MDT Stock Gains From FDA Approval for Its InPen App [Yahoo! Finance]
ResMed Inc. (RMD)
Last resmed inc. earnings: 4/30 04:05 pm
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Source: Yahoo! Finance
This latest FDA clearance should pave the way for the launch of the company's Smart MDI system, which combines the InPen smart insulin pen with its newest Simplera continuous glucose monitor (CGM). Medtronic will initiate a limited market release with existing standalone CGM and InPen customers, followed by a broad commercial launch. Subsequent to the news, the share price of MDT moved north 0.7% to $84.74 yesterday. The latest development is likely to boost the company's Diabetes segment. The company is gaining a high level of synergies from its continuous effort to develop diabetes management products. Medtronic is experiencing continued adoption of the MiniMed 780G automated insulin delivery system, along with increasing CGM attachment rates and the continued rollout of Simplera Sync. Accordingly, we expect market sentiment toward MDT stock to continue to remain positive surrounding this news. Medtronic boasts a market capitalization of $116.20 billion. The company delivere
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