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MDT

Medtronic

$88.89

0.27 (0.30%)

07:06
07/25/18
07/25
07:06
07/25/18
07:06

Medtronic to provide public comment during CMS committee meeting on July 25

Medtronic plc will deliver public comment during the Centers for Medicare & Medicaid Services Medicare Evidence Development and Coverage Advisory Committee meeting on July 25, which will assess whether scientific evidence supports requiring hospitals and heart team members to meet pre-specified volume requirements for TAVR programs. "While considering requirements for centers and physicians to deliver quality outcomes, patient access is equally important, and we believe that any coverage policy and patient access decisions need to be supported by high-quality empirical evidence," said Pieter Kappetein, M.D., vice president and chief medical officer of the Structural Heart business, which is part of the Cardiac and Vascular Group at Medtronic. "The evidence that we've seen to date does not show a correlation between volume and quality."The MEDCAC panel will vote on nine questions regarding whether there is sufficient evidence supporting procedural volume requirements for operators and hospitals. The vote results will be made public following the meeting.Medtronic will deliver a five-minute presentation in general support of the existing TAVR National Coverage Determination, reinforcing the position that the current coverage policy allows for appropriate patient access to TAVR therapy while achieving quality outcomes. "We do not believe there is sufficient evidence to support significant modifications to the current operator and facility volume requirements in the TAVR NCD at this time," said Kappetein. "We will continue to collaborate with key stakeholders as the NCD process moves forward, and we are committed to delivering meaningful, evidence-based solutions across the care continuum that provide excellent outcomes for heart valve patients across the globe."

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MDT Medtronic
$88.89

0.27 (0.30%)

06/11/18
PIPR
06/11/18
NO CHANGE
Target $32.5
PIPR
Overweight
Piper doesn't see regulatory issues for possible Stryker, Boston Scientific deal
Piper Jaffray analyst Matt O'Brien believes regulatory constraints from Stryker's (SYK) potential acquisition of Boston Scientific (BSX) "should not be much of an issue" given the little overlap between the businesses. The deal structure would be the biggest issue facing Stryker as the company would likely have to lever up heavily to acquire Boston Scientific, O'Brien tells investors in a research note. The analyst believes a transaction could occur in the $52B-$54B range, assuming a typical medtech takeout premium of 20%-30%. Consequently, any transaction would either require a significant level of debt or dilution to Stryker shareholders, the analyst contends. He sees the potential deal as likely being dilutive until 2021. O'Brien has an Overweight rating on Boston Scientific with a $32.50 price target. The stock closed the trading day up 7% to $34.32 after the Wall Street Journal reported that Stryker approached the company regarding a takeover.
06/18/18
PIPR
06/18/18
NO CHANGE
Target $96
PIPR
Overweight
Piper continues to recommend Medtronic after management meeting
After meeting with management, Piper Jaffray analyst Matt O'Brien continues to recommend building positions in Medtronic (MDT). The analyst views management's 4% plus revenue outlook over the next several years as "readily achievable and likely conservative." Management noted that given the low penetration rates of surgery performed on robots, they did not see a reason to be aggressive on pricing of their system once they get it to market, O'Brien tells investors in a research note. He believes that is a positive comment for Intuitive Surgical (ISRG). The analyst keeps an Overweight rating on Medtronic with a $96 price target.
06/26/18
BMOC
06/26/18
NO CHANGE
Target $94
BMOC
Outperform
Medtronic Sugar IQ software 'underappreciated', says BMO Capital
BMO Capital analyst Joanne Wuensch kept her Outperform rating and $94 price target on Medtronic after its Diabetes Analyst Meeting at ADA yesterday. The analyst cites the company's message that it is investing in a comprehensive program to better treat diabetes patients while focusing on systems to reduce healthcare costs, having raised its market share and decreased preventable hospitalizations. Wuensch also believes that Medtronic's Sugar IQ software is underappreciated given its ability to start providing "customizable insights to patients after just five days of data collection".
06/27/18
BERN
06/27/18
INITIATION
Target $88
BERN
Market Perform
Medtronic initiated with a Market Perform at Bernstein
Bernstein analyst Lee Hambright started Medtronic with a Market Perform rating and $88 price target as he believes the company is undergoing "something of an identity crisis." After ardent pursuit of economic value and globalization strategies over the past 7 years, Medtronic messaging has recently shifted, with greater emphasis on technology leadership, he contends. The analyst believes the new messaging is the right move for the company, but thinks the stock is unlikely to work until the company can demonstrate consistent performance on margin and cash conversion commitments.

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HOPE

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