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Piper Sandler identified Abbott Laboratories (NYSE:ABT), Edwards Lifesciences (NYSE:EW), and Glaukos (NYSE:GKOS) as the medical technology companies with the most potential catalysts over the next 12-18 months, according to a research note released Monday.
The investment firm counted eight potential catalysts each for the three companies during the second half of 2025 and through 2026. Piper Sandler highlighted Abbott’s dual-analyte glucose and ketone sensor, Edwards’ PROGRESS moderate aortic stenosis data expected in Q4 2026, and Inspire Medical (TASE:BLWV)’s (NYSE:INSP) Gen 5 device launch as the "most overlooked or under-appreciated catalysts" in the sector.
Abbott emerged as Piper Sandler’s top large-cap pick, with analysts citing its "durable high-single-digit top-line and low double-digit adjusted EPS growth" potential. The firm views Abbott’s current valuation of approximately 24 times 2026 consensus earnings as attractive given expected U.S. approvals of its Volt PFA catheter and dual-analyte sensor.
In the small and mid-cap space, Glaukos topped Piper Sandler’s list as the firm expects the company’s iDose product to gain momentum over the next 12-18 months. Analysts also believe Glaukos will "positively surprise on P&L leverage" and noted the company represents "an attractive strategic asset with a broader pipeline that’s not getting enough credit."
Inspire Medical was highlighted as Piper Sandler’s "favorite contrarian idea," with analysts acknowledging current negative sentiment but arguing shares are "dislocated at this level." The firm believes the company’s Gen 5 implantable pulse generator could improve procedure times, potentially enhancing capacity and center utilization.
In other recent news, Vicarious Surgical Inc. reported its Q1 2025 financial results, highlighting a decrease in operating expenses and advancements in its surgical robotic systems. The company recorded an adjusted net loss of $15.3 million, or $2.58 per share. Operating expenses decreased by 2% compared to Q1 2024, with R&D expenses reduced to $9.4 million, while G&A expenses increased slightly to $5.3 million. Vicarious Surgical is progressing toward becoming a clinical-stage company in 2025, with plans for initial human clinical trials later in the year. The company is leveraging strategic partnerships to optimize surgical workflows, including a new collaboration with UMass Memorial Medical Center. Analysts from firms like BTIG and TD Cowen have been inquiring about the company’s cash management and supply chain, with Vicarious Surgical emphasizing disciplined spending and effective supply chain management. The company ended the quarter with a cash balance of $37 million and anticipates a full-year cash burn of $50 million.
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