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 (NYSE: MDT) has issued a voluntary recall for its MiniMed™ 600 and 700 series insulin pumps due to potential risks of shortened battery life. The recall, initiated on July 31, 2024, urges users to monitor built-in alerts and alarms for battery status and contact Medtronic for replacements if battery life issues are observed. The issue stems from internal electrical component damage caused by drops or impacts, leading to premature battery depletion. This can result in the pump stopping insulin delivery earlier than expected, posing health risks like hyperglycemia or diabetic ketoacidosis (DKA). From January 2023 to September 2024, there were 170 reports of hyperglycemia and 11 reports of DKA in the U.S. related to this issue. The FDA has classified this recall as a class I recall. Medtronic advises users to carry extra batteries and contact support if they notice significant battery life reduction.
Medtronic plc (NYSE: MDT) announced new clinical data for its PulseSelect™ Pulsed Field Ablation (PFA) System in treating atrial fibrillation (Afib). The study, presented at the Asia Pacific Heart Rhythm Society (APHRS) meeting, showed high rates of durable lesion formation:
- 98% of pulmonary veins remained isolated
- 96% of patients had all veins isolated
These results were observed approximately two months post-ablation. Dr. Devi Nair, Director of Cardiac Electrophysiology & Research at St. Bernard's Medical Center, emphasized the importance of this real-world evidence for the electrophysiology community as PFA use increases rapidly. The data adds to previous evidence establishing the safety and effectiveness of the PulseSelect technology.
Medtronic plc (NYSE: MDT) announced new advancements in its AiBLE™ spine surgery ecosystem at the North American Spine Society Annual Meeting. The company introduced several innovations:
1. O-arm™ 4.3 software with advanced navigation volumes, dose reduction, and enhanced image confirmation.
2. UNiD™ Adaptive Spine Intelligence now includes MRI Vision for automated lumbar MRI analysis.
3. Mazor™ robotic guidance system with 5.1 software, introducing Maximum Intensity Projection.
4. ModuLeX™ Spinal System, the next generation of the CD Horizon™ product family.
Medtronic also announced a partnership with Siemens Healthineers to integrate the Multitom Rax™ imaging system into the AiBLE™ ecosystem, aiming to advance clinical outcomes in spine surgery.
Medtronic plc (NYSE:MDT), a global healthcare technology leader, announced its participation in the 2024 Wells Fargo Healthcare Conference on September 4, 2024. Geoff Martha, Medtronic's chairman and CEO, will engage in a Q&A session about the medtech industry and the company at 11:55 a.m. EDT. A live webcast will be available on Medtronic's investor relations website, with an archive accessible later that day.
Headquartered in Galway, Ireland, Medtronic is at the forefront of addressing global health challenges. With a workforce of 95,000+ across 150+ countries, the company develops technologies and therapies for 70 health conditions, including cardiac devices, surgical robotics, and patient monitoring systems. Medtronic's mission is to alleviate pain, restore health, and extend life, delivering innovative solutions that transform lives every second.
PaceMate®, a leader in cardiac data management and remote monitoring, has acquired Medtronic's Paceart Optima™ system, an on-premises cardiac workflow solution. This strategic move expands PaceMate's global reach by adding nearly 1,000 clinic locations worldwide. The acquisition enhances PaceMate's position as the preferred partner in advanced cardiac data management, offering a comprehensive end-to-end platform supporting various cardiac device types.
Key points:
- Medtronic (NYSE: MDT) and PaceMate will collaborate for a seamless transition
- Paceart employees will transition to PaceMate, ensuring continued support
- PaceMate's flagship product, PaceMateLIVE™, is recognized as best-in-class remote cardiac monitoring software
- The acquisition aims to set new standards in cardiac care and enable better patient outcomes and global innovation
Medtronic is addressing technology bias in pulse oximeters, which may not accurately measure oxygen levels across all skin tones. The company has taken steps to improve device accuracy, including:
1. Participating in an FDA panel on pulse oximeter accuracy
2. Opening a physiology lab in a diverse Denver neighborhood for inclusive clinical trials
3. Conducting its own clinical trials to innovate quickly
Medtronic's Nellcor pulse oximeter missed 7.9% of hypoxemic events in a recent study, compared to 30% for a competitor's device. The company aims to reduce this to zero, regardless of skin type or perfusion. The new lab has enrolled over 130 diverse participants, focusing on equity in healthcare technology.
Medtronic (NYSE: MDT) reported its Q1 FY25 financial results, ending July 26, 2024. Revenue was $7.9 billion, with an adjusted revenue of $8.0 billion, up 2.8% as reported and 5.3% organically. GAAP diluted EPS increased to $0.80, while non-GAAP diluted EPS rose to $1.23. The company raised its FY25 organic revenue growth guidance to 4.5%-5% and EPS guidance to $5.42-$5.50.
Key growth drivers included the MiniMed™ 780G automated insulin delivery system for Diabetes, and the Percept™ RC deep brain stimulator for Neuromodulation. Cardiovascular revenue grew by 5.5% as reported and 6.9% organically. Neuroscience revenue increased by 4.4% as reported and 5.3% organically.
Despite strong performance, foreign currency translation had a negative impact of $90 million on revenue and reduced non-GAAP diluted EPS by 6 cents. Medtronic executives are optimistic about sustained growth driven by new product innovations.
Medtronic plc (NYSE:MDT), a leading global healthcare technology company, has announced its cash dividend for the second quarter of fiscal year 2025. The board of directors approved a dividend of $0.70 per ordinary share, consistent with the increase announced in May 2024. This decision reinforces Medtronic's status as an S&P 500 Dividend Aristocrat, having increased its annual dividend for 47 consecutive years.
The dividend is payable on October 11, 2024, to shareholders of record as of September 27, 2024. Medtronic, headquartered in Galway, Ireland, employs over 95,000 people across 150+ countries and focuses on addressing challenging health problems through innovative technologies and therapies.
Medtronic plc (NYSE:MDT), a global healthcare technology leader, has announced it will report its first quarter fiscal year 2025 financial results on Tuesday, August 20, 2024. The company will release a news release at approximately 5:45 a.m. CDT, followed by a video webcast at 7:00 a.m. CDT to discuss the results. The fiscal quarter ended on July 26, 2024.
Medtronic has also outlined plans to report its subsequent quarterly results for fiscal year 2025 on November 19, 2024, February 18, 2025, and May 21, 2025. The company, headquartered in Galway, Ireland, employs over 95,000 people across more than 150 countries and focuses on addressing challenging health problems through innovative technologies and therapies.
Medtronic plc (NYSE: MDT) has received FDA approval for its Simplera™ continuous glucose monitor (CGM), a disposable, all-in-one device half the size of previous Medtronic CGMs. The Simplera™ platform includes the Simplera™ CGM for Smart MDI systems and the Simplera Sync™ sensor for integration with the MiniMed™ 780G system. Both are already CE Marked in Europe.
Additionally, Medtronic announced a global partnership with Abbott to expand CGM options. Abbott will supply Medtronic with an exclusive CGM based on their advanced platform, to be integrated with Medtronic's smart dosing devices and software. This collaboration aims to offer more choice within the Medtronic ecosystem, combining Abbott's CGM technology with Medtronic's advanced insulin delivery systems.
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