Leading medical devices player,
) has received clearance from both the US Food and Drug
Administration (FDA) and the European CE Mark for its Pacific
Plus percutaneous transluminal angioplasty (PTA) catheter.
Subsequent to these approvals, the company is moving ahead
with the launch of its new peripheral balloon catheter in the
U.S. as well as internationally. Medtronic considers this as a
major step toward expanding its wide portfolio of lesion-specific
solutions for the interventional treatment of peripheral artery
Medtronic stated that the Pacific Plus PTA catheter is a
versatile device used to treat narrowed arteries in several
locations within the vasculature, including the renal, iliac,
iliofemoral, femoral, popliteal and infrapopliteal arteries.
Moreover, its hydrophilic coating improves crossability and fast
deflation, shortening procedure time.
In addition, several shaft lengths provide a variety of
solution for both straight and complex cases. The company also
encouragingly noted that this new device is going to compliment
Medtronic's existing Pacific Xtreme PTA catheter.
Medtronic's Cardiac and Vascular Group's products include
pacemakers, implantable defibrillators, leads and delivery
systems, ablation products, electrophysiology catheters, products
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, open heart and coronary bypass grafting surgical
In the last reported quarter, Cardiac and Vascular Group's net
sales were $2.1 billion, an increase of 3% year over year. After
several quarters of weakness, the company's CRDM franchise showed
signs of improvement. The company is enjoying market share gain
on the back of the Resolute Integrity DES for the treatment of
coronary artery disease. The quarterly results reflect positive
momentum as the company looks to rebound after a string of dull
Further, the guidance for the ongoing fiscal boosts
confidence. In addition, focus on portfolio expansion along with
an objective to boost revenues from emerging markets is
encouraging. However, looming headwinds such as soft economic
condition, tough competition, segment pressure, and currency
headwinds keep us on the sidelines.
Medtronic currently carries a Zacks Rank #3 (Hold). Other
medical sector stocks that warrant a look are
). All the stocks carry a Zacks Rank #1 (Strong Buy).
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