Welcome to our dedicated page for Medtronic news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic stock.
Medtronic plc (MDT) is a global leader in medical technology, developing innovative healthcare solutions that address chronic diseases and complex conditions. This dedicated news hub provides investors and professionals with timely updates on the company's strategic initiatives, regulatory milestones, and technological breakthroughs.
Access authoritative information spanning earnings announcements, product approvals, partnership developments, and clinical trial outcomes. Our curated collection ensures you stay informed about MDT's advancements in cardiac care, neuromodulation, diabetes management, and surgical robotics.
Discover press releases detailing regulatory submissions, executive appointments, and global market expansions. Each update is verified for accuracy, offering insights into how Medtronic maintains its position at the forefront of medical innovation while navigating evolving healthcare landscapes.
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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.
Medtronic launched the Extended infusion set in the U.S., the first infusion set allowing up to 7-day wear for insulin pumps, reducing insulin waste and plastic usage. This innovation leads to annual cost savings of up to 25% on insulin and a 50% reduction in plastic waste. The extended wear time decreases the frequency of set changes by 50% and enhances comfort, addressing patient needs. The set is available for MiniMed 600 and 700 series pump users, aiming to ease diabetes management.
Ra Medical Systems (RMED) reported financial results for Q3 2022, highlighting a merger plan with Catheter Precision. This stock-for-stock reverse-merger aims to tap into the growing cardiac electrophysiology market. Company CEO Will McGuire cited $13.7 million in cash and an additional $7.4 million raised through their At-the-Market facility. They aim to meet NYSE listing requirements post-reverse stock split, with expectations to finalize the merger by early 2023. Catheter’s FDA-cleared product, VIVO™, targets ventricular arrhythmias, a significant unmet need in cardiac care.
Cloud DX (CDXFF) has partnered with Medtronic (MDT) and other organizations to develop a Continuous Connected Patient Care (CCPC) platform aimed at enhancing home care for discharged patients. The project, with a total investment of $12.8 million and $5.2 million in funding from the Digital Supercluster, is set to launch in 2024. The initiative includes a new vital sign monitoring device and aims to alleviate hospital capacity issues by allowing remote patient monitoring, particularly for those with chronic conditions.
