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Medtronic (MDT) Enrolls 1st Patient Trial for Hugo RAS System
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Medtronic plc (MDT - Free Report) recently announced the enrolment of the first patient in the Expand URO U.S. clinical trial for the Hugo robotic-assisted surgery (RAS) system. The robotic prostatectomy was performed at Duke University Hospital in Durham, N.C.
It is to be noted that Expand URO is a potential, multi-center, single-arm study to assess the safety and performance of the Hugo RAS system for urologic procedures.
The Hugo RAS system is expected to bolster the Surgical Robotics business, which is part of Medtronic’s Medical Surgical Portfolio. The latest development aligns with the company’s surgical robotics vision to broaden access to quality care and expand its reach across more regions.
More on Hugo RAS System
The Hugo RAS system and Touch Surgery Enterprise provide a smart, digitally-enabled surgical experience. Outside the United States, the Hugo RAS system is utilized in hospitals across three continents in an array of procedures within urology, gynecology and general surgery.
In certain geographies, the Hugo RAS system is commercially available as regulatory requirements and status in individual countries and regions will determine the market availability of the system and approved indications. In the United States, the Hugo RAS system is an investigational device not for sale.
Benefits of Hugo RAS System
It is worth mentioning that minimally invasive surgery, including robotic-assisted surgery, provides fewer complications, shorter hospital stays, quicker return to normal activities and smaller scars. The Hugo RAS system is designed to be used in this study for urologic surgical procedures, including radical prostatectomy, radical cystectomy and nephrectomy (partial or radical) procedures at sites in the United States.
Image Source: Zacks Investment Research
Per Medtronic’s management, scientific evidence is the foundation of healthcare technology advancement and adoption. With the Hugo RAS system, Medtronic is advancing that significant pursuit in collaboration with hospitals and surgical teams in the United States.
Industry Prospects
Per a report published in MarketsandMarkets, the global surgical robots market is expected to see a CAGR of 17.6% from 2021 to 2026. Factors driving market growth include several benefits of robotic-assisted surgery, growing funds for robotic research, increasing adoption of surgical robots and advanced visualization capabilities associated with robotic-assisted surgeries
Recent Developments
This month, Medtronic announced the completion of enrollment and final treatment in the SPHERE Per-AF Trial, FDA Investigational Device Exemption (IDE) pivotal trial. SPHERE Per-AF Trial is intended to assess the safety and effectiveness of the first-of-its-kind Sphere-9™ pulsed field and radiofrequency ablation and high-density mapping catheter with the Affera cardiac mapping and navigation platform for the treatment of persistent atrial fibrillation.
In November 2022, Medtronic launched Extended infusion set — the first and only infusion set labeled for up to 7-day wear. The Medtronic Extended infusion set leverages advanced materials that help minimize insulin preservative loss and maintain insulin flow and stability to double the wear time of an infusion set.
Price Performance
Shares of the company have lost 24% in a year compared with the industry’s fall of 41.3%.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space that investors can consider are ShockWave Medical, Inc. (SWAV - Free Report) , Orthofix Medical Inc. (OFIX - Free Report) and Merit Medical System (MMSI - Free Report) .
ShockWave Medical, sporting a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 33.1% for 2023. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has outperformed its industry in the past year. SWAV has gained 35% against the industry’s 32.6% fall in the past year.
Orthofix Medical, sporting a Zacks Rank #1 (Strong Buy), reported third-quarter 2022 adjusted EPS of 13 cents, which beat the Zacks Consensus Estimate by a stupendous 550%. Revenues of $114 million outpaced the consensus mark by 2.7%.
Orthofix Medical has an estimated next-year growth rate of 58.97%. MMSI’s earnings surpassed estimates in the trailing three quarters and missed in one, the average being 129.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Merit Medical, carrying a Zacks Rank of 2, reported third-quarter 2022 adjusted EPS of 64 cents, which beat the Zacks Consensus Estimate by 20.8%. Revenues of $287.2 million outpaced the consensus mark by 5.2%.
Merit Medical has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average being 25.4%.
