CMS coverage decision a win for Medtronic, says JPMorgan

JPMorgan keeps a Neutral rating on Medtronic (MDT) after the Centers for Medicare and Medicaid Services released a proposed national coverage decision for renal denervation. The decision calls for coverage for a broad swath of hypertensive patients, the analyst tells investors in a research note. JPMorgan says there is no arguing that a broad national coverage decision f for renal denervation is a win for Medtronic. This will allow the company to begin targeting this potentially multi-billion dollar opportunity once the final rule is released in October, contends the analyst. However, JPMorgan believes it will “take some time to get there” as the company will need to educate primary care physicians and general cardiologists.