STOCK TITAN

Medtronic plc - MDT STOCK NEWS

Welcome to our dedicated page for Medtronic plc news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic plc stock.

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.3%
Tags
-
Rhea-AI Summary

Medtronic plc (NYSE:MDT) has resolved a warning letter from the FDA regarding its Diabetes headquarters in Northridge, California, which was received in December 2021. The FDA's decision comes shortly after the agency approved the MiniMed™ 780G system, the first automated insulin delivery system with real-time meal detection technology. The new system adjusts glucose levels automatically every five minutes, addressing significant needs in diabetes management. Medtronic expresses gratitude for the collaborative efforts with the FDA, which enable the company to focus on delivering innovative solutions for diabetes patients. This resolution marks a crucial step for Medtronic's Diabetes division, ensuring adherence to quality standards and paving the way for future advancements.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.31%
Tags
none
-
Rhea-AI Summary

Medtronic plc (NYSE: MDT) announced FDA approval for its MiniMed™ 780G system with Guardian™ 4 sensor, the first insulin pump featuring meal detection technology. This device delivers automatic adjustments to insulin every 5 minutes, addressing challenges faced by individuals with type 1 diabetes during mealtimes. It offers the lowest glucose target setting of any automated insulin pump, enhancing user experience with 94% of users expressing satisfaction. Clinical trials indicate users achieved a 75% Time in Range for blood sugar levels. Pre-orders will begin on May 15, 2023, and existing MiniMed™ 770G customers can upgrade at no cost.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.62%
Tags
Rhea-AI Summary

Medtronic highlights its partnership with Springfield Spring and Stamping, a certified minority-owned business, emphasizing the importance of supplier diversity. This collaboration is a crucial component of Springfield's growth, enabling it to invest in advanced manufacturing technologies. The partnership not only benefits Springfield's business but also contributes to creating well-paying jobs and strengthening the local community. Springfield Spring's owner, Norman Rodrigues, noted that Medtronic's support has been foundational for their company's success, fostering sustainable wealth and economic security for employees. This initiative reflects Medtronic's commitment to community impact and economic development through responsible sourcing.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.23%
Tags
none
-
Rhea-AI Summary

Medtronic LABS is expanding its scope to address comprehensive community health needs rather than focusing solely on specific diseases. Acknowledging that over 5 billion people lack access to healthcare, the organization aims to enhance healthcare delivery across various conditions including hypertension, diabetes, mental health, and more.

With its technology platform SPICE, LABS has reached over 1 million patients and trained more than 6,500 health workers globally. The initiative is set to grow further with new partnerships, potentially amplifying its impact 10 times over the next few years.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
News
Rhea-AI Summary

Volunteer Appreciation Month is celebrated every April, recognizing the impact of volunteers and encouraging ongoing volunteerism. The Medtronic Foundation supports communities through resources that enhance volunteer efforts. Marcus Reid, a 30-year Medtronic employee, initiated a grassroots project to teach young probationers their strengths through skills-based volunteering. This initiative has gained traction, with the District Attorney's office requesting training for their staff. Reid's program helps individuals like James, a 20-year-old probationer, to develop self-esteem and explore educational opportunities. The Medtronic Foundation also offers volunteer grants and matching programs to further encourage employee involvement in community support.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.04%
Tags
none
Rhea-AI Summary

Medtronic and DaVita have launched Mozarc Medical, an independent kidney health technology company aimed at enhancing patient care. Announced on April 1, 2023, Mozarc Medical will leverage expertise from Medtronic's former Renal Care Solutions unit and DaVita's leadership to innovate in kidney health technologies. CEO Ven Manda emphasized the need for patient-centered solutions, particularly as demand for in-home kidney care rises. Both companies hold equal equity stakes in Mozarc Medical, which had combined revenues of $64 million, $63 million, and $70 million in the first three quarters of Medtronic's fiscal year 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Medtronic's CFO, Karen Parkhill, highlighted significant strides in gender representation and pay equity within the company during her tenure. By 2022, women constituted 51% of the workforce, with 43% in management and 36% on the board. Parkhill is dedicated to elevating women's roles in the medical device industry and supports Medtronic's international pay equity efforts, achieving 100% gender pay equity in the U.S. and 99% globally. Her experience spans major financial institutions, with a focus on transforming the finance function at Medtronic to enhance patient care. Parkhill's commitment to inclusion and diversity aims to reshape corporate culture for future growth.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.34%
Tags
none
-
Rhea-AI Summary

