With Less Than 10% Contribution To Sales How Important Is The Diabetes Segment For Medtronic Stock? [Forbes]
Boston Scientific Corporation (BSX)
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Source: Forbes
diabetes segment, which sells insulin pumps, continuous glucose monitoring systems, and consumables has seen its revenue rise at a slower pace of 1.4% annually from $2.4 billion in fiscal 2020 (fiscal ends in April) to $2.5 billion in fiscal 2024. The slower growth can be attributed to unfavorable currency translation, given that over 60% of the segment sales are derived from markets outside the U.S. However, we think the company will see a pickup in diabetes sales going forward. The U.S. FDA approved the MiniMed 780G insulin pump system with Guardian 4 Sensor in April 2023, which will likely bolster the segment sales. The new system features meal detection technology, and it autocorrects sugar levels every five minutes. Diabetes accounts for only 8% of the company's total sales. Medtronic supplies self-manufactured medical devices and therapies to treat several chronic diseases across 150 countries in the world. Medtronic operates in the following broad segments — Cardiovascular,
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