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Abbott's (ABT) Assert-IQ Cardiac Monitor Receives CE Mark
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Abbott Laboratories, Inc. (ABT - Free Report) recently announced the receipt of CE Mark in Europe for its Assert-IQ insertable cardiac monitor (ICM). The ICM offers physicians a new option for diagnostic evaluation and long-term monitoring of people experiencing abnormal heartbeats.
Abbott, which pioneered the launch of the world's first Bluetooth-enabled ICM, is now again fuelling innovation in arrhythmia control with the Assert-IQ ICM. The newest technology allows regular monitoring of abnormal heart rhythms, as well as technologies to improve data management and workflow.
The recent development will bolster Abbott's cardiac rhythm management business.
More on Assert-IQ ICM
Abbott has added Assert-IQ ICM to its expanding line of linked health devices. It can identify even hard-to-spot anomalies in heartbeats and assist doctors in choosing the most appropriate course of action.
Abbott's Assert-IQ ICM uses bluetooth technology to pair with a transmitter, typically the user's mobile phone, to monitor cardiac rhythms every 20 seconds and send critical results to the clinic's portal almost instantly. Assert-IQ provides the longest battery life available for a bluetooth-enabled ICM.
Image Source: Zacks Investment Research
Other ICMs on the market track an individual's heartbeat for a few years, but Assert-IQ offers two options — one with a battery life of at least three years and the other with a battery life of at least six years. Both choices offer sophisticated algorithms that can identify abnormal heartbeats and deliver data that can be used in therapeutic settings. Assert-IQ ICM's enhanced algorithms lessen data load and boost device accuracy, which eventually enhances physician productivity.
Significance of Assert-IQ ICM
As the prevalence of irregular heart rhythms rises, physicians are increasingly turning to ICM technology to diagnose a variety of cardiac diseases. Introducing Assert-IQ across Europe will provide access to the revolutionary benefits of long-term monitoring and more clinically relevant information, enabling care professionals to make clinical decisions faster and more precisely.
The Assert-IQ implantable cardiac monitor is the next generation in medical technology, offering doctors new patient insights and actionable data. Doctors may now provide more individualized and efficient care because of real-time data, advanced algorithms and accurate diagnosis.
Industry Prospects
Per a report by Mordor Intelligence, the Cardiac Arrhythmia monitoring devices market size is estimated at $8.23 billion in 2024 and is expected to reach $11.91 billion by 2029, growing at a CAGR of 7.67%. The market's growth can be primarily attributed to the increasing use of telecardiology, ease of use and portability of cardiac arrhythmia monitoring devices and the development of smart cardiac monitors.
Recent Developments
In January 2024, Abbott announced that the first global procedures had been conducted using the company's new Volt Pulsed Field Ablation (PFA) System to treat patients battling common abnormal heart rhythms such as atrial fibrillation (AFib). Abbott's Volt PFA System is designed to overcome the limitations of first-generation PFA systems by providing physicians a clearer indication of contact between the Volt PFA Catheter and targeted tissue
Earlier in September 2023, Abbott took a significant step in the field of electrophysiology with the introduction of its TactiFlex Ablation Catheter, Sensor Enabled. This device is designed to treat atrial fibrillation (AFib), a common and potentially life-threatening irregular heart rhythm that affects millions worldwide.
Price Performance
In the past six months, ABT’s shares have gained 14.8% compared with the industry’s rise of 11.6%.
Zacks Rank and Key Picks
Abbott currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Stryker Corporation (SYK - Free Report) , Cencora, Inc. (COR - Free Report) and Cardinal Health (CAH - Free Report) .
Stryker, carrying a Zacks Rank #2 (Buy), reported a fourth-quarter 2023 adjusted EPS of $3.46, beating the Zacks Consensus Estimate by 5.8%. Revenues of $5.8 billion outpaced the consensus estimate by 3.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker has an estimated earnings growth rate of 11.5% for 2025 compared with the S&P 500’s 9.9%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 5.1%.
Cencora, carrying a Zacks Rank #2, reported a first-quarter fiscal 2024 adjusted EPS of $3.28, which beat the Zacks Consensus Estimate by 14.7%. Revenues of $72.3 billion outpaced the Zacks Consensus Estimate by 5.1%.
COR has an earnings yield of 5.75% compared with the industry’s 1.85%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 6.7%.
Cardinal Health, carrying a Zacks Rank #2, reported second-quarter fiscal 2024 adjusted earnings of $1.82, which beat the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion improved 11.6% on a year-over-year basis and also topped the Zacks Consensus Estimate by 1.1%.
CAH has a long-term estimated earnings growth rate of 15.3% compared with the industry’s 11.8% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%.
