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Medtronic: September CPT panel agenda a positive step for RDN (and tibial).

发布日期: 2026-07-13研究机构: BofA Global Research公司 / 股票: MDT.N报告页数: 9原文语言: 英语证据页码: 1

研报英文原文证据摘录

Medtronic: September CPT panel agenda a positive step for RDN (and tibial).

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Medtronic

September CPT panel agenda a positive

step for RDN (and tibial).

Maintain Rating: BUY | PO: 95.00 USD | Price: 83.87 USD

AMA CPT agenda a positive step for MDT pipeline 13 July 2026

On Friday, the AMA released its September CPT Panel agenda, which included requests Equity

to convert both RDN and tibial neurostim (altaviva) from cat 3 to cat 1 codes. This is a

nice step in the right direction for two of MDT’s important growth drivers but it likely TravisResearchSteedAnalyst

takes 1.5+ years to see a real impact. A September approval means the code would likely BofAS

be effective Jan 1, 2028. Our latest bottoms up model for MDT with all the pipeline +1travis.steed@bofa.com404 607 3251

drivers can be found in our latest note: What it takes for MDT to sustain 6%+. Stephanie Elghazi

Research Analyst

Cat 1 code a critical step to unlock RDN market BofASstephanie.elghazi@bofa.com

RDN currently has no standardized doctor payment for Medicare and commercial cases. Aidan Lahey

Docs and hospital billing teams are cross-walking to a comparable procedure (ACC has Research Analyst

BofAS

suggested renal artery stenting), creating admin burden and payment uncertainty. Our aidan.lahey@bofa.com

RDN diligence has highlighted the lack of cat 1 code as a real headwind (see note: RDN Gracia Mahoney

training session). Even if the doc fee ends up lower than cross-walked codes, payment Research Analyst

clarity should help grow sites and volume. RDN has been rejected for cat 1 twice before, gracia.mahoney@bofa.com

but this is the first review after the final NCD. We think a denial is less likely given Enjia Cao

limited precedent for rejecting cat 1 conversion once CMS has established NCD.

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