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) announced the cessation of the HVAD™ System distribution due to a rise in neurological adverse events and mortality rates compared to other devices. This decision affects approximately 4,000 existing patients. Medtronic is launching a support program for these patients and their caregivers while coordinating with global regulators. The financial impact is anticipated to be neutral to slightly accretive to fiscal year 2022 non-GAAP diluted EPS, despite the HVAD generating $141 million in FY 2021 revenue.
Medtronic plc (NYSE:MDT) announced positive real-world outcomes for its MiniMed™ 780G insulin pump system, evaluating 4,120 users across Europe. The system demonstrated a 76.2% average Time in Range and maintained 94% of users in Advanced Hybrid Closed Loop mode. A smaller cohort of 812 individuals showed a 12.1% increase in Time in Range and a 0.4% percentage drop in GMI after using the system. Available in 30 countries, it is currently under FDA review for U.S. approval.
Medtronic (NYSE:MDT) will virtually participate in the 14th International Conference on Advanced Technologies & Treatments for Diabetes from June 2-5, 2021. The company will present significant clinical data on its MiniMed™ 780G System and Continuous Glucose Monitoring Systems, showcasing cost-effectiveness and real-world outcomes. Key presentations include the performance of the MiniMed™ 780G system in pediatric and adult trials and the effectiveness of the Guardian™ Sensor (3) Continuous Glucose Monitoring System. Medtronic aims to enhance diabetes management through innovative technologies and remote patient support.
Medtronic plc (NYSE:MDT) reported strong financial results for the fourth quarter and fiscal year 2021, with fourth-quarter revenue at $8.188 billion, a 37% increase. The company's earnings per share (EPS) rose to $1.00 GAAP and $1.50 non-GAAP, a 162% and 159% increase, respectively. Fiscal year 2021 revenue reached $30.117 billion, a 4% increase as reported. Medtronic also announced a 9% dividend increase, reflecting confidence in future growth. Guidance for fiscal year 2022 indicates an expected revenue growth of approximately 9% on an organic basis.
Medtronic (NYSE:MDT) has received CE Mark approval for its Guardian™ 4 sensor and InPen™ smart insulin pