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Medtronic (MDT) Wins FDA Nod for New Clinician Programmer
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Medtronic plc (MDT - Free Report) announced FDA approval of a new clinician programmer for use with the SynchroMed II Intrathecal Drug Delivery system. This is an implantable pump that provides targeted drug delivery for chronic pain and severe spasticity. Notably, targeted drug delivery is considered an alternative to oral treatment for chronic pain and helps in reducing systemic opioid.
According to the company, the new SynchroMed II clinician programmer was designed to make therapy management simple by providing clinicians with visual tools and intuitive workflows. The company also plans to make the SynchroMed II available in the United States soon.
The new SynchroMed II clinician programmer helps simplify therapy management. Also, it enables physicians reduce pain through intrathecal delivery of medication so that systemic opioids are reduced or eliminated entirely.
The SynchroMed II clinician programmer is an application that runs on a tablet with a good quality screen display as well as simple and guided workflows. Also, the company implemented four design changes to enhance the performance of the SynchroMed II Pump, keeping patient safety in mind.
Market Prospects
Per a Transparency Market Research report, the global pain management therapeutics market is expected to reach a worth of $83 billion by 2024 from $60.2 billion in 2015. So, the latest development is strategic taking the bountiful opportunities in this niche space into consideration.
Developments in Pain Therapies
Medtronic is consistently trying to boost its Pain Therapies division, which is part of the Restorative Therapies Group. Recently, the company announced study results showing the superiority of Medtronic ITB (Intrathecal baclofen) Therapy to conventional medical management (CMM) for the reduction of severe post-stroke spasticity (PSS) in adults. In September 2017, the company announced FDA approval and U.S. launch of the Intellis platform for the management of certain types of chronic intractable pain.
Stock Performance & Estimate Revision
Over the last three months, Medtronic has outperformed the broader industry. The stock has gained 8.6% versus the 4.4% gain of the broader industry.
Also, the estimate revision trend for the current year remains favorable with 11 estimates moving north over the last two months, compared with three movements in the opposite direction. The company’s current estimates moved up 1.7% to $4.77 over the same time frame.
Zacks Rank & Key Picks
Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are Amedisys, Inc. (AMED - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Amedisys has a long-term expected earnings growth rate of 18.5%. The stock carries a Zacks Rank #2 (Buy).
Intuitive Surgical has a long-term expected earnings growth rate of 9.6%. The stock has a Zacks Rank #2.
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.
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Medtronic (MDT) Wins FDA Nod for New Clinician Programmer
Medtronic plc (MDT - Free Report) announced FDA approval of a new clinician programmer for use with the SynchroMed II Intrathecal Drug Delivery system. This is an implantable pump that provides targeted drug delivery for chronic pain and severe spasticity. Notably, targeted drug delivery is considered an alternative to oral treatment for chronic pain and helps in reducing systemic opioid.
According to the company, the new SynchroMed II clinician programmer was designed to make therapy management simple by providing clinicians with visual tools and intuitive workflows. The company also plans to make the SynchroMed II available in the United States soon.
The new SynchroMed II clinician programmer helps simplify therapy management. Also, it enables physicians reduce pain through intrathecal delivery of medication so that systemic opioids are reduced or eliminated entirely.
The SynchroMed II clinician programmer is an application that runs on a tablet with a good quality screen display as well as simple and guided workflows. Also, the company implemented four design changes to enhance the performance of the SynchroMed II Pump, keeping patient safety in mind.
Market Prospects
Per a Transparency Market Research report, the global pain management therapeutics market is expected to reach a worth of $83 billion by 2024 from $60.2 billion in 2015. So, the latest development is strategic taking the bountiful opportunities in this niche space into consideration.
Developments in Pain Therapies
Medtronic is consistently trying to boost its Pain Therapies division, which is part of the Restorative Therapies Group. Recently, the company announced study results showing the superiority of Medtronic ITB (Intrathecal baclofen) Therapy to conventional medical management (CMM) for the reduction of severe post-stroke spasticity (PSS) in adults. In September 2017, the company announced FDA approval and U.S. launch of the Intellis platform for the management of certain types of chronic intractable pain.
Stock Performance & Estimate Revision
Over the last three months, Medtronic has outperformed the broader industry. The stock has gained 8.6% versus the 4.4% gain of the broader industry.
Also, the estimate revision trend for the current year remains favorable with 11 estimates moving north over the last two months, compared with three movements in the opposite direction. The company’s current estimates moved up 1.7% to $4.77 over the same time frame.
Zacks Rank & Key Picks
Medtronic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are Amedisys, Inc. (AMED - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Bio-Rad Laboratories sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The company has a long-term expected earnings growth rate of 25%.
Amedisys has a long-term expected earnings growth rate of 18.5%. The stock carries a Zacks Rank #2 (Buy).
Intuitive Surgical has a long-term expected earnings growth rate of 9.6%. The stock has a Zacks Rank #2.
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 >>