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Abbott (ABT) Reports Upbeat Cardiomems Sensor Study Result

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Abbott Laboratories, Inc. (ABT - Free Report) presented new data from an investigator-sponsored European study — MONITOR-HF. The study revealed that Abbott's CardioMEMS HF System led to a significant improvement in quality-of-life scores in patients with indicated heart failures as early as three months. The MONITOR-HF results were announced recently at a late-breaking presentation at the European Society of Cardiology's annual meeting of the Heart Failure Association in Prague.

The recent development will fortify Abbott’s Heart Failure business.

More on MONITOR-HF Trial

A prospective, randomized trial called MONITOR-HF has 348 patients registered in 25 centres across the Netherlands. Patients had heart failure classified as Class III by the New York Heart Association (NYHA), undergoing an urgent care visit that required IV diuretics. Patients were randomized to receive either GDMT, the gold standard for treating heart failure or hemodynamic monitoring using the Abbott CardioMEMS.

MONITOR-HF was conducted by the Erasmus University Medical Center in Rotterdam, Netherlands. The MONITOR-HF is the third randomized, controlled trial globally that will provide health benefits to indicated heart failure patients.

Study Outcome

The MONITOR-HF trial met its primary endpoint, finding that heart failure participants who received a CardioMEMS sensor reported a clinically meaningful improvement in quality of life, measured by a 7-point mean increase on the Kansas City Cardiomyopathy Questionnaire (KCCQ). The score was higher compared with patients in the control group, whose scores declined. The KCCQ is a clinical standard assessment in heart failure that has been recommended to record and measure patient-reported quality of treatment.

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The paperclip-sized CardioMEMS sensor monitors for pressure changes that signify worsening heart failure after being inserted into the pulmonary artery during a minimally-invasive surgery. It helps patients and their care teams to manage a patient's status from anywhere by wirelessly transmitting daily readings to the patient's clinical team.

Significance of the Study

Per management, the MONITOR-HF results are more significant given that patients who were already receiving a high-quality care experienced considerable increases in their quality of life, while utilizing the CardioMEMS monitoring system.

Heart failure is a serious health issue that affects patients all over the world and has a high rate of morbidity and mortality. These findings confirm that, compared with medication alone, a proactive, remote-centered strategy employing pressure monitoring with CardioMEMS results in better health outcomes and increased patient satisfaction across a variety of health indices.

Industry Prospects

Per a report by Precedence Research, the global cardiac monitoring market size was estimated at $8.24 billion in 2022 and is expected to reach $20.23 billion by 2032 at a CAGR of 8.51%. Rising incidence of cardiovascular disorders, treatment costs of cardiac diseases, increasing use of ambulatory and home services, favorable government regulation and technological advancement are the factors driving the market.

Recent Developments

In May 2023, Abbott presented a favorable outcome on its leadless pacemaker. The company unveiled late-breaking results from the AVEIR dual-chamber (DR) i2i Investigational Device Exemption (IDE) study. The study demonstrated that AVEIR DR leadless pacemaker met its three prespecified primary endpoints for safety and performance. The data also noted that this device could provide new benefits for people with slower-than-normal heart rhythms.

The same month, Abbott announced the receipt of the FDA approval for its Assert-IQTM insertable cardiac monitor (ICM), giving doctors a new choice for the diagnostic assessment and ongoing monitoring of patients with irregular heartbeats. This approval adds to Abbott's line-up of remote patient management and treatment tools that can support doctors more effectively.

Price Performance

In the past year, Abbott’s shares have declined 10.8% compared with the industry’s fall of 32.8%.

Zacks Rank & Key Picks

Abbott currently carries Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Merit Medical Systems (MMSI - Free Report) , West Pharmaceutical Services (WST - Free Report) and Perrigo (PRGO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Merit Medical Systems has an estimated long-term growth rate of 11%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.22%.

So far this year, MMSI’s shares have risen 18.9% compared with the industry’s 8.7% growth.

West Pharmaceutical Services has an estimated long-term growth rate of 6.3%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same once, the average surprise being 13.61%.

So far this year, WST’s shares have gained 49.1% compared with the industry’s 8.7% growth.

Perrigo’s earnings are expected to improve 24.2% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, the average negative surprise being 0.79%.

The company has lost 1.9% so far this year against the industry’s 4.8% growth.

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