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Medtronic plc (NYSE: MDT) is an American medical device company with its operational and executive headquarters in Minneapolis, Minnesota, and legal headquarters in Dublin, Ireland, following its acquisition of Covidien in 2015. As one of the largest medical-device companies globally, Medtronic specializes in developing and manufacturing therapeutic medical devices for chronic diseases.
The company’s extensive product portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. It markets these products to healthcare institutions and physicians worldwide, with international sales accounting for approximately 50% of its total revenue.
In a recent announcement on April 10, 2024, Medtronic unveiled significant advancements in artificial intelligence (AI) for endoscopic care through the launch of ColonPRO™ software for the GI Genius™ intelligent endoscopy system. This new software improves polyp detection and introduces procedural highlights to enhance physicians' workflow. The company has also entered into a collaboration with Modernizing Medicine® to integrate AI-driven data with electronic health records (EHR).
Medtronic recently reported its financial results for the fourth quarter and fiscal year 2024, showcasing a global revenue of $32.364 billion, a 3.6% increase compared to the previous year. The company's revenue growth was fueled by advancements in its Cardiovascular, Neuroscience, Medical Surgical, and Diabetes portfolios.
In addition to its financial performance, Medtronic has made strides in technological innovation. The U.S. FDA approved the Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS) for chronic pain treatment, demonstrating the company’s commitment to addressing unmet clinical needs and improving patient care through advanced technologies.
Medtronic remains dedicated to its mission of alleviating pain, restoring health, and extending life, driven by a global team of over 95,000 employees across 150 countries. The company continues to leverage its diverse knowledge and insatiable curiosity to deliver innovative solutions that transform lives. For more information, visit Medtronic's official website.
Medtronic (NYSE: MDT) has appointed Thierry Piéton as Chief Financial Officer, effective March 3, 2025. Piéton, who joins from Renault Group where he served as CFO since March 2022, will report to Chairman and CEO Geoff Martha and join the Executive Committee.
Under Piéton's leadership at Renault, the company achieved record operating margins and improved free cash flow, while executing portfolio management through acquisitions, divestitures, and innovative partnerships. His experience spans healthcare and regulated manufacturing industries, including roles at Nissan Motor, General Electric, GE Healthcare, and PricewaterhouseCoopers.
Gary Corona, who has been serving as interim CFO, will transition to Senior Vice President, Corporate Finance and remain on the Executive Committee. During Corona's interim tenure, Medtronic delivered revenue growth and exceeded EPS expectations in the first and second quarters.
Medtronic (NYSE: MDT) announced that the Centers for Medicare & Medicaid Services (CMS) is initiating a national coverage analysis (NCA) for renal denervation procedures for hypertension patients. This analysis will help develop a national Medicare coverage policy for the Symplicity™ Spyral renal denervation system, a minimally invasive treatment for high blood pressure.
The NCA was initiated in response to Medtronic's request to support Medicare beneficiary access to the system. This follows Medtronic's collaboration with CMS on the Transitional Coverage for Emerging Technologies (TCET) pathway for the FDA-approved breakthrough device. The expected completion date for the national coverage analysis is October 11, 2025. Until then, Symplicity blood pressure procedures will continue to be evaluated for coverage based on individual Medicare patient medical necessity.
Medtronic (NYSE:MDT) has received CE Mark approval in the EU and UK for BrainSense™ Adaptive deep brain stimulation (aDBS) and BrainSense™ Electrode Identifier (EI). This marks a significant advancement in personalized DBS therapy for Parkinson's disease patients.
The BrainSense™ aDBS system is the world's only closed-loop DBS system that provides real-time, self-adjusting brain stimulation based on each patient's unique brain activity. The technology can dynamically adjust stimulation both in clinical settings and daily life. The BrainSense™ Electrode Identifier improves DBS programming by ensuring optimal initial contact selection in less time.
The first programming was completed by Dr. Martijn Beudel at Amsterdam University Medical Center. The technology will be available in Europe in early 2025, while FDA approval is pending in the United States. This innovation builds on Medtronic's 30-year history in DBS therapy, which has served over 185,000 people across 70 countries.
