Medical device major, Medtronic plcMDT recently added DxTerity Diagnostic Angiography Catheter line and several transradial-specific products to its market-leading coronary portfolio. The transradial-specific products include DxTerity TRA, InTRAkit access kit and TRAcelet compression devices, all of which received U.S. FDA approval and CE Mark for use in diagnostic cardiac catheterization procedures and percutaneous coronary intervention (PCI). Medtronic's coronary portfolio comes under its broader Cardiac & Vascular segment.We expect the company's latest move to boost sales at its coronary segment in the days ahead.
DxTerity TRA Diagnostic Catheters have been designed for transradial access and allow for engagement of both coronary arteries without catheter exchange. These catheters help in determining whether or not revascularization is necessary in patients with coronary artery disease. The InTRAkit access kit helps in enhancing the transradial experience and the TRAcelet compression device stops bleeding reduction post-transradial catheterization.
Additionally, Medtronic launched Transradial Arc Curriculum, which aims to offer robust clinical training and enhance patient care pathways through a hospital-specific approach to help institutions optimize the delivery of transradial care. Notably, the DxTerity and DxTerity TRA Diagnostic Catheters, TRAcelet compression device and the InTRAkit Access Kit are commercially available in the U.S. and Europe. The Transradial Arc Curriculum is only available in the U.S.
Medtronic PLC Price
Management claims that its fresh suite of transradial products would improve conditions in patients requiring PCI procedures. It has been found that procedures via the transradial approach (through a patient`s wrist) are cost saving, reduce mortality and improve safety with reductions in major bleeding and vascular complications.
As per a Market Press Release report, global coronary stents market is expected to reach $6.1 billion by 2022, growing at a CAGR of 2.5%. We are optimistic that Medtronic can cash in on this opportunity to gain traction. In the last-reported quarter, the company's coronary business saw mid-single digit growth in drug-eluting stents in Western Europe, resulting from continued strong sales at the Resolute Onyx platform.
We currently expect another quarter of strong growth in Medtronic's coronary business, to be released a month later. Meanwhile, we believe the latest array of product launches is expected to bolster the segment's performance going ahead.
Share Price Movement
Meanwhile, over the last three months, Medtronic consistently traded below the Zacks categorized Medical - Products industry. Overall, the company lost 4.4%, down from 4.4% gain of the broader industry over this period.
Zacks Rank & Key Picks
Medtronic currently has a Zacks Rank #4 (Sell). Better-ranked medical stocks are Glaukos Corporation GKOS , Cardiovascular Systems CSII and Neogen Corp. NEOG . Glaukos sports a Zacks Rank #1 (Strong Buy) while Cardiovascular Systems and Neogen carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Glaukos gained over 100% in the last one year in comparison to the S&P 500's gain of 22.8%. The company has a stellar four-quarter average earnings surprise of over 100%.
Cardiovascular Systems surged over 100% in the last one year in comparison to the S&P 500. It has a four-quarter average earnings surprise of 67.8%.
Neogen gained 35.3% in the past one year, better than the S&P 500 mark. The stock has an impressive long-term earnings growth rate of 16.7% for the next five years compared to the industry average of 15.2%.
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