancet” at the same time. These findings are likely to bolster the Cardiovascular Portfolio at Medtronic.
Findings of the SPYRAL HTN-ON MED Trial in Detail
The data from the first 80 patients of the SPYRAL HTN-ON MED trial showed that patients taking anti-hypertensive medications and treated with the Medtronic Symplicity Spyral RDN system continued to exhibit durable, clinically significant blood pressure reduction for three years. The findings from the study also showed procedural and long-term safety with the Symplicity Spyral renal denervation catheter, with no major device or procedural safety events during three years.
Image Source: Zacks Investment Research
Per management, the ON MED randomized data demonstrate the safety and long-term benefit of RDN against a backdrop of anti-hypertensive medication. This emphasizes on the value of other treatment alternatives like renal denervation.
More on the News
The SPYRAL HTN-ON MED trial is part of the SPYRAL HTN Global Clinical Program, which adds to RDN’s safety and efficacy data. The Medtronic RDN technology has been utilized to conduct more than 20,000 procedures, according to the real-world data from the Global Symplicity Registry and commercial experience combined.
Medtronic recently completed randomization and closed enrollment for the full SPYRAL HTN-ON MED trial cohort. The full analysis cohort will include up to 340 randomized patients and the company expects to conclude the six-month post-procedure follow-up for the full cohort in the second half of calendar year 2022.
Industry Prospects
Per a report published in Grand View Research, the global renal denervation market is expected to see a CAGR of 43.2% during 2018-2026. Factors including increasing cases of hypertension and enhanced healthcare infrastructure in emerging economies are likely to fuel market growth.
Given the substantial market prospects, the latest findings on the Medtronic Symplicity Spyral RDN System seem strategic.
Other Notable Developments
In March 2022, Medtronic inked a deal with Vizient to offer Touch Surgery Enterprise -- the first artificial intelligence (AI)-powered cloud-based video management and analytics platform for the operating room. The Touch Surgery Enterprise is part of Medtronic’s evolving portfolio of AI and robotic surgical solutions, and is compatible with the Hugo robotic-assisted surgery system.
In February 2022, the company launched the NuVent Eustachian tube dilation balloon. This development came on the heels of the FDA approval of this single-use device to treat chronic, obstructive Eustachian Tube Dysfunction. Nuvent balloons are one-time use devices featuring a flexible balloon section that allows customized placement based on patient anatomy.
Share Price Performance
The stock has outperformed its industry over the year. It has declined 8.4% compared with the industry’s 16% fall.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are Owens & Minor, Inc. (OMI - Free Report) , NextGen Healthcare, Inc. and McKesson Corporation (MCK - Free Report) .
Owens & Minor has a long-term earnings growth rate of 8.8%. Owens & Minor’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 29.5%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Owens & Minor has outperformed the industry over the past year. OMI has gained 12.3% against a 16% industry decline in the said period.
NextGen has an estimated long-term growth rate of 5%. NextGen’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.5%. It currently carries a Zacks Rank #2 (Buy).
NextGen has outperformed the industry over the past year. NXGN has gained 13.9% compared with the industry’s 37% rise over the past year.
McKesson has a long-term earnings growth rate of 11.8%. McKesson’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 20.6%, on average. It presently carries a Zacks Rank #2.
McKesson has outperformed the industry over the past year. MCK has gained 59.7% in the said period compared with 8.3% growth of the industry.