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.
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
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.
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