Zacks published a recent report on Medtronic's gains since launching the Kyphon Express II Balloon Kyphoplasty Platform.
Here are five key concepts from the report:
1. Medtronic's share price was up 0.5 percent after the news was release, closing that day at $66.53. However, a few days after launching the product — Sept. 22 — stock price opened at $65.95.
2. The Kyphon Cement Delivery System was originally launched in the United States in 2009. The next generation technology features a "quick release" button for more precise control over cement flow in the spine and a longer shelf life.
3. In the last Medtronic financial report, the company's interventional spine business grew 4 percent. The interventional spine business is primarily the balloon kyphoplasty products, and in the United States, Medtronic stabilized trends in the technology's use.
4. The new technology allows interventional physicians to treat more levels of the spine and is designed to achieve better patient outcomes with individualized treatment. As a result, Medtronic expects the new system to be accretive to Medtronic's spine business in future quarters.
5. Medtronic has a Zacks Rank #3 — a hold. The company's market cap is $64.6 billion.