Positive Trial Data on Symplicity RDN System Likely to Support MDT Stock

Medtronic plc MDT recently shared long-term data from its SPYRAL HTN-ON MED clinical trial. The trial data showed significantly greater reductions in 24-hour ambulatory systolic blood pressure (ABPM) and office-based systolic blood pressure (OSBP) in subjects who underwent radiofrequency renal denervation with the company’s Symplicity Spyral renal denervation (RDN) system compared to sham patients at two years. The findings were presented at the 2024 Transcatheter Cardiovascular Therapeutics Conference.The latest findings are crucial for informing the medical community about the long-term effectiveness of radiofrequency renal denervation in treating uncontrolled hypertension. MDT’s Likely Stock Trend Following the NewsSubsequent to the news, the share price of MDT moved north 0.01% to $90.60 yesterday. The latest development is likely to boost the company’s Coronary and Renal Denervation business within the Cardiovascular portfolio. With cutting-edge technologies like the Symplicity RDN system, Medtronic’s extensive investment and development efforts position it well to capitalize on this opportunity. We expect market sentiment toward MDT stock to continue to remain positive surrounding this news.Medtronic boasts a market capitalization of $116.20 billion. The company delivered an average earnings surprise of 3.07% in the trailing four quarters.More on Medtronic’s Favorable Trial ResultsSPYRAL HTN-ON MED is a global, randomized, sham-controlled trial investigating the blood pressure-lowering effect and safety of RDN with the radiofrequency-based Symplicity Spyral RDN system in hypertensive patients who have been prescribed up to three anti-hypertensive medications. After the six-month primary endpoint assessment, the study continued to assess 24-hour ABPM and OSBP from baseline through yearly follow-ups.The latest two-year data for the Symplicity RDN system is consistent with other long-term data, demonstrating clinically meaningful, consistent and sustained blood pressure reductions. Data showed significant group differences in 24-hour ABPM and OSBP in favor of RDN despite significantly more medications detected in the sham group. Additionally, data revealed long-term safety with no confirmed renal artery stenosis greater than 70% in the Spyral group at two years. Medtronic’s Business AdvancementsThe company intends to investigate multi-organ (hepatic and renal artery) denervation with the Symplicity Spyral catheter. The planned Global Pilot study of renal and hepatic combined denervation (SPYRAL GEMINI pilot study) will investigate the safety and efficacy of the multi-organ ablation approach in uncontrolled hypertension patients who are both on and off medications. Additionally, Medtronic anticipates expanding the GSR-DEFINE clinical trial to sites in the United States. The GSR-DEFINE trial is an extension of the Global SYMPLICITY Registry. Approved for commercial use in more than 75 countries around the world, the Symplicity Spyral renal denervation system is currently limited to investigational use in Japan. Image Source: Zacks Investment ResearchIndustry Prospects Favor MDTPer a report from Data Bridge Market Research, the hypertension management devices market is expected to reach $9.50 billion by 2029 at a CAGR of 7.3% during 2022-2029.Key factors such as the expanding volume of patients suffering from hypertension-associated disorder, lack of effective management therapies, increasing attainment of positive clinical data from the various clinical trials, and growing rate of awareness are likely to boost the growth of this market.MDT’S Recent Development Earlier this month, Medtronic received FDA approval for its Affera Mapping and Ablation System with Sphere-9 Catheter. It is an all-in-one, high-density mapping and pulsed-field and radiofrequency ablation catheter for the treatment of persistent atrial fibrillation and RF ablation of cavotricuspid isthmus-dependent atrial flutter.MDT Share Price PerformanceIn the past three months, MDT’s shares have risen 29.5% compared with the industry’s 32.1% growth.MDT’s Zacks Rank and Key PicksMedtronic currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader medical space are Boston Scientific BSX, Globus Medical GMED, and ResMed RMD, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Boston Scientific’s shares have risen 69.3% in the past year. Estimates for the company’s earnings per share (EPS) have jumped 2.5% to $2.46 for 2024 and 2.2% to $2.77 for 2025 in the past 30 days. BSX’s earnings beat estimates in each of the trailing four quarters, delivering an average beat of 8.3%. In the last reported quarter, it posted an earnings surprise of 8.6%.Estimates for Globus Medical’s 2024 EPS have remained constant at $2.84 in the past 30 days. Shares of the company have surged 60.6% in the past year compared with the industry’s growth of 32.7%. GMED’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 12.1%. In the last reported quarter, it delivered an earnings surprise of 10.3%.Estimates for ResMed’s fiscal 2025 EPS have risen 2.7% in the past 30 days. Shares of the company have surged 86.3% in the past year compared with the industry’s 32.1% growth. RMD’s earnings surpassed estimates in each of the trailing four quarters, the average beat being 6.4%. In the last reported quarter, it delivered an earnings surprise of 8.4%.Research Chief 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.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 Boston Scientific Corporation (BSX): Free Stock Analysis Report Medtronic PLC (MDT): Free Stock Analysis Report ResMed Inc. (RMD): Free Stock Analysis Report Globus Medical, Inc. 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