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.
On March 9, 2022, Medtronic (NYSE: MDT) announced a contract with Vizient to integrate Touch Surgery Enterprise, an AI-powered surgical video management platform, into Vizient’s offerings. This platform enhances surgical training and performance by simplifying the recording, analysis, and sharing of surgical videos. It connects with existing OR equipment and supports hospitals in digitizing their processes. The agreement aims to provide nationwide access to surgical video data, enabling improved patient care and operational efficiencies across U.S. healthcare facilities.
The board of directors of Medtronic plc (NYSE:MDT) has approved a cash dividend of $0.63 per ordinary share for Q4 of fiscal year 2022, marking an 8.6% increase from the previous year. This dividend aligns with the company's commitment to returning value to shareholders, maintaining its status as an S&P 500 Dividend Aristocrat with a continuous annual dividend increase for 44 years. The dividend is set to be paid on April 22, 2022, to shareholders on record by March 25, 2022.
Medtronic (NYSE: MDT) announced its participation in the 42nd annual Cowen healthcare conference on March 7, 2022. The event will feature Karen Parkhill, Medtronic's executive vice president and CFO, who will engage in a Q&A session starting at 1:30 p.m. EST (12:30 p.m. CST). A live webcast of this session will be available on Medtronic's investor relations website, with an archive accessible later that day. Medtronic is a global leader in healthcare technology, addressing major health challenges with innovative solutions.
Medtronic plc (NYSE: MDT) has launched the NuVent™ Eustachian tube dilation balloon, approved by the FDA for treating chronic obstructive Eustachian Tube Dysfunction. This innovative product allows outpatient treatment through its customizable and flexible design. Eustachian Tube Dysfunction affects approximately 4.6% of U.S. adults, causing pain and hearing issues. The NuVent™ balloon offers a minimally invasive solution that improves patient convenience and outcomes, as highlighted by medical experts. Medtronic continues to expand its portfolio for ENT procedures, addressing significant healthcare challenges.
Medtronic (NYSE:MDT) has received FDA approval for the InterStim X, a rechargeable device designed for sacral neuromodulation therapy, now available for patients. This system, part of the InterStim portfolio, boasts over 10 years of battery life without recharging, enhancing patient convenience. Backed by 90+ clinical studies and treating over 350,000 patients, the InterStim X is a significant advancement for conditions like overactive bladder and fecal incontinence. This release marks a pivotal milestone as Medtronic celebrates 25 years of innovation in nerve stimulation therapies.
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.
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