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Abbott's (ABT) Assert-IQ Cardiac Monitor Receives CE Mark
Abbott Laboratories, Inc. (ABT - Free Report) recently announced the receipt of CE Mark in Europe for its Assert-IQ insertable cardiac monitor (ICM). The ICM offers physicians a new option for diagnostic evaluation and long-term monitoring of people experiencing abnormal heartbeats.
Abbott, which pioneered the launch of the world's first Bluetooth-enabled ICM, is now again fuelling innovation in arrhythmia control with the Assert-IQ ICM. The newest technology allows regular monitoring of abnormal heart rhythms, as well as technologies to improve data management and workflow.
The recent development will bolster Abbott's cardiac rhythm management business.
More on Assert-IQ ICM
Abbott has added Assert-IQ ICM to its expanding line of linked health devices. It can identify even hard-to-spot anomalies in heartbeats and assist doctors in choosing the most appropriate course of action.
Abbott's Assert-IQ ICM uses bluetooth technology to pair with a transmitter, typically the user's mobile phone, to monitor cardiac rhythms every 20 seconds and send critical results to the clinic's portal almost instantly. Assert-IQ provides the longest battery life available for a bluetooth-enabled ICM.
Image Source: Zacks Investment Research
Other ICMs on the market track an individual's heartbeat for a few years, but Assert-IQ offers two options — one with a battery life of at least three years and the other with a battery life of at least six years. Both choices offer sophisticated algorithms that can identify abnormal heartbeats and deliver data that can be used in therapeutic settings. Assert-IQ ICM's enhanced algorithms lessen data load and boost device accuracy, which eventually enhances physician productivity.
Significance of Assert-IQ ICM
As the prevalence of irregular heart rhythms rises, physicians are increasingly turning to ICM technology to diagnose a variety of cardiac diseases. Introducing Assert-IQ across Europe will provide access to the revolutionary benefits of long-term monitoring and more clinically relevant information, enabling care professionals to make clinical decisions faster and more precisely.
The Assert-IQ implantable cardiac monitor is the next generation in medical technology, offering doctors new patient insights and actionable data. Doctors may now provide more individualized and efficient care because of real-time data, advanced algorithms and accurate diagnosis.
Industry Prospects
Per a report by Mordor Intelligence, the Cardiac Arrhythmia monitoring devices market size is estimated at $8.23 billion in 2024 and is expected to reach $11.91 billion by 2029, growing at a CAGR of 7.67%. The market's growth can be primarily attributed to the increasing use of telecardiology, ease of use and portability of cardiac arrhythmia monitoring devices and the development of smart cardiac monitors.
Recent Developments
In January 2024, Abbott announced that the first global procedures had been conducted using the company's new Volt Pulsed Field Ablation (PFA) System to treat patients battling common abnormal heart rhythms such as atrial fibrillation (AFib). Abbott's Volt PFA System is designed to overcome the limitations of first-generation PFA systems by providing physicians a clearer indication of contact between the Volt PFA Catheter and targeted tissue
Earlier in September 2023, Abbott took a significant step in the field of electrophysiology with the introduction of its TactiFlex Ablation Catheter, Sensor Enabled. This device is designed to treat atrial fibrillation (AFib), a common and potentially life-threatening irregular heart rhythm that affects millions worldwide.
Price Performance
In the past six months, ABT’s shares have gained 14.8% compared with the industry’s rise of 11.6%.
Zacks Rank and Key Picks
Abbott currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Stryker Corporation (SYK - Free Report) , Cencora, Inc. (COR - Free Report) and Cardinal Health (CAH - Free Report) .
Stryker, carrying a Zacks Rank #2 (Buy), reported a fourth-quarter 2023 adjusted EPS of $3.46, beating the Zacks Consensus Estimate by 5.8%. Revenues of $5.8 billion outpaced the consensus estimate by 3.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stryker has an estimated earnings growth rate of 11.5% for 2025 compared with the S&P 500’s 9.9%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 5.1%.
Cencora, carrying a Zacks Rank #2, reported a first-quarter fiscal 2024 adjusted EPS of $3.28, which beat the Zacks Consensus Estimate by 14.7%. Revenues of $72.3 billion outpaced the Zacks Consensus Estimate by 5.1%.
COR has an earnings yield of 5.75% compared with the industry’s 1.85%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average being 6.7%.
Cardinal Health, carrying a Zacks Rank #2, reported second-quarter fiscal 2024 adjusted earnings of $1.82, which beat the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion improved 11.6% on a year-over-year basis and also topped the Zacks Consensus Estimate by 1.1%.
CAH has a long-term estimated earnings growth rate of 15.3% compared with the industry’s 11.8% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 15.6%.