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 Summary

Medtronic's board has approved a cash dividend of $0.68 per share for Q2 of fiscal year 2023, marking an 8% increase from the previous year. This dividend continues Medtronic's history as a member of the S&P 500 Dividend Aristocrats, having increased its dividend for 45 consecutive years. The dividend is set to be paid on October 14, 2022, to shareholders on record by September 23, 2022.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.25%
Tags
dividends earnings
-
Rhea-AI Summary

Medtronic plc (NYSE:MDT) will announce its financial results for the first quarter of fiscal year 2023 on August 23, 2022. The results will cover the period ending July 29, 2022, with a press release scheduled for 5:45 a.m. CDT. A video webcast discussing these results will follow at 7:00 a.m. CDT the same day. Future earnings reports are planned for November 22, 2022, February 21, 2023, and May 25, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.15%
Tags
-
Rhea-AI Summary

Medtronic (NYSE:MDT) announces the expansion of its Health Equity Assistance Program for colon cancer screening, increasing the number of GI Genius™ units from 50 to 133 for underserved communities. The program aims to enhance screening access, starting with Grady Memorial Hospital in Atlanta, which serves a predominantly Black population. With a significant cancer burden in this community, the initiative hopes to improve early detection rates through advanced technology, further supported by Amazon Web Services.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.84%
Tags
none
Rhea-AI Summary

Medtronic has secured FDA 510(k) clearance for its UNiD™ Spine Analyzer v4.0, which introduces a new Degen Algorithm for degenerative spine procedures. This innovative tool utilizes machine learning to aid surgeons in planning and personalizing surgeries, predicting post-operative spinal alignment six months post-surgery. The platform also features enhancements for both pediatric and adult deformity algorithms. Medtronic is the first to offer FDA-cleared predictive models for spine surgery, aiming to improve surgical outcomes significantly.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.46%
Tags
none
-
Rhea-AI Summary

On July 12, 2022, Medtronic (NYSE:MDT) announced a strategic partnership with CathWorks, investing up to $75 million to co-promote the FFRangio® System in the U.S., Europe, and Japan. This non-invasive system utilizes artificial intelligence to enhance the diagnosis of coronary artery disease (CAD). Medtronic also has the option to acquire CathWorks for up to $585 million by July 2027. The partnership aims to revolutionize CAD management, with strong clinical evidence supporting FFRangio's 93% diagnostic accuracy.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.29%
Tags
-
Rhea-AI Summary

Medtronic (NYSE: MDT) has appointed Lidia Fonseca as an independent director on its Board of Directors effective June 27, 2022. Fonseca, currently with Pfizer, brings over 30 years of experience in healthcare innovation, focusing on digital strategy and technology solutions. She will serve on the Compensation and Science and Technology Committees. Medtronic’s CEO, Geoff Martha, expressed enthusiasm, noting her expertise in digital healthcare solutions as crucial for the company’s ambition to lead in healthcare technology.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.28%
Tags
management
Rhea-AI Summary

GE Healthcare and Medtronic announced the FDA 510(k) clearance and CE Mark approval for integrating their advanced Microstream™ capnography and INVOS™ regional oximetry technologies into the CARESCAPE precision monitoring platform. This collaboration aims to enhance patient outcomes by providing real-time, continuous monitoring, which helps in predicting and preventing perioperative complications. The integration supports improved clinical efficiency, safety, and quality of care, ultimately aiding clinicians in delivering personalized patient care.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.98%
Tags
partnership
-
Rhea-AI Summary

Medtronic plc (NYSE:MDT) will participate in the Goldman Sachs Global Healthcare Conference on June 14, 2022. The session will be led by Geoff Martha, Medtronic's CEO, starting at 8:00 a.m. PDT. A live webcast will be accessible from the investor relations section of their website. Medtronic is a leader in healthcare technology, focusing on addressing critical health challenges globally. The company aims to alleviate pain, restore health, and extend life through innovative solutions, employing over 90,000 people worldwide.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
conferences
-
Rhea-AI Summary

Medtronic plc (NYSE: MDT) reported a 5% revenue growth for FY22, totaling $31.686 billion, with significant increases in GAAP diluted EPS of 40% to $3.73. Q4 revenue was $8.1 billion, down 1% due to supply chain issues and China’s COVID-19 lockdowns. Non-GAAP diluted EPS rose by 26% to $5.55. The company increased its quarterly dividend by 8% to $0.68 per share, marking 45 consecutive years of dividend growth. For FY23, Medtronic expects organic revenue growth of 4-5% and non-GAAP EPS between $5.53 and $5.65. Recent strategic partnerships aim to enhance product offerings in emerging markets.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.78%
Tags
dividends earnings
Rhea-AI Summary

Medtronic and DaVita are launching a new independent company focused on kidney care technology to enhance treatment experiences and patient outcomes. This collaboration aims to leverage Medtronic's healthcare technology skills and DaVita's expertise in kidney care to develop innovative products, including home-based dialysis solutions. Each company will hold equal stakes in the new entity, which will be governed by an independent management team. The transaction is expected to close within a year, pending regulatory approvals.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.12%
Tags
none

FAQ

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

The current stock price of Medtronic plc (MDT) is $90.07 as of November 1, 2024.

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

The market cap of Medtronic plc (MDT) is approximately 115.5B.

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

115.47B
1.31B
0.26%
85.91%
0.84%
Medical Devices
Electromedical & Electrotherapeutic Apparatus
Link
United States of America
DUBLIN