We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Medtronic Launches MiniMed 670G to Better Manage Diabetes
Read MoreHide Full Article
Medtronic plc (MDT - Free Report) commercially launched MiniMed 670G system, a Hybrid Closed Loop insulin delivery system for Type I diabetic patients. This happened following the U.S. FDA approval late last year.
MiniMed 670G should help Medtronic simplify and improve diabetes management through advancement of smart algorithms that helps control glucose levels in diabetic patients.
The MiniMed 670G system features Medtronic’s its latest Guardian Sensor 3 – a glucose sensor with increased accuracy and enhanced performance. This is the only FDA approved sensor to control a hybrid closed loop system which includes diagnostic technology that continuously checks sensor health. The system also carries Medtronic’s most advanced algorithm known as SmartGuard HCL technology.
Incidentally, this system with latest algorithm can capture data related to a patient’s insulin needs, requiring minimal input to minimize both high and low glucose levels. Patients only need to enter mealtime carbohydrates, accept bolus correction recommendations and at times, regulate the sensor.
Hopes are harboured about the effectiveness of this system which should get greater customer adoptability over time. Notably, MiniMed 670G had got earlier-than-expected approval from the U.S. FDA, following just 104 days of Pre-Market Approval (PMA) application filing.
Taking into consideration the huge growth potential of global diabetes care market, we believe Medtronic’s focus to expand is perfectly strategic. Per Markets and Markets report, the global diabetes care device market has been forecast to reach $2.3 billion by 2020 and is estimated to grow at a CAGR of 6.3%, during the forecast period.
Price Performance
The company has been observed to underperform the Zacks categorized Medical - Products industry since last month. Per last share price movement, the company has overall gained 3.7% compared with the 4.2% gain of the broader industry during this period. With the company’s consistency in spree of product launch and pipeline updates, we expect this scenario to improve, going ahead.
Zacks Rank & Key Picks
Medtronic currently carries Zacks Rank #3 (Hold). Few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Align Technology and Inogen sport a Zacks Rank #1 (Strong Buy), while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technologyhas an expected long-term adjusted earnings growth rate of almost 24%. The stock added roughly 43.8% over last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 81.4%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth rate of 30%. The stock has added roughly 9.8% over last three months.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Medtronic Launches MiniMed 670G to Better Manage Diabetes
Medtronic plc (MDT - Free Report) commercially launched MiniMed 670G system, a Hybrid Closed Loop insulin delivery system for Type I diabetic patients. This happened following the U.S. FDA approval late last year.
MiniMed 670G should help Medtronic simplify and improve diabetes management through advancement of smart algorithms that helps control glucose levels in diabetic patients.
The MiniMed 670G system features Medtronic’s its latest Guardian Sensor 3 – a glucose sensor with increased accuracy and enhanced performance. This is the only FDA approved sensor to control a hybrid closed loop system which includes diagnostic technology that continuously checks sensor health. The system also carries Medtronic’s most advanced algorithm known as SmartGuard HCL technology.
Incidentally, this system with latest algorithm can capture data related to a patient’s insulin needs, requiring minimal input to minimize both high and low glucose levels. Patients only need to enter mealtime carbohydrates, accept bolus correction recommendations and at times, regulate the sensor.
Hopes are harboured about the effectiveness of this system which should get greater customer adoptability over time. Notably, MiniMed 670G had got earlier-than-expected approval from the U.S. FDA, following just 104 days of Pre-Market Approval (PMA) application filing.
Taking into consideration the huge growth potential of global diabetes care market, we believe Medtronic’s focus to expand is perfectly strategic. Per Markets and Markets report, the global diabetes care device market has been forecast to reach $2.3 billion by 2020 and is estimated to grow at a CAGR of 6.3%, during the forecast period.
Price Performance
The company has been observed to underperform the Zacks categorized Medical - Products industry since last month. Per last share price movement, the company has overall gained 3.7% compared with the 4.2% gain of the broader industry during this period. With the company’s consistency in spree of product launch and pipeline updates, we expect this scenario to improve, going ahead.
Zacks Rank & Key Picks
Medtronic currently carries Zacks Rank #3 (Hold). Few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Align Technology and Inogen sport a Zacks Rank #1 (Strong Buy), while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technologyhas an expected long-term adjusted earnings growth rate of almost 24%. The stock added roughly 43.8% over last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 81.4%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth rate of 30%. The stock has added roughly 9.8% over last three months.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>