Medtronic (MDT) Receives FDA Clearance for MiniMed Go App Integrating Smart Insulin Pen
Written by Emily J. Thompson, Senior Investment Analyst
Source: seekingalpha
- FDA Approval: Medtronic's MiniMed Go app has received 510(k) clearance from the FDA, marking a significant technological advancement in diabetes management and expected to enhance the company's competitive position.
- Real-Time Data Integration: The app integrates Abbott's InPen smart insulin pen and Instinct sensor, providing real-time glucose data and dose calculations to help users manage diabetes more effectively.
- Enhanced User Experience: The MiniMed Go app offers missed dose alerts and actionable guidance, aimed at improving patient adherence to medication, thereby enhancing overall health outcomes.
- Broad Market Potential: With the rising number of diabetes patients, the app's launch not only meets market demand but also positions Medtronic to capture a larger share in the rapidly growing diabetes management market.
Analyst Views on ABT
Wall Street analysts forecast ABT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABT is 147.24 USD with a low forecast of 136.00 USD and a high forecast of 162.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
17 Buy
2 Hold
0 Sell
Strong Buy
Current: 125.920
Low
136.00
Averages
147.24
High
162.00
Current: 125.920
Low
136.00
Averages
147.24
High
162.00
About ABT
Abbott Laboratories is a global healthcare company. The Company’s principal business is the discovery, development, manufacture, and sale of a broad and diversified line of healthcare products. Its segments include Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Established Pharmaceutical Products segment is engaged in the international sales of a broad line of branded generic pharmaceutical products. Diagnostic Products segment is involved in the worldwide sales of diagnostic systems and tests for blood banks, hospitals, commercial laboratories and alternate-care testing sites. Nutritional Products segment is engaged in the worldwide sales of a broad line of adult and pediatric nutritional products. Medical Devices segment is involved in the worldwide sales of rhythm management, electrophysiology, heart failure, vascular, structural heart, neuromodulation and diabetes care products. It serves people in more than 160 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