Medtronic plc (NYSE: MDT) announced the pricing of a $2 billion offering of senior notes through its subsidiary Medtronic Global Holdings S.C.A. The offering consists of $1 billion of 4.25% senior notes due in 2028 and $1 billion of 4.50% senior notes due in 2033. Proceeds from the offering will primarily be used to repay existing debt, including a portion of Medtronic Luxco's yen-denominated term loan, alongside general corporate purposes. The offering is expected to close on March 30, 2023, subject to standard conditions, and is managed by Barclays Capital Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.32%
Tags
none
Rhea-AI Summary

Medtronic highlights the journey of Mira Sahney, president of the company's Pelvic Health business, emphasizing her dedication to enhancing health care access and supporting women in STEM fields.

Sahney's background includes engineering roles in military aircraft, CEO of a startup, and co-founder of a neuro-robotics firm. She aims to mainstream the company’s InterStim therapy for bladder and bowel control, which affects millions yet remains stigmatized.

The Pelvic Health Operating Unit recently initiated a study on a new implantable tibial neuromodulation therapy, potentially lowering care costs and improving patient access.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.59%
Tags
none

FAQ

What is the current stock price of Medtronic plc (MDT)?

The current stock price of Medtronic plc (MDT) is $81.54 as of December 24, 2024.

What is the market cap of Medtronic plc (MDT)?

The market cap of Medtronic plc (MDT) is approximately 104.6B.

What does Medtronic plc specialize in?

Medtronic specializes in developing and manufacturing therapeutic medical devices for chronic diseases, including pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools.

Where are Medtronic’s headquarters located?

Medtronic’s operational and executive headquarters are in Minneapolis, Minnesota, while its legal headquarters are in Dublin, Ireland, following its acquisition of Covidien in 2015.

How significant are Medtronic’s international sales?

International sales account for roughly 50% of Medtronic’s total revenue.

What recent advancements has Medtronic made in AI for healthcare?

Medtronic recently launched the ColonPRO™ software for the GI Genius™ intelligent endoscopy system, enhancing AI-driven polyp detection and procedural highlights. The company also partnered with Modernizing Medicine® to integrate AI data with EHR systems.

What are Medtronic’s recent financial achievements?

Medtronic reported a global revenue of $32.364 billion for fiscal year 2024, a 3.6% increase from the previous year, driven by growth in its Cardiovascular, Neuroscience, Medical Surgical, and Diabetes portfolios.

What new technology has Medtronic introduced for chronic pain treatment?

Medtronic introduced the Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS), which the U.S. FDA approved for the treatment of chronic pain.

How many employees does Medtronic have worldwide?

Medtronic has a global team of over 95,000 employees across 150 countries.

What is Medtronic’s mission?

Medtronic's mission is to alleviate pain, restore health, and extend life.

Where can I find more information about Medtronic?

For more information about Medtronic, visit their official website at Medtronic.com.

How does Medtronic approach innovation in healthcare?

Medtronic leverages its diverse knowledge, insatiable curiosity, and commitment to helping those in need to deliver innovative technologies that transform lives, focusing on engineering extraordinary healthcare solutions.

Medtronic plc

NYSE:MDT

MDT Rankings

MDT Stock Data

104.56B
1.28B
0.26%
85.42%
0.79%
Medical Devices
Electromedical & Electrotherapeutic Apparatus
Link
United States of America
GALWAY