Medtronic announces enrollment in ADAPT-PD trial » 08:3601/1401/14/21
Medtronic announced the…
Medtronic announced the first enrollment in ADAPT-PD, its trial evaluating the safety and efficacy of adaptive deep brain stimulation in patients with Parkinson's Disease. Adaptive deep brain stimulation is an investigational feature of the Percept(TM) PC device that could be enabled if approved. The investigational feature used in this study allows for automated adjustment of brain stimulation to provide therapy to manage symptoms of Parkinson's disease based on a patient's clinical state.
MCIT finalized rule 'important win' for medical technology, says Piper Sandler » 04:5801/1301/13/21
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Centers for Medicare and…
Centers for Medicare and Medicaid Services yesterday announced that the Medicare Coverage of Innovative Technology proposal announced in August 2020) has been made into a final rule, Piper Sandler analyst Matt O'Brien tells investors in a research note. Under this new rule, medical devices with FDA Breakthrough Device Designation will be eligible for up to four years of national Medicare coverage simultaneously with FDA approval, says the analyst. Additionally, Breakthrough Devices that were approved within the past two calendar years will also be eligible for coverage under this rule, adds the analyst. O'Brien calls the news an "important win" for the medical technology space and believes Boston Scientific (BSX), Edwards Lifesciences (EW), Masimo (MASI), Medtronic (MDT), Merit Medical (MMSI), Neuronetics (STIM) and hockWave Medical (SWAV) stand to benefit.
Medtronic CEO: We're putting more money into R&D » 18:2401/1101/11/21
In an interview on…
In an interview on CNBC's Mad Money, Geoff Martha said the use of data will change healthcare. Therapies are improving and becoming more personalized due to advances in technology, he noted. Medtronic is putting more money into R&D and using its balance sheet more than in the past, Martha added. He said the company is "committed" to the dividend and to a double digit return.
Medtronic updates thoughts on Q3, products, says Piper Sandler » 12:5801/1101/11/21
Piper Sandler analyst…
Piper Sandler analyst Matt O'Brien made no change to his Overweight rating on Medtronic shares and continues to be "positively inclined" after the company provided updated thoughts on its Q3 at a conference and provided some updates on its pipeline products. O'Brien sees a number of potential growth drivers in the coming years, a strong balance sheet, and a reasonable valuation relative to other diversified names, and noted that the company disclosed that it is developing its own ECAPs closed loop spinal cord stimulation platform which it expects to submit for FDA approval later this year.
Medtronic Canada receives expanded indication from Health Canada for Evolut » 07:5501/1101/11/21
Medtronic Canada ULC, a…
Medtronic Canada ULC, a subsidiary of Medtronic, has received a new expanded indication from Health Canada for its Evolut Transcatheter Aortic Valve Implantation system. Medtronic's TAVI platform is currently the only system licensed for both bicuspid aortic valves as well as all surgical risk categories in Canada. Evolut is now indicated in Canada for severe aortic stenosis patients across all risk categories. With this new indication, over 10,500 people in Canada are potential candidates for this minimally invasive alternative to open-heart surgical valve replacement each year. The expanded indication also allows patients with bicuspid aortic valves at extreme, high and intermediate risk of surgical mortality to also receive the procedure.
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Axonics price target raised to $58 from $53 at Morgan Stanley » 08:4201/0701/07/21
Morgan Stanley analyst…
Morgan Stanley analyst David Lewis raised the firm's price target on Axonics (AXNX) to $58 from $53 and keeps an Overweight rating on the shares after surveying 54 high-volume physicians who drive about 12% of total U.S. SNM implant volumes. While Medtronic's (MDT) Interstim Micro launch appears to be arresting some of Axonics' share gain momentum, these physicians still expect their share of Axonics' rSNM procedures to grow over the next one to two years, Lewis tells investors.
JPMorgan ups Medtronic target to $130, names a top pick for 2021 » 09:2512/2212/22/20
JPMorgan analyst Robbie…
JPMorgan analyst Robbie Marcus raised the firm's price target on Medtronic to $130 from $122 and keeps an Overweight rating on the shares. The analyst also named Medtronic a top large cap pick for 2021. With a new CEO, new operating model, and a "robust" product pipeline, the pieces are in place for Medtronic to deliver a strong 2021, Marcus tells investors in a research note. The analyst sees 2021 as a "significant year for Medtronic as the turnaround story continues to play out."
Medtronic's White sells nearly 11,000 common shares » 17:1012/2112/21/20
In a regulatory filing,…
In a regulatory filing, Medtronic EVP and President, Medical Surgical, Robert John White disclosed the sale of 10,930 ordinary shares of the company on December 18 at a price of $115.46 per share.
Medtronic announces FDA approval of navigated interbody, Midas Rex drills » 08:0312/1612/16/20
Medtronic announced that…
Medtronic announced that the U.S. FDA has cleared the use of navigated interbody and Midas Rex high speed drills with the Mazor Robotic Guidance System earlier than originally anticipated. The Mazor platform now provides surgeons with unprecedented procedural integration by seamlessly combining the power of Midas Rex drills with the market leading visibility and navigation from the StealthStation software. The solution delivers the confidence of access and interbody navigation and predictability of planning, along with the precision of robotic technology that surgeons expect from the Mazor Robotic Guidance System and the exclusive Medtronic robotics portfolio.
Food & Drug Law Institute to hold a virtual conference » 04:5512/1612/16/20
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Enforcement, Litigation & Compliance Conference will be held on December 15-16. Webcast Link