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Medtronic (MDT) Enrolls 1st Patient Trial for Hugo RAS System
Medtronic plc (MDT - Free Report) recently announced the enrolment of the first patient in the Expand URO U.S. clinical trial for the Hugo robotic-assisted surgery (RAS) system. The robotic prostatectomy was performed at Duke University Hospital in Durham, N.C.
It is to be noted that Expand URO is a potential, multi-center, single-arm study to assess the safety and performance of the Hugo RAS system for urologic procedures.
The Hugo RAS system is expected to bolster the Surgical Robotics business, which is part of Medtronic’s Medical Surgical Portfolio. The latest development aligns with the company’s surgical robotics vision to broaden access to quality care and expand its reach across more regions.
More on Hugo RAS System
The Hugo RAS system and Touch Surgery Enterprise provide a smart, digitally-enabled surgical experience. Outside the United States, the Hugo RAS system is utilized in hospitals across three continents in an array of procedures within urology, gynecology and general surgery.
In certain geographies, the Hugo RAS system is commercially available as regulatory requirements and status in individual countries and regions will determine the market availability of the system and approved indications. In the United States, the Hugo RAS system is an investigational device not for sale.
Benefits of Hugo RAS System
It is worth mentioning that minimally invasive surgery, including robotic-assisted surgery, provides fewer complications, shorter hospital stays, quicker return to normal activities and smaller scars. The Hugo RAS system is designed to be used in this study for urologic surgical procedures, including radical prostatectomy, radical cystectomy and nephrectomy (partial or radical) procedures at sites in the United States.
Per Medtronic’s management, scientific evidence is the foundation of healthcare technology advancement and adoption. With the Hugo RAS system, Medtronic is advancing that significant pursuit in collaboration with hospitals and surgical teams in the United States.
Industry Prospects
Per a report published in MarketsandMarkets, the global surgical robots market is expected to see a CAGR of 17.6% from 2021 to 2026. Factors driving market growth include several benefits of robotic-assisted surgery, growing funds for robotic research, increasing adoption of surgical robots and advanced visualization capabilities associated with robotic-assisted surgeries
Recent Developments
This month, Medtronic announced the completion of enrollment and final treatment in the SPHERE Per-AF Trial, FDA Investigational Device Exemption (IDE) pivotal trial. SPHERE Per-AF Trial is intended to assess the safety and effectiveness of the first-of-its-kind Sphere-9™ pulsed field and radiofrequency ablation and high-density mapping catheter with the Affera cardiac mapping and navigation platform for the treatment of persistent atrial fibrillation.
In November 2022, Medtronic launched Extended infusion set — the first and only infusion set labeled for up to 7-day wear. The Medtronic Extended infusion set leverages advanced materials that help minimize insulin preservative loss and maintain insulin flow and stability to double the wear time of an infusion set.
Price Performance
Shares of the company have lost 24% in a year compared with the industry’s fall of 41.3%.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the broader medical space that investors can consider are ShockWave Medical, Inc. (SWAV - Free Report) , Orthofix Medical Inc. (OFIX - Free Report) and Merit Medical System (MMSI - Free Report) .
ShockWave Medical, sporting a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 33.1% for 2023. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has outperformed its industry in the past year. SWAV has gained 35% against the industry’s 32.6% fall in the past year.
Orthofix Medical, sporting a Zacks Rank #1 (Strong Buy), reported third-quarter 2022 adjusted EPS of 13 cents, which beat the Zacks Consensus Estimate by a stupendous 550%. Revenues of $114 million outpaced the consensus mark by 2.7%.
Orthofix Medical has an estimated next-year growth rate of 58.97%. MMSI’s earnings surpassed estimates in the trailing three quarters and missed in one, the average being 129.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Merit Medical, carrying a Zacks Rank of 2, reported third-quarter 2022 adjusted EPS of 64 cents, which beat the Zacks Consensus Estimate by 20.8%. Revenues of $287.2 million outpaced the consensus mark by 5.2%.
Merit Medical has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average being 25.4%.