Oppenheimer Reports Another Pipeline Add And Checks At ACC On Medtronic

According to Oppenheimer, Medtronic (NYSE: MDT) continued to add to its list of near-term pipeline launches with late Friday's FDA approval of InterStim TherapyBowel Control.

Oppenheimer reported that the fecal incontinence indication has been a solid driver of InterStim sales in the EU. “The US launch begins now. Also, our conversations with management at the ongoing ACC in New Orleans and data presentations here suggest good initial response to MDT's Revo MRI pacemaker in the US, Resolute stent data which remains solid at two years and a US Corevalve trial that continues well on track. We expect the near-term pipeline to accelerate sales growth over the next 12 months and longer-term pipeline (Corevalve, Ardian) to increase in focus over the next year as well.”

Medtronic closed on Friday at $12.19.