St. Jude Medical, Inc. STJ has lately been firing on all cylinders. The company is focused on expanding its product portfolio for heart failure management, as reflected by a couple of important regulatory approvals attained in recent months.
The company announced the CE Mark approval for magnetic resonance imaging (MRI) compatibility on its Quadra Assura Cardiac Resynchronization Therapy Defibrillator (CRT-D). Notably, the company also gained CE Mark approval for the Quadra Assura MP CRT-D and Quadra Assura CRT-D in 2013 and 2012, respectively.
Quadra Assura MP CRT-D is integrated with the advanced MultiPoint Pacing (MPP) technology that delivers pacing to multiple locations in the heart rather than the traditional single pulse for each heartbeat. Quadra Assura CRT-D, on the other hand, has been statistically proven to decrease hospitalization rates by almost 53%.
Now, with the newest approval, patients implanted with these devices can avail MRI scan in case of an emergency. We believe that the incorporation of MRI to St. Jude’s quadripolar technology will help St. Jude increase its existing customer base.
Meanwhile, this October, St. Jude also received CE Mark approval for its HeartMate 3 Left Ventricular Assist System (LVAS). The company will start to commercialize the product in limited markets for now, while it will be launched in additional markets in 2016.
HeartMate 3 is a next-generation continuous-flow left ventricular assist device (LVAD) based fully on magnetically levitated technology. HeartMate 3 became part of St. Jude’s product portfolio following the recent buyout of Thoratec.
Zacks Rank & Stocks to Consider
Currently, St. Jude carries a Zacks Rank #3 (Hold). Better-ranked stocks in the medical sector are Masimo MASI, Natus Medical BABY and Olympus Corp OCPNY. All the stocks sport a Zacks Rank #1 (Strong Buy).
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