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Medtronic (MDT) Shares Positive Data for MiniMed 780G System

Medtronic plc MDT recently shared a comprehensive set of new data emphasizing the benefits of the MiniMed 780G insulin pump system. The latest findings demonstrate how the system addresses hyperglycemia and nighttime burden, adding to the pool of evidence proving the system's ability to tackle the difficulties of diabetes, such as managing highs and meal-time management or carb counting while mirroring outcomes across a diverse population.

The company presented the series of data at the American Diabetes Association's 84th Scientific Sessions. The MiniMed 780G system is available in more than 100 countries worldwide, suitable for individuals aged seven and above.

Impact of MiniMed 780G on Dealing With Hyperglycemia

Within the challenges of managing diabetes, hyperglycemia is often not given much attention compared to hypoglycemia. In the United States, only 26% of people living with diabetes achieve the target HbA1c levels of less than 7%, reflecting a significant unmet need to reduce high blood sugar. This can lead to serious health problems impacting multiple organs, including adverse effects on the children's memory, IQ, executive functioning and learning.

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According to Medtronic, high blood sugar is triggered by the dawn phenomenon, an increase in glucose levels in the early morning. The company presented an encouraging new retrospective analysis of real-world data of 6,026 participants that showed that the morning peak was nearly eliminated for users who upgraded from the MiniMed 770G system to the MiniMed 780G system.

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Based on the assessed data, the transition from the MiniMed 770G system to the MiniMed 780G system decreased dawn phenomenon rates from 12.2% to 4.5%. Additionally, the Time in Range (TIR) improved from 87.7% to 91.4% from 12 to 6 a.m., which is consistent with dawn phenomenon trends.

Relevance of MiniMed 770G on Reducing Nighttime Burden

People with type 1 diabetes experience sleep disruptions due to CGM-generated alerts and the need to deliver manual boluses, further adding to the challenges of managing the disease. In this regard, the MiniMed 780G system reduces the burden of diabetes throughout the day and night.

The recent real-world data demonstrated that users had fewer overnight sleep interruptions and TIR improvements as a result of the automatic adjustments in insulin and correction of glucose levels every five minutes, including during sleep. Medtronic’s analysis featured 8,019 participants less than seven years old, who were previously on the MiniMed 770G system and had greater than 14 nights on both systems.

The MiniMed 780G system reduced nighttime alerts by 45% for all users and 55% for those who used recommended optimal settings. In addition, uninterrupted sleep increased by 30 and 36 minutes per night, respectively.

More on the News

The company will present additional data on the next iteration of the MiniMed 780G system, which pairs with the disposable, all-in-one Simplera Sync sensor. A 24-site, single-arm study evaluating the new system algorithm, together with the sensor, showed promising results across all clinical outcomes metrics, including TIR, Time in Tight Range (TITR) and Time Above Range (“TAR”).

This was in comparison to the run-in group where hybrid closed loop (auto basal only) or open-loop delivery was used. Furthermore, the study included the use of recommended optimal settings for TIR, TITR and TAR. Currently, Simplera Sync is investigational and not approved for commercial use in the United States.

Industry Prospects

Per a Research report, the global diabetes device market was valued at $30.31 billion (estimated) in 2023 and is expected to witness a CAGR of 7.5% by 2030. The market continues to be mainly driven by the growing prevalence of diabetes, advanced technology, the growing usage of insulin delivery devices and the rise in obesity rates.

Notable Developments

Earlier, in May 2024, Medtronic’s MiniMed 780G system was recognized in the Best World-Changing Idea, North America category as part of the 2024 World Changing Ideas Awards. This marks the fourth consecutive year that the company has been recognized on the list, having been previously recognized for GI Genius, the Micra leadless pacemaker and Medtronic LABS.

Price Performance

In the past year, Medtronic shares have dropped 6.9% compared with the industry’s decline of 0.8%.

Zacks Rank and Key Picks

Medtronic currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Hims & Hers Health HIMS, ResMed RMD and Medpace MEDP. While Hims & Hers Health sports a Zacks Rank #1 (Strong Buy), ResMed and Medpace each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.

Hims & Hers Heath stock has surged 169.4% in the past year. Estimates for the company’s earnings have increased from 18 cents to 19 cents in 2024 and from 33 cents to 35 cents in 2025 in the past seven days.

HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.

Estimates for ResMed’s fiscal 2024 earnings per share have remained constant at $7.70 in the past 30 days. Shares of the company have declined 15% in the past year compared with the industry’s fall of 0.7%.

RMD’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 2.8%. In the last reported quarter, it delivered an earnings surprise of 10.9%.

Estimates for Medpace’s 2024 earnings per share have remained constant at $11.29 in the past 30 days. Shares of the company have surged 81.2% in the past year compared with the industry’s 5.4% growth.

MEDP’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 12.8%. In the last reported quarter, it delivered an earnings surprise of 30.6%.

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