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 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.
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.
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.
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.
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.
Medtronic and DaVita have announced a partnership to create a new independent kidney care-focused medical device company, NewCo. This joint venture aims to enhance kidney treatment and patient outcomes by leveraging Medtronic's healthcare technology and DaVita's expertise in kidney care. NewCo will develop innovative therapies and products, especially for home-based dialysis treatments, serving over three million kidney failure patients globally. Each company will have equal ownership and contribute financially to support NewCo's initial operations.
Medtronic plc (NYSE:MDT) will report its financial results for Q4 and full FY 2022 on May 26, 2022, at 5:45 a.m. CDT. This will include summary financial data for the fiscal year ending on April 29, 2022. A video webcast discussing the results will take place at 7:00 a.m. CDT the same day. Future earnings reports for FY 2023 are scheduled for August 23, November 22, February 21, and May 25, 2023. More details will be provided closer to each earnings date.
Medtronic (NYSE: MDT) announced significant findings from the SPYRAL HTN Global Clinical Program, presented on May 17, 2022, at EuroPCR 2022. The data from the SPYRAL HTN-ON MED and GSR-DEFINE trials demonstrate that the Symplicity Spyral Renal Denervation (RDN) system improves blood pressure control, significantly increasing 'time in target range' (TTR) for patients. The SPYRAL HTN-ON MED trial showed a TTR of 33.7% for RDN patients versus 18.8% for sham, while GSR-DEFINE associated higher TTR with a reduced risk of major cardiovascular events. This highlights RDN as a vital tool in managing hypertension.
Medtronic has received FDA approval for the Onyx Frontier™ drug-eluting stent, an advancement in coronary artery disease treatment. This device enhances deliverability by 16% compared to its predecessor, the Resolute Onyx™ stent, and is designed for complex cases. It features a broad size range, with options for large vessels, and supports patients needing short dual antiplatelet therapy durations. This approval marks a significant milestone in Medtronic's commitment to provide innovative solutions for interventional cardiologists and improve patient outcomes.
Medtronic plc (NYSE: MDT) has successfully completed its acquisition of Intersect ENT, enhancing its ENT portfolio with innovative sinus implants aimed at improving post-operative outcomes and treating nasal polyps. The acquisition, announced on May 13, 2022, includes the PROPEL™ and SINUVA™ product lines, designed to address chronic rhinosinusitis affecting approximately 30 million adults in the U.S. annually. This strategic move is expected to increase Medtronic's market presence and innovation capabilities in the ENT field.
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