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 partnered with the American Society for Gastrointestinal Endoscopy (ASGE) to enhance colorectal cancer screening in low-income communities through the Health Equity Assistance Program. The initiative will donate 50 GI Genius™ intelligent endoscopy modules to endoscopy centers, potentially benefiting over 350,000 patients over three years. Colorectal cancer, a major health concern, can have a 91% five-year survival rate if detected early. This program aims to address significant disparities in screening access.
Medtronic plc (NYSE: MDT) reported Q3 fiscal 2022 results with revenue of $7.763 billion, flat year-over-year but up 2% organically. GAAP diluted EPS rose 17% to $1.10, while non-GAAP diluted EPS increased 6% to $1.37. The U.S. revenue was $3.939 billion (51% of total), remaining flat, while international revenue saw mixed results: down 3% in developed markets but up 5% in emerging markets. The company anticipates Q4 organic revenue growth of 5.5% and EPS guidance between $1.56 to $1.58, reflecting ongoing recovery from COVID-19 impacts.
Medtronic (NYSE:MDT) announced FDA approval for its Freezor™ and Freezor™ Xtra Cardiac Cryoablation Catheters, the first devices approved to treat pediatric Atrioventricular Nodal Reentrant Tachycardia (AVNRT), a common and life-threatening heart rhythm disorder affecting 89,000 individuals annually, with 35% being children. These catheters, utilized in catheter ablation therapy, boast a 95% procedural success rate without permanent pacemaker requirements. Medtronic has successfully treated over 140,000 patients globally with its cryoablation technology, demonstrating its efficacy and safety.
Medtronic (NYSE:MDT) will report its financial results for Q3 FY2022 on February 22, 2022, at 5:45 a.m. CST. A video webcast will follow at 7:00 a.m. CST to discuss these results. The financial results will cover the quarter ending January 28, 2022. Looking ahead, Medtronic plans to announce its Q4 and full FY2022 results on May 26, 2022, and provide future earnings report dates for FY2023 later.
Medtronic plc (NYSE:MDT) and OLV Hospital Aalst announced the first clinical procedure in Europe using the Hugo™ robotic-assisted surgery (RAS) system, performed by Dr. Alexandre Mottrie. This significant milestone showcases advances in minimally invasive surgery, which offers benefits like fewer complications and shorter recovery times. The Hugo RAS system aims to enhance accessibility to surgical robotics. As a part of its global rollout, Medtronic plans to collect clinical data from procedures in Europe, further supporting future regulatory submissions.
Medtronic (NYSE:MDT) has received FDA approval for its Intellis™ rechargeable neurostimulator and Vanta™ recharge-free neurostimulator, targeting chronic pain from diabetic peripheral neuropathy (DPN). DPN affects around 30% of diabetes patients, often leading to significant pain and diminished quality of life. This new therapy offers personalized treatment options and has shown a 70% pain relief rate in patients, compared to 6% for conventional treatments. With an estimated 800,000 potential U.S. candidates, Medtronic sees a $1.8 billion market opportunity for this new indication.
Medtronic plc (NYSE: MDT) announced positive results from a three-month study of its DTM SCS endurance therapy for chronic pain. The therapy showed a 3.9 cm reduction in overall pain, with patients experiencing a 4.3 cm decrease in back pain and a 5.0 cm drop in leg pain. 69% of patients reported less disability, and 75% expressed satisfaction with the treatment. The therapy enhances device longevity, offering 5.5-7.5 years on the Vanta™ stimulator and rapid recharge options on Intellis™. These findings underscore the therapy's effectiveness and potential for improving quality of life.
Medtronic (NYSE:MDT) announced its participation at the 25th Annual North American Neuromodulation Society meeting from January 13-15, 2022, in Orlando, Florida. The company will present 23 podium and poster presentations, showcasing advancements in DTM™ SCS endurance therapy for chronic pain. Key presentations include studies on energy demands and therapeutic comparisons with traditional spinal cord stimulation. Medtronic aims to highlight innovative technologies and enhance patient care through detailed scientific discussions and evidence from sponsored research.
Medtronic plc (NYSE:MDT) announced on Jan. 10, 2022, that it received approval from Japan's Ministry of Health for the sale and reimbursement of its Micra™ AV Transcatheter Pacing System. This approval allows for the treatment of patients with AV block, expanding the patient base significantly in one of the world's largest markets. The Micra AV offers leadless pacing technology, enhancing patient safety by eliminating surgical leads. This follows findings from the MARVEL 2 study, underscoring the device's effectiveness in synchronizing heart pacing.
Medtronic has received approval from China's National Medical Products Administration for its CoreValve™ Evolut™ PRO TAVR system, aimed at treating symptomatic severe aortic stenosis in high-risk patients. This marks the first approval for Medtronic's self-expanding TAVR system in China, based on data from over 32,000 patients showcasing high survival rates and low stroke occurrences. The commercial launch is expected in early 2022, addressing the growing clinical demand due to China's aging population. Severe aortic stenosis affects over 5 million people in China, with numbers projected to rise to 7 million by 2030.
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