Medtronic, Inc. (MDT) Close to Cracking Renal Denervation, a $1B Market - SunTrust

SunTrust analyst Kaila Krum reiterated a Buy rating and $130.00 price target on Medtronic, Inc. (NYSE: MDT) after the company announced positive results from its SPYRAL HTN-OFF MED Pivotal Trial (studying renal denervation in patients with uncontrolled high blood pressure currently not taking anti-hypertensive medications) in a Late Breaking Session at the Virtual ACC Conference.

• At 3-months, the results from the SPYRAL HTN-OFF MED demonstrated clinical superiority in all blood pressure (BP) measures in patients who received RDN therapy.
• The Symplicity Spyral renal denervation system received a Breakthrough Device designation on Friday

The analyst stated "After a turbulent history of US pivotal trial failures and efforts by several companies in renal denervation, we’re pleased to see steady progress towards FDA approval. We think Medtronic will be first to market and that the opportunity could be $1B market by 2026".

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $91.04 yesterday.

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