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 plc (NYSE: MDT) has launched a pilot program with Mpirik, aimed at addressing disparities in care for sudden cardiac arrest (SCA). This collaboration seeks to identify high-risk patients through Mpirik's AI platform, Cardiac Intelligence®, by screening electronic health records at five hospitals.
The program aims to tackle treatment disparities affecting women and men of color, who receive implantable cardioverter defibrillators (ICDs) at lower rates than white men. Through this initiative, Medtronic aims to enhance patient care and reduce inequalities in treatment.
Medtronic (NYSE:MDT), a leader in medical technology, will participate in several virtual investor conferences. Key events include the Wells Fargo Healthcare Conference on September 9, featuring Bob White at 10:40 am EDT; the Morgan Stanley Global Healthcare Conference on September 14 with Geoff Martha at 10:15 am EDT; and the BofA Global Healthcare Conference on September 17 at 12:35 pm EDT, with Rob ten Hoedt. Live webcasts will be available, with archived recordings later. Medtronic aims to enhance global healthcare solutions.
Medtronic plc (NYSE:MDT) released promising results from the NAVABLATE study, presented at the European Respiratory Society International Congress 2021, demonstrating the safety and efficacy of bronchoscopic microwave ablation for malignant lung nodules. The study involved 30 patients from the UK and Hong Kong, achieving 100% technical success with only a 3.3% adverse event rate. This method offers a new treatment option for patients ineligible for surgery or stereotactic body radiation therapy. The Emprint Ablation Catheter Kit has received Breakthrough Device Designation from the FDA.
BetterInvesting Magazine has designated Medtronic PLC (NYSE: MDT) as its 'Stock to Study' and D.R. Horton Inc. (NYSE: DHI) as its 'Undervalued Stock' for the November 2021 issue. This announcement underscores the importance of self-guided investment education, especially in light of recent Social Security discussions. CEO Ken Zendel emphasizes the need for individuals to take charge of their financial futures. The selections aim to assist investors in making informed decisions. More information can be found through BetterInvesting's online tools.
Medtronic (NYSE: MDT) announced FDA approval for its Evolut™ FX transcatheter aortic valve replacement (TAVR) system on August 24, 2021. This advanced device aims to improve ease-of-use and precision for patients suffering from symptomatic severe aortic stenosis. The Evolut FX system maintains superior hemodynamic performance and offers new features for enhanced visualization during procedures. Plans for limited commercial release in fall 2021 and a full launch in early 2022 highlight its market potential.
Medtronic plc (NYSE: MDT) reported Q1 fiscal 2022 results with revenue of $8.0 billion, a 23% increase year-over-year. GAAP diluted EPS was $0.56, up 56%, while non-GAAP diluted EPS rose 127% to $1.41. U.S. revenue grew 22% to $4.1 billion, comprising 51% of total revenue. The company reiterated its FY22 revenue guidance at approximately 9% growth and raised its EPS forecast by $0.05 to a range of $5.65 to $5.75. Medtronic highlighted significant growth in several divisions, including Surgical Innovations and Cardiovascular, indicating a strong recovery from COVID-19 impacts.
On August 20, 2021, Medtronic plc (NYSE: MDT) announced a cash dividend of $0.63 per ordinary share for Q2 of fiscal year 2022, reflecting a 9% increase from the previous year. This marks the company's 44th consecutive year of dividend increases, solidifying its status as a constituent of the S&P 500 Dividend Aristocrats index. The dividend is set to be paid on October 15, 2021, to shareholders recorded by September 24, 2021.
Medtronic plc (NYSE:MDT) will report its financial results for the first quarter of fiscal year 2022 on August 24, 2021, at 5:45 a.m. CDT. This announcement follows the quarter ending on July 30, 2021. A video webcast discussing the results will be held the same day at 7:00 a.m. CDT. The company also plans to report future quarterly results on November 23, 2021, February 22, 2022, and May 26, 2022. For further details, access Medtronic's newsroom.
Medtronic has announced a definitive agreement to acquire Intersect ENT for $28.25 per share in an all-cash deal, totaling approximately $1.1 billion. This acquisition aims to enhance Medtronic's portfolio in ear, nose, and throat procedures. Intersect's products, including the PROPEL® and SINUVA® implants, will complement Medtronic's existing offerings, facilitating better treatment for patients with chronic rhinosinusitis (CRS). The deal is expected to close by the end of Medtronic's fiscal year, pending regulatory approvals and stockholder consent.
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