Medtronic Inc. (MDT - Free Report) has further strengthened its endovascular portfolio. The company, with the receipt of CE Mark approval for the Sentrant Introducer Sheath, will be launching this product internationally. Currently, MDT is demonstrating its complete portfolio of stent grafts and related accessories at the Charing Cross symposium in London.
According to the company, this new device will complement its market-leading portfolio of stent grafts for the endovascular repair of aortic aneurysms and related conditions, thereby expanding Medtronic`s accessories toolkit for endovascular aortic interventions.
Specifically, the Sentrant Introducer Sheath will be used together with Medtronic’s Endurant II AAA and Valiant Captivia Stent Graft Systems. It also complements other comparable devices for endovascular repair. This new Sentrant Introducer Sheath will be available in various sizes to adjust to different anatomies.
Medtronic’s Cardiac and Vascular segment, accounting for 53% of revenues, offer minimally invasive products and therapies for the treatment of atrial fibrillation, information systems for the management of patients with CRDM devices, coronary and peripheral stents and related delivery systems, therapies for uncontrolled hypertension, endovascular stent graft systems, heart valve replacement technologies, cardiac tissue ablation systems, and open heart and coronary bypass grafting surgical products. We believe that the successful commercialization of this drug-eluting balloon in the U.S. will lead to revenue growth of this segment going ahead.
We are encouraged by Medtronic’s focus on portfolio expansion along with its aim to boost revenues from the emerging markets. Meanwhile, Medtronic continues to target return of 50% of the free cash flow to shareholders. However, unfavorable currency and macroeconomic uncertainty in Southern Europe adversely affected sales. These headwinds have also adversely affected the company’s peers like Boston Scientific (BSX - Free Report) .
Medtronic retains a Zacks Rank #3 (Hold). Some of the Zacks Rank #1 (Strong Buy) stocks are Given Imaging Ltd. and Cyberonics Inc. .