Posted 12/14/2023, 11:11:00 PM
Medtronic Stock Rises on FDA Approval of New Atrial Fibrillation Device, But Analysts Urge Caution on Buying
- Medtronic stock rose 2% on Thursday following FDA approval of its new PulseSelect PFA System
- The system treats atrial fibrillation (irregular heartbeat) using electric pulses to induce scarring in the heart
- Approval marks first PFA device cleared by FDA for use in the U.S.
- Medtronic aims to commercialize PulseSelect in early 2024 to tap large AF market (60 million globally)
- Analysts caution investors on buying Medtronic stock right now compared to other opportunities