Morgan Stanley Reports Medtronic Endeavor Potential Underapreciated

According to Morgan Stanley, Medtronic (NYSE: MDT) endeavor potential is underappreciated.

Morgan Stanley reported that RESOLUTE US data showed encouraging efficacy results and a very low rate of stent thrombosis that directly addressed safety concerns on prior data. “The study was non-randomized, which limits our abilityto compare directly to other trials, but absolute event rates were very low and seem comparable to the current market leader Xience. At one year, TLF was 4.7%, TLR was 2.8%, and stent thrombosis was only 0.1%, lower than seen in either arm of the PLATINUM study at 0.4%. In conjunction with solid two-year data from the RESOLUTE All-Comers trial presented yesterday, RESOLUTE US may build a strong case for clinical equivalence with Xience and Promus Element.”

Medtronic closed yesterday at $39.50.