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) 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.
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.
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.
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.
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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