Medtronic plc - MDT STOCK NEWS

Ra Medical Systems has completed a stock-for-stock merger with Catheter Precision, aimed at enhancing its cardiac electrophysiology market presence. David Jenkins, CEO of Catheter Precision, will serve as Executive Chairman. The transaction includes a conversion of $25 million in debt to non-voting Convertible Preferred Stock, granting Catheter Precision stakeholders approximately 87.7% of RMED’s equity. Ra Medical anticipates raising up to $9.3 million in equity financing, reinforcing its financial position with an estimated $12.5 million in net cash for two years of operating capital.

Medtronic plc (NYSE:MDT) will participate in the 41st annual J.P. Morgan healthcare conference on January 9, 2023. CEO Geoff Martha is scheduled to present at 9:00 a.m. PST (11:00 a.m. CST). Following the presentation, key executives including CFO Karen Parkhill will engage in a Q&A session. A live webcast of the event will be available on the company’s investor relations site, with an archive accessible later that day. Medtronic continues to lead in healthcare technology, addressing over 70 health conditions globally.

Medtronic has announced the enrollment of the first patient in the Expand URO clinical trial, a study evaluating the safety and performance of the Hugo™ robotic-assisted surgery (RAS) system for urologic procedures. Conducted at Duke University Hospital, this multi-center trial aims to enroll up to 122 patients across six U.S. sites. The Hugo RAS system is intended for various urologic surgical procedures, promising benefits like fewer complications and quicker recovery times. This trial is conducted under an Investigational Device Exemption from the FDA.

Medtronic plc (NYSE:MDT) announced an 8% increase in its fiscal year 2023 third quarter cash dividend, now at $0.68 per ordinary share. This dividend, payable on January 13, 2023, to shareholders of record by December 21, 2022, maintains the company's commitment to returning value to shareholders. Medtronic has a long history as a member of the S&P 500 Dividend Aristocrats index, having increased its annual dividend for 45 consecutive years. The announcement aligns with the company's earlier plans communicated in May 2022.

Medtronic (NYSE:MDT) announced the completion of enrollment in the SPHERE Per-AF Trial, evaluating the Sphere-9 cardiac ablation catheter with the Affera mapping system for persistent atrial fibrillation. This pivotal trial, pivotal for FDA approval, included 477 patients across 23 centers in the U.S. and Europe. The Sphere-9 catheter uniquely offers both radiofrequency and pulsed field ablation in one device. Results will be assessed over 12 months. The trial follows Medtronic's acquisition of Affera in August 2022, enhancing its cardiac solutions portfolio.

Medtronic plc (NYSE:MDT) will participate in the Evercore ISI 5th annual HealthCONx conference on November 29, 2022. Geoff Martha, CEO, and Karen Parkhill, CFO, will address questions starting at 5:10 p.m. EST. A live webcast will be accessible via the Investor Events link at Medtronic's Investor Relations, with an archived session available later. Medtronic is a leader in healthcare technology, committed to addressing complex health issues globally.

Medtronic reported its fiscal Q2 2023 results with revenues of $7.6 billion, a 3% decline and a 2% organic growth. GAAP EPS stood at $0.32, down 67%, while non-GAAP EPS was $1.30, down 2%. Key drivers included TAVR, Pacing, and International Diabetes, despite challenges from slower market procedure volumes and cost inflation. Guidance was updated to forecast a revenue growth of 3.5%-4% in the second half of the fiscal year, with expected non-GAAP EPS between $5.25 to $5.30.

Medtronic plc (NYSE:MDT) will report its financial results for Q2 FY2023 on November 22, 2022, with a news release at 5:45 a.m. CST. The report will provide summary financial information for the quarter ending October 28, 2022. A video webcast discussing the results will be held at 7:00 a.m. CST on the same day. Future earnings announcements are scheduled for February 21, 2023, and May 25, 2023. The company emphasizes its commitment to innovative healthcare solutions, addressing various health conditions globally.