Medtronic plc - MDT STOCK NEWS

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.

Medtronic's Inceptiv™, a closed-loop spinal cord stimulator for chronic pain treatment, received FDA approval in April. This breakthrough technology, developed by engineer David Dinsmoor, can sense unique biological signals and adjust stimulation 50 times per second. Dinsmoor's journey began with studying electrical impulses in nightcrawlers, leading to the development of a circuit that could measure evoked compound action potentials (ECAPs) in patients. This innovation allows for real-time adjustment of stimulation based on patient movements, addressing the issue of overstimulation in traditional spinal cord stimulators. Inceptiv™ builds on Medtronic's 40-year leadership in neuromodulation, offering more consistent therapy for chronic pain patients.

Medtronic (MDT), a global healthcare technology leader, partnered with Jack and Jill of America, Inc., a nonprofit focused on nurturing future African American leaders, to provide hands-on healthcare technology experiences to over 150 teens at Jack and Jill's national convention. The event featured the Medtronic Mobile Lab, a truck designed to mirror an operating room, where students had the opportunity to use surgical tools. This initiative aims to expose young people to potential careers in healthcare technology and foster interest in the field.