After the FDA announced approval of Medtronic’s (MDT) 780G system, Morgan Stanley analyst Cecilia Furlong called the news "an incremental positive," but adds that the firm continues to see an innovation gap in Medtronic’s current portfolio compared to peers. Total MDI new patient starts in calendar Q4 of 2022 represented a new record high for Insulet (PODD) and the firm continues to view Omnipod’s unique form factor and pharmacy access "acting as a competitive moat," the analyst tells investors. Morgan Stanley has an Equal Weight rating and $88 price target on Medtronic shares.
Published first on TheFly
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