Medtronic’s stock experienced a notable increase at the start of the trading week, rising by nearly 3% as investors responded positively to recent news about one of its products. This gain significantly outpaced the S&P 500, which closed with an increase of 0.6%.
On Sunday, Medtronic released five-year data from a low-risk clinical trial of its Evolut transcatheter aortic valve replacement (TAVR) system. The trial compared TAVR, which aids patients with aortic stenosis, against surgical aortic valve replacement (SAVR) in participants with severe forms of the disorder. The results indicated that TAVR had comparable rates of all-cause mortality or disabling stroke to SAVR. Additionally, Medtronic’s device exhibited superior valve performance over the five-year duration.
Kendra Grubb, the chief medical officer of Medtronic’s structural heart unit, commented on the results, stating that the Evolut system showed lasting clinical outcomes on par with surgery and a trend toward reduced cardiovascular mortality over five years.
The news supports the viability of Evolut as a surgical alternative, a significant advantage considering that approximately 300,000 severe aortic stenosis cases are diagnosed each year, as per the University of Michigan data.
Eric Volkman, the article’s author, has disclosed no positions in any mentioned stocks. Meanwhile, The Motley Fool has positions in Medtronic and has recommended certain options.