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One of the world’s largest medical technology, services and solutions companies, Medtronic plc (MDT - Free Report) has been consistently expanding its core business segments. Keeping in line with this, the company recently announced positive data on cardiac resynchronization therapy (CRT) devices within its Cardiac and Vascular segment.
Data from a latest clinical trial reveals that, Medtronic’s CRT devices, when combined with its proprietary AdaptivCRT and EffectiveCRT algorithms, reduce costs of healthcare system and improve therapy delivery in heart failure patients who also suffer from atrial fibrillation (AF). AF is one of the most common heart rhythm disorders. Notably, it is an irregular or rapid beating of the heart’s upper chambers.
European health-economic analysis based on data from Italy, Spain and U.K demonstrated that lifetime costs for patients treated with AdaptivCRT were lower and life expectancy was extended by an average of four months than patients treated with traditional pacing algorithms.
Also, another analysis based on the CRTee study reveals that Medtronic device-based EffectivCRT during AF algorithm improves left ventricular pacing by 19% in patients with AF in comparison to devices without the technology.
Most of the patients with heart failure do not respond to CRT because they also have AF. The EffectivCRT Diagnostic determines the efficacy of left ventricular pacing automatically. It also adjusts pacing rates during AF algorithm.
Lastly, the economic analysis of Medtronic CRT-defibrillators (CRT-D) reveals as high as nine years of longevity for Claria and Amplia devices, and around eight years for Viva XT CRT-Ds. These are significant expansion in terms of device longivity when compared to previous models. According to Medtronic, improvement in longevity will lead to less device replacements which will further save costs.
Over the last six months, Medtronic has been observed to outperform the Zacks categorized Medical - Products industry. As per the latest share price movement, the company has gained 23.8%, as compared to the 21% gain of the broader industry.
According to Zion Market Research, the global cardiovascular monitoring and diagnostic devices market is expected to reach a worth of approximately $2.60 billion by 2021, at a CAGR of around 7.0% between 2016 and 2021. Also, as per a report by GlobalData, the global heart failure market is set to reach a worth of $11.8 billion by 2025, at a CAGR of 13.7%. Undoubtedly, the latest development at Medtronic is encouraging.
Recent Developments
Of late, Medtronic’s Cardiac & Vascular Group has made several developments. Notably, in Apr 2017, the company received FDA clearance for Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, CoreValveEvolutPRO valve and Melody Transcatheter Pulmonary Valve (TPV) for less-invasive treatment.
The company also unveiled results from a new clinical study evaluating Insertable Cardiac Monitors (ICMs). These devices detect high incidence of atrial fibrillation (AF) in patients previously undiagnosed but suspected to be at high-risk for AF and stroke.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, 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 Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock has added roughly 32.3% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has gained around 26.2% over the last three months.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock has gained roughly 24.5% over the last three months.
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Medtronic CRT Devices Improve Therapy Delivery, Cut Costs
One of the world’s largest medical technology, services and solutions companies, Medtronic plc (MDT - Free Report) has been consistently expanding its core business segments. Keeping in line with this, the company recently announced positive data on cardiac resynchronization therapy (CRT) devices within its Cardiac and Vascular segment.
Data from a latest clinical trial reveals that, Medtronic’s CRT devices, when combined with its proprietary AdaptivCRT and EffectiveCRT algorithms, reduce costs of healthcare system and improve therapy delivery in heart failure patients who also suffer from atrial fibrillation (AF). AF is one of the most common heart rhythm disorders. Notably, it is an irregular or rapid beating of the heart’s upper chambers.
European health-economic analysis based on data from Italy, Spain and U.K demonstrated that lifetime costs for patients treated with AdaptivCRT were lower and life expectancy was extended by an average of four months than patients treated with traditional pacing algorithms.
Also, another analysis based on the CRTee study reveals that Medtronic device-based EffectivCRT during AF algorithm improves left ventricular pacing by 19% in patients with AF in comparison to devices without the technology.
Most of the patients with heart failure do not respond to CRT because they also have AF. The EffectivCRT Diagnostic determines the efficacy of left ventricular pacing automatically. It also adjusts pacing rates during AF algorithm.
Lastly, the economic analysis of Medtronic CRT-defibrillators (CRT-D) reveals as high as nine years of longevity for Claria and Amplia devices, and around eight years for Viva XT CRT-Ds. These are significant expansion in terms of device longivity when compared to previous models. According to Medtronic, improvement in longevity will lead to less device replacements which will further save costs.
Over the last six months, Medtronic has been observed to outperform the Zacks categorized Medical - Products industry. As per the latest share price movement, the company has gained 23.8%, as compared to the 21% gain of the broader industry.
According to Zion Market Research, the global cardiovascular monitoring and diagnostic devices market is expected to reach a worth of approximately $2.60 billion by 2021, at a CAGR of around 7.0% between 2016 and 2021. Also, as per a report by GlobalData, the global heart failure market is set to reach a worth of $11.8 billion by 2025, at a CAGR of 13.7%. Undoubtedly, the latest development at Medtronic is encouraging.
Recent Developments
Of late, Medtronic’s Cardiac & Vascular Group has made several developments. Notably, in Apr 2017, the company received FDA clearance for Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, CoreValveEvolutPRO valve and Melody Transcatheter Pulmonary Valve (TPV) for less-invasive treatment.
The company also unveiled results from a new clinical study evaluating Insertable Cardiac Monitors (ICMs). These devices detect high incidence of atrial fibrillation (AF) in patients previously undiagnosed but suspected to be at high-risk for AF and stroke.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, 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 Technology has an expected long-term adjusted earnings growth of almost 24.1%. The stock has added roughly 32.3% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has gained around 26.2% over the last three months.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock has gained roughly 24.5% over the last three months.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>