U.S. markets closed
  • S&P Futures

    3,929.50
    +7.00 (+0.18%)
     
  • Dow Futures

    32,005.00
    +89.00 (+0.28%)
     
  • Nasdaq Futures

    13,320.00
    +18.00 (+0.14%)
     
  • Russell 2000 Futures

    2,298.20
    +13.10 (+0.57%)
     
  • Crude Oil

    63.35
    +0.13 (+0.21%)
     
  • Gold

    1,794.50
    -3.40 (-0.19%)
     
  • Silver

    28.05
    +0.19 (+0.69%)
     
  • EUR/USD

    1.2170
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    1.3890
    +0.0270 (+1.98%)
     
  • Vix

    21.34
    -1.77 (-7.66%)
     
  • GBP/USD

    1.4141
    0.0000 (-0.00%)
     
  • USD/JPY

    105.9600
    +0.0780 (+0.07%)
     
  • BTC-USD

    50,401.04
    +67.31 (+0.13%)
     
  • CMC Crypto 200

    1,005.20
    -9.72 (-0.96%)
     
  • FTSE 100

    6,658.97
    +33.03 (+0.50%)
     
  • Nikkei 225

    30,167.98
    +496.28 (+1.67%)
     

Medtronic (MDT) Releases Positive Study Results of RFA Therapy

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·5 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Medtronic plc MDT recently announced the release of favorable outcomes in the first batch of 100 patients who were treated with the OsteoCool Radiofrequency Ablation (“RFA”) System as part of the OPuS One Clinical Study. Notably, the company claims that this study, which is the largest prospective study in RFA for bone metastases, to be the most meaningful clinical data for the OsteoCool technology yet.

The study, which included a total of 218 patients, was conducted at various centers in the United States, Europe and Canada.

For investors’ note, the results were published in the November edition of the Journal of Vascular and Interventional Radiology.

The latest positive study results are expected to further strengthen Medtronic’s position in the global Interventional Pain Therapies business, which belongs to the broader Restorative Therapies Group.

Significance of the Positive Study Outcome

The study demonstrated that patients experienced significant and faster pain relief at three days post-procedure. Also, sustained improvements in pain and quality of life were experienced for up to six months. Per a medical professional associated with this field, the meaningful data indicates that this therapy can be moved up and be used earlier than before in the cancer treatment model.

Metastasized cancer, which has moved to the surrounding bones, can severely impact quality of life and cause complications such as pain and fractures. Traditionally, radiation therapy has been considered the gold standard palliative (soothing) treatment for patients with bone metastases. However, at times, patients receive inadequate treatment or are left with undermanaged pain control due to the failure of traditional therapies. In such cases, OsteoCool system can be used as an adjunctive treatment which does not disrupt other systemic therapies.

Management believes that the positive study outcome will create awareness about a treatment option that can accelerate the relief from debilitating pain for cancer patients.

Industry Prospects

Per a report by Grand View Research, the global RFA devices market was valued at $2.8 billion in 2018 and is anticipated to expand at a CAGR of 11.6% between 2019 and 2026. Factors like the growing prevalence of chronic diseases, rising elderly population who are more susceptible to chronic diseases and preference for minimally invasive surgeries are likely to drive the market.

Given the market potential, the favorable study is an important stepping stone for strengthening Medtronic’s business worldwide.

Recent Developments in Restorative Therapies Group

Of late, Medtronic has been witnessing few developments in this business arm.

The company, in November, completed its friendly tender offer for France-based Medicrea International, which is a renowned player in the transformation of spinal surgery. Notably, the friendly voluntary all-cash tender offer was announced in July this year.

In October, Medtronic received the FDA’s 510(k) clearance for the NIM Vital nerve monitoring system. The system enables physicians to identify, confirm and monitor nerve function to help reduce the risk of nerve damage during head and neck surgeries. The same month, the company announced favorable results from a 12-month large multicenter randomized controlled trial which further validated the superiority of DTM Spinal Cord Stimulation (“SCS”) in providing back pain relief unlike conventional SCS therapy, using its Intellis platform.

Also in October, Medtronic announced the U.S. launch of Adaptix Interbody System, which is the first 3D printed titanium implant developed in-house by the company’s engineers and incorporates the state-of-the-art Titan nanoLOCK Surface Technology. The FDA approval for Adaptix was received in August.

Price Performance

Shares of the company have gained 0.5% in the past year compared with the industry’s 1.8% rise and the S&P 500’s 15.9% growth.

Zacks Rank & Key Picks

Currently, Medtronic carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Hologic, Inc. HOLX, Thermo Fisher Scientific Inc. TMO and ResMed Inc. RMD.

Hologic’s long-term earnings growth rate is estimated at 17.4%. The company presently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Thermo Fisher’s long-term earnings growth rate is estimated at 18%. It currently carries a Zacks Rank #2 (Buy).

ResMed’s long-term earnings growth rate is estimated at 14.5%. The company presently carries a Zacks Rank #2.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Medtronic PLC (MDT) : Free Stock Analysis Report
 
Hologic, Inc. (HOLX) : Free Stock Analysis Report
 
ResMed Inc. (RMD) : Free Stock Analysis Report
 
Thermo Fisher Scientific Inc. (TMO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research