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Medtronic plc - MDT STOCK NEWS

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.

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Medtronic plc (NYSE: MDT) has received FDA clearance for two AccuRhythm AI algorithms to enhance the LINQ II insertable cardiac monitor's diagnostic accuracy. These algorithms focus on reducing false alerts for atrial fibrillation and asystole, achieving significant improvements with a 74.1% reduction in false AF alerts and a 97.4% reduction in false pause alerts. The algorithms will be available on the CareLink Network later this year. This innovation is expected to support better patient management and improve clinical efficiencies for healthcare providers.

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Medtronic plc (NYSE: MDT) released data from the WRAP-IT study, showing an 82% reduction in major infections for patients with hematomas following cardiac implants when using the TYRX Absorbable Antibacterial Envelope. The study involved 6,800 patients, highlighting a 2.2% hematoma incidence consistent across groups. The findings indicate that hematomas significantly increase infection risks, with implications for 1.5 million annual CIED recipients worldwide. Medtronic aims to mitigate these risks through the envelope, which is designed to release antibacterial agents and stabilize devices post-implantation.

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Medtronic has launched the Prevail™ drug-coated balloon (DCB) catheter in Europe following CE mark approval. Designed for treating complex coronary lesions during percutaneous coronary interventions, the Prevail DCB features rapid absorption of paclitaxel and superior deliverability. Clinical results from the PREVAIL Study showed favorable late loss of 0.05 ± 0.44 mm at 6 months and a strong safety profile, with no stent thrombosis or cardiac death. This device builds on the previous IN.PACT Falcon DCB, addressing the challenges of complex vessels in interventional cardiology.

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Medtronic (NYSE:MDT) has integrated the Hugo robotic-assisted surgery system at Hospital Clinico de la Red de Salud UC CHRISTUS in Santiago, Chile, enhancing access to minimally invasive procedures. This partnership marks a significant step in Medtronic's Partners in Possibility Program. The system aims to address cost barriers and improve surgical outcomes, as currently, only 3% of surgeries utilize robotic assistance globally. Additionally, a new Surgical Robotics Experience Center has opened in Santiago for clinician training. The Hugo RAS system is not yet cleared in the U.S. or Europe.

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Medtronic plc (NYSE:MDT) announced an economic model based on the PRODIGY trial, demonstrating that continuous pulse oximetry and capnography monitoring can save over $500,000 annually for hospitals. This model predicts a reduction in respiratory depression by 20%, leading to a decrease of 103 patient days per year in a median-sized U.S. hospital. The findings emphasize the heightened safety and cost-effectiveness of continuous monitoring for patients receiving opioids compared to intermittent methods, supporting the company's commitment to improving patient outcomes.

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Medtronic (NYSE:MDT) has launched the DEFINE AFib study, the first app-based research initiative aimed at understanding atrial fibrillation (AF) burdens and their effects on patient outcomes. Enrolling around 5,000 patients, the study utilizes data from the LINQ insertable cardiac monitors and the Medtronic Discovery App™. This remote study will enhance AF management through a machine learning approach, leveraging both device data and patient-reported information. Conducted with leading medical centers, it aims to personalize AF management strategies.

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Medtronic plc (NYSE:MDT) presented significant clinical data at the American Diabetes Association's 81st Scientific Sessions, showcasing the InPen smart insulin pen and an extended-wear infusion set. Results indicated a 2.3% and 5% increase in Time in Range for users with glycemic management indicators over 8% and 9.5%, respectively, with no rise in hypoglycemia. Additionally, a study on the seven-day infusion set demonstrated sustained insulin delivery without severe adverse events. Both innovations aim to enhance diabetes management and patient experience.

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Medtronic plc (NYSE: MDT) announced its participation in the ADA 81st Scientific Sessions from June 25-29, 2021. The company will present seven data presentations, including insights on its InPen smart insulin pen and Extended Infusion Set. Key studies include the impact of InPen on glycemic outcomes and results from the EWIS pivotal trial. Additionally, Medtronic will host a product theater and offer on-demand learning sessions, showcasing advancements in diabetes management technology aimed at improving patient care and glucose control.

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On June 19, 2021, Medtronic (NYSE:MDT) successfully performed the first patient procedure using its Hugo™ robotic-assisted surgery (RAS) system at Clínica Santa María in Santiago, Chile. This milestone initiates the global patient registry for the Hugo RAS system, aimed at collecting clinical data for regulatory submissions worldwide. The system promises to enhance surgical precision while minimizing invasiveness, ultimately leading to better patient outcomes. However, the Hugo RAS system is not yet approved in the U.S. or Europe, with regulatory timelines yet to be determined.

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Medtronic plc (NYSE: MDT) announced FDA expanded approval for its Arctic Front™ Family of Cardiac Cryoablation Catheters as an initial rhythm control strategy for recurrent symptomatic paroxysmal atrial fibrillation. This is the first approval allowing cryoablation before antiarrhythmic drug therapy failure. Results from the STOP AF First study showed cryoablation significantly outperforms drug therapy in preventing arrhythmia recurrence. Nearly 60 million people are affected by atrial fibrillation globally, with this new option providing a safer, effective alternative to traditional treatments.

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FAQ

What is the current stock price of Medtronic plc (MDT)?

The current stock price of Medtronic plc (MDT) is $89.25 as of October 31, 2024.

What is the market cap of Medtronic plc (MDT)?

The market cap of Medtronic plc (MDT) is approximately 114.4B.

What does Medtronic plc specialize in?

Medtronic specializes in developing and manufacturing therapeutic medical devices for chronic diseases, including pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools.

Where are Medtronic’s headquarters located?

Medtronic’s operational and executive headquarters are in Minneapolis, Minnesota, while its legal headquarters are in Dublin, Ireland, following its acquisition of Covidien in 2015.

How significant are Medtronic’s international sales?

International sales account for roughly 50% of Medtronic’s total revenue.

What recent advancements has Medtronic made in AI for healthcare?

Medtronic recently launched the ColonPRO™ software for the GI Genius™ intelligent endoscopy system, enhancing AI-driven polyp detection and procedural highlights. The company also partnered with Modernizing Medicine® to integrate AI data with EHR systems.

What are Medtronic’s recent financial achievements?

Medtronic reported a global revenue of $32.364 billion for fiscal year 2024, a 3.6% increase from the previous year, driven by growth in its Cardiovascular, Neuroscience, Medical Surgical, and Diabetes portfolios.

What new technology has Medtronic introduced for chronic pain treatment?

Medtronic introduced the Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS), which the U.S. FDA approved for the treatment of chronic pain.

How many employees does Medtronic have worldwide?

Medtronic has a global team of over 95,000 employees across 150 countries.

What is Medtronic’s mission?

Medtronic's mission is to alleviate pain, restore health, and extend life.

Where can I find more information about Medtronic?

For more information about Medtronic, visit their official website at Medtronic.com.

How does Medtronic approach innovation in healthcare?

Medtronic leverages its diverse knowledge, insatiable curiosity, and commitment to helping those in need to deliver innovative technologies that transform lives, focusing on engineering extraordinary healthcare solutions.

Medtronic plc

NYSE:MDT

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Electromedical & Electrotherapeutic Apparatus
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