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.
Medtronic plc (NYSE:MDT) announced a live webcast on November 7, 2022, at 5 p.m. CST, to discuss updates on its Coronary and Renal Denervation business during AHA 2022. The webcast will feature management remarks and present the 6-month results from the SPYRAL HTN-ON MED Randomized Trial. The ON MED data will be presented earlier that day, starting at 3:38 p.m. CST. A press release detailing the ON MED results will also be issued on the same date. A replay of the webcast will be available within 24 hours on Medtronic's investor relations page.
Medtronic plc announced the release of its Fiscal Year 2022 Integrated Performance Report, emphasizing progress in health equity, workforce diversity, and environmental sustainability. Key highlights include:
- Investment of over $69 million for healthcare training, reaching 350,000 medical professionals.
- $2.7 billion invested in R&D.
- Reduction of greenhouse gas emissions intensity by 35%.
The report reflects Medtronic's commitment to its mission of improving health outcomes globally.
Medtronic plc (NYSE: MDT) announced the successful closing of a public offering totaling €3.5 billion in Senior Notes. This includes €500 million of 2.625% Notes due 2025, €1 billion of 3.000% Notes due 2028, €1 billion of 3.125% Notes due 2031, and €1 billion of 3.375% Notes due 2034. The net proceeds, approximately €3.47 billion, will be used to repay maturing senior notes and for general corporate purposes. The offering was managed by leading financial institutions, and all notes are guaranteed by Medtronic plc.
Ra Medical Systems, Inc. (RMED) announced the approval of three proposals at its Special Meeting of Stockholders held on September 20, 2022, including a crucial 1-for-50 reverse stock split. This measure is intended to maintain compliance with NYSE American listing standards, following a notice regarding low stock prices. Additionally, the Company plans to merge with Catheter Precision, which focuses on cardiac electrophysiology technology. The merger is anticipated to close by the end of 2022, pending shareholder approval and other conditions.
Medtronic plc (NYSE:MDT) has received FDA clearance for the LINQ II Insertable Cardiac Monitor (ICM), marking it the first and only device cleared for long-term monitoring in pediatric patients over the age of 2 with heart rhythm abnormalities. This innovation is significant for pediatric cardiologists, offering critical data for diagnosing and managing heart conditions.
The LINQ II ICM is compact, wireless, and features a battery life of up to 4.5 years. It incorporates AccuRhythm AI algorithms, reducing false alerts significantly while ensuring accurate monitoring.
Medtronic announced long-term results from the SYMPLICITY HTN-3 clinical trial at the TCT conference, showing significant reductions in blood pressure for patients undergoing renal denervation. Over three years, RDN patients experienced a 26.4 mm Hg reduction in office systolic blood pressure, compared to 5.7 mm Hg for the sham control group. The trial included 535 patients, with no long-term complications reported. These findings contribute to the growing evidence supporting the safety and efficacy of the Symplicity blood pressure procedure, which is approved for use in over 60 countries, though still investigational in the U.S.
Medtronic plc (NYSE:MDT) announced the pricing of €4.5 billion in senior notes by its subsidiary, Medtronic Luxco. This includes €500 million of 2.625% notes due 2025, €1 billion of 3.000% notes due 2028, €1 billion of 3.125% notes due 2031, and €1 billion of 3.375% notes due 2034. The proceeds will be used to repay existing notes and for general corporate purposes. The offering is set to close on September 21, 2022, pending customary conditions, with Barclays, BofA, Citigroup, and HSBC acting as joint book-running managers.
Ra Medical Systems (RMED) has announced a merger with Catheter Precision, a medical device company focusing on cardiac electrophysiology. This stock-for-stock reverse merger will result in Catheter Precision becoming a wholly owned subsidiary of Ra Medical. Catheter Precision's lead product, VIVO™, aims to improve treatment for ventricular arrhythmias, a significant market opportunity. The merger is expected to close by the end of 2022, pending shareholder approval. Post-merger, Catheter Precision stakeholders are projected to own 80% of the combined entity, enhancing growth potential in the cardiac market.
Medtronic plc (NYSE:MDT) announced its participation in several September 2022 investor conferences, enhancing its commitment to engage with investors and stakeholders. Key events include the Wells Fargo 2022 Healthcare Conference on September 7, featuring CFO Karen Parkhill; the Morgan Stanley 20th Annual Global Healthcare Conference on September 12 with CEO Geoff Martha; and the Bank of America Global Healthcare Conference on September 15, led by Rob ten Hoedt. Live webcasts of these sessions will be accessible on the company’s investor relations website.
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