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Abbott (ABT) Transcatheter Valve Devices' Study Data Favorable

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Abbott Laboratories (ABT - Free Report) presented two late-breaking study data evaluating the company’s TriClip — a first-of-its-kind minimally invasive tricuspid heart valve repair device, and Navitor — the company's newest-generation transcatheter aortic valve implantation (TAVI) system. The company also demonstrated new data for MitraClip and Amplatzer Amulet.

The data were presented at EuroPCR, the annual meeting of the European Association of Percutaneous Cardiovascular Interventions, organized in Paris between May 17 to May 20, 2022.

The recent developments are likely to fortify Abbott’s structural heart business.

Study Outcome Details

The first 30-day results from the TriClip bRIGHT study, highlighted in a late-breaking data presentation, demonstrated that the TriClip and TriClip G4 transcatheter edge-to-edge repair systems considerably minimize tricuspid regurgitation and substantially enhance the quality of life across a wide range of anatomically diverse patients.

Next, the results from a multicenter, international, single-arm study of the Navitor TAVI system, with an active sealing cuff to minimize paravalvular leak, demonstrated improved one-year outcomes for patients with severe, symptomatic aortic stenosis who were at high or extreme surgical risk.

Other data presented at EuroPCR, including EXPAND study, demonstrated that MitraClip therapy in heart failure patients with mitral regurgitation experiences enhanced symptoms and quality of life.

 

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Moreover, results from the Amulet IDE  trial found that women and men implanted with Abbott’s Amplatzer Amulet left atrial appendage (LAA) occluder experienced similar long-term benefits from the LAA closure, which distinguishes with the perceptive that women have higher rates of early complications with the LAA closure than men.

Significance of Positive Findings

The data presented at the EuroPCR 2022 meeting reinforce Abbott’s commitment to offering structural heart solutions, supported by clinical evidence that exceeds the existing standards of care.

The 30-day late-breaking data highlighted that transcatheter edge-to-edge repair using TriClip has a huge potential to improve patients' quality of life and has entered the clinical stage with extensive usage in Europe. Further, the one-year results from the study validated that a minimally invasive TAVI procedure with a Navitor valve offers a safe and effective treatment option for patients.

Industry Prospects

Per a report by Grand View Research, the global structural heart devices market size was $4.1 billion in 2016 and is projected to grow by 2025, witnessing a CAGR of 9.15%. A rise in structural heart diseases, the development of innovative repair devices and increased demand for minimally invasive techniques are driving the market.

Notable Developments

In April 2022, Abbott announced the receipt of an FDA approval for Aveir single-chamber (VR) leadless pacemaker to treat patients with slow heart rhythms in the United States. This represents a major advancement in patient care and brings new, never-before-seen features to patients and physicians.

In February 2022, Abbott gained the FDA approval for an expanded indication for its CardioMEMS HF System to support the care of heart failure patients. The CardioMEMS HF System has been found to reduce hospitalizations for patients with later-stage heart disease when utilized in monitoring for signs of worsening heart failure.

Price Performance

Shares of the company have lost 1.9% in a year compared with the industry's fall of 25.5%.

Zacks Rank and Key Picks

Abbott currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader medical space are UnitedHealth Group Incorporated (UNH - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and Alkermes plc (ALKS - Free Report) .

UnitedHealth, having a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Revenues of $80.1 billion outpaced the consensus mark by 14.2%.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.

Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.

Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.

Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which surpassed the Zacks Consensus Estimate of a penny. Revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently sports a Zacks Rank #1.

Alkermes has an estimated long-term growth rate of 25.1%. ALKS’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%.