Medtronic plcMDT , a leading name in medical device space, recently presented preliminary results from its HVAD LATERAL study, where HVAD stands for Heart Ventricular Assist Device. This evaluation was done with regard to HVAD System, which when implanted in patients with end-stage heart failure, produced favorable results. The results of this study were released at the 2017 International Society for Heart and Lung Transplantation (ISHLT) Scientific Meeting in San Diego.
In fact, HVAD System is a mechanical pump that delivers blood to the body in advanced heart failure patients through a less-invasive thoracotomy procedure.
Right before the HVAD LATERAL presentation, the company also presented ENDURANCE Supplemental study of HVAD system at the ongoing ISHLT meeting. The study evaluated the incidence of neurologic events in patients who have received destination therapy through the HVAD System. It also showed that the HVAD System has the ability to reduce stroke rates and optimize a patient's blood pressure. Therefore, moving ahead, we expect that these two positive datasets will boost the market adoption of the HVAD system.
Meanwhile, Medtronic continues to be popular on account of its pioneering innovations. Shares of this company have been trading above the Zacks categorized Medical - Products industry. While the stock rallied 8.7%, the broader industry gained 7.9%.
Coming back to the news, LATERAL is a prospective clinical trial of a full-support ventricular assist device (VAD) to evaluate the thoracotomy implant technique. The study enrolled patients with end-stage heart failure, who have not responded to standard medical management and are eligible for heart transplantation.
Medtronic PLC Price
The trial demonstrated positive outcomes for these patients who received the HVAD System via thoracotomy procedure. Overall survival among patients was 91.8% at six months, which seems to quite encouraging.
Of late Medtronic's Cardiac & Vascular Group has made several recent developments which should boost its top line in the coming period. In the last month, the company received FDA clearance for Reveal LINQ Insertable Cardiac Monitor (ICM) with TruRhythm Detection, CoreValve Evolut PRO valve and Melody Transcatheter Pulmonary Valve (TPV) for less-invasive treatment of cardiac ailments.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the broader Medical space include Inogen, Inc. INGN , Orasure Technologies, Inc. OSUR and Hill-Rom Holdings, Inc. HRC . While Inogen sports a Zacks Rank #1 (Strong Buy), Orasure and Hill-Rom carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here .
Inogen gained 62.2% in the last one year compared with the S&P 500's surge of 15.1%. The company reported a stellar four-quarter positive average earnings surprise of over 49.08%.
Orasure surged 73.9% in the last one year compared with the S&P 500's gain. Its four-quarter average earnings surprise was a positive of 123.5%.
Hill-Rom gained over 33.9% in the past one year, better than the S&P 500 mark. It posted a trailing four-quarter positive average earnings surprise of 12.03%.
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