Medtronic plc (NYSE:MDT), the global healthcare technology leader based in Galway, Ireland, has announced its participation in the 43rd annual J.P. Morgan healthcare conference on Monday, January 13, 2025. Geoff Martha, chairman and CEO, will deliver a formal presentation and participate in a Q&A session starting at 2:15 p.m. PST.
The presentation and Q&A session will be accessible via live webcast through Medtronic's investor relations website, with an archived version available later that day. Medtronic employs over 95,000 passionate professionals across more than 150 countries, focusing on treating 70 health conditions through various technologies including cardiac devices, surgical robotics, insulin pumps, and patient monitoring systems. The company's mission centers on alleviating pain, restoring health, and extending life, helping two people every second globally.
Medtronic (NYSE: MDT) has declared a quarterly cash dividend of $0.70 per ordinary share for the third quarter of fiscal year 2025. The dividend will be payable on January 10, 2025, to shareholders of record as of December 27, 2024. This declaration aligns with the dividend increase announced in May 2024.
As a member of the S&P 500 Dividend Aristocrats index, Medtronic has maintained a 47-year streak of consecutive annual dividend increases. The company operates globally with 95,000+ employees across 150+ countries, focusing on healthcare technology solutions that address 70 different health conditions.
Medtronic addresses the environmental impact of healthcare technology, highlighting that the healthcare sector contributes to 4.6% of global greenhouse gas emissions. The company emphasizes three key approaches to sustainable healthcare: recognizing development timelines, reimagining products and packaging, and recruiting partners. Medtronic has installed 22 solar arrays across 16 locations, generating over 35 MWs of power, and signed a virtual power purchase agreement to cover nearly all U.S. energy needs. The company is focusing on sustainable product design through its Sustainability Development Center and emphasizes the importance of supply chain collaboration, as Scope 3 emissions account for over 90% of their carbon footprint.
Medtronic has released its fiscal year 2024 Impact Report, highlighting achievements in healthcare equity and environmental sustainability. The report features the success of the Healthy Neighbor program, showing 71% of enrolled patients with high blood pressure and 63% with uncontrolled diabetes achieved meaningful progress. The company reached 51% women in its global workforce and reduced emissions intensity by 52% compared to FY20. Key accomplishments include investing $2.7 billion in R&D, improving healthcare access for over 78 million patients, and meeting 42% of operational energy needs with renewables. The company is on track for several sustainability goals, including sourcing 50% of energy from renewable sources by FY25.
Medtronic (NYSE: MDT) has received FDA clearance for its new InPen™ app with missed meal dose detection, enabling the launch of its Smart MDI system with Simplera™ CGM. The system combines a smart insulin pen with a new disposable CGM that's 50% smaller than previous versions. This marks the first system to provide real-time, personalized recommendations for missed or inaccurate insulin doses. The technology addresses a critical need, as patients typically miss 1 in 3 insulin doses. The company plans a phased rollout, starting with existing CGM and InPen™ customers before a broader commercial launch.
Medtronic (MDT) reported strong Q2 FY25 results with revenue of $8.4 billion, up 5.3% as reported and 5.0% organic. GAAP EPS was $0.99, while non-GAAP EPS reached $1.26. The company raised its FY25 guidance, now expecting organic revenue growth of 4.75-5% and non-GAAP EPS of $5.44-$5.50.
Growth was driven by innovation across key franchises including TAVR, PFA, Leadless Pacemakers, Diabetes, Spine, and Neuromodulation. The Cardiovascular portfolio grew 6.1%, Neuroscience increased 7.1%, Medical Surgical rose 1.2%, and Diabetes jumped 12.4%. Strong performance in international markets and continued adoption of new products contributed to the positive results.
Medtronic (NYSE:MDT) has announced it will release its second quarter fiscal year 2025 financial results on Tuesday, November 19, 2024, at approximately 5:45 a.m. CST. The company will host a video webcast at 7:00 a.m. CST to discuss the results. The fiscal quarter ended on October 25, 2024. Future earnings releases are scheduled for February 18, 2025 (Q3) and May 21, 2025 (Q4). Medtronic, headquartered in Galway, Ireland, operates across 150+ countries with 95,000+ employees, providing technologies and therapies that treat 70 health conditions.
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