Abbott's (ABT) CardioMEMS Favors Heart Failure Management
Abbott Laboratories ABT recently announced favorable findings on remote pressure monitoring. This study result was presented at the Technology and Heart Failure Therapeutics Conference in Boston, MA.
The data revealed that monitoring patients remotely with hemodynamic pressure sensing technology can significantly improve the survival rate of heart failure patients with reduced ejection fraction (HFrEF).
The latest clinical data within the company’s Heart Failure business generates optimism among clinicians and patients suffering from this progressive disease.
Details on the Study
The meta-analysis combined data from the CHAMPION, GUIDE-HF and LAPTOP-HF trials, to assess the mortality and heart failure-related hospitalizations of 1350 HFrEF patients. Among randomized trials, slightly less than half patient population was subjected to hemodynamic monitoring, while the rest received control. Heart failure hospitalizations were analyzed over 12 months, and all-cause mortality was evaluated across 24 months.
The ground-breaking research confirms that remote patient monitoring technology like CardioMEMS can provide an early warning against worsening heart failures and significantly reduce mortality risks among HFrEF patients by 25% in two years.
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ABT’s advanced monitoring technology, CardioMEMS HF System, remotely monitors changes in pulmonary artery pressure, which is considered an early indicator of worsening heart failure. The FDA-cleared, CardioMEMS sensor device wirelessly transmits daily readings to a patient’s clinical team. This empowers patients and their care team to manage their condition from virtually anywhere.
The incidence of heart failure is a growing health crisis, which demands innovative solutions. Per a representative at Abbott, the analysis establishes that remote pressure monitoring has the ability to reduce hospitalizations and should be considered for patients with a weak heart.
Per a Research report, the global hemodynamic monitoring system market was valued at $1.47 billion in 2021 and is expected to witness a CAGR of 6.73% by 2030.
High technology developments in hemodynamic monitoring systems, the rising prevalence of cardiovascular diseases & Type-2 diabetes and a government focus on critical care infrastructure and services are driving the market growth.
Earlier this month, ABT received FDA clearance for the first, commercially-available laboratory, traumatic brain injury (TBI) blood test. Conducted on Abbott’s Alinity i laboratory instrument, the test will help clinicians quickly assess individuals with mild concussions, thus ruling out the need for a CT scan. The TBI test will be available across hospitals in the United States.
Additionally, Abbott also received FDA Clearance for its integrated continuous glucose monitoring (iCGM) system sensors — FreeStyle Libre 2 and FreeStyle Libre 3 — for integration with automated insulin delivery systems. The clearance allows people across the country to have an affordable option to pair with insulin pumps.
In the past six months, Abbott has mostly underperformed its industry. ABT shares have decreased 0.2% compared with the industry’s rise of 4.8%.
Zacks Rank and Key Picks
Abbott Laboratories currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Haemonetics Corporation HAE, Catalyst Pharmaceuticals CPRX and Avanos Medical AVNS. Haemonetics and Catalyst Pharmaceuticals each sport a Zacks Rank #1 (Strong Buy), while Avanos Medical has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 29.0% in the past year. Earnings estimates for Haemonetics have remained constant at $2.94 in 2023 and $3.29 in 2024 in the past 30 days.
HAE’s earnings beat estimates in all the last four quarters, delivering an average surprise of 10.98%. In the last reported quarter, it reported an earnings surprise of 7.59%.
Estimates for Catalyst Pharmaceuticals’ 2023 earnings have increased from $1.17 to $1.42 in the past 30 days. Shares of the company have increased 102% in the past year.
CPRX’s earnings beat estimates in three quarters while beating the same in one, the average surprise being 3.35%. In the last reported quarter, Catalyst Pharmaceuticals delivered an earnings surprise of 4.76%
Estimates for Avanos Medical’s 2023 earnings have remained constant at $1.68 in the past 30 days. Shares of the company have declined 15.2% in the past year compared with the industry’s fall of 16.3%.
AVNS’ earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, Avanos Medical delivered an earnings surprise of 25%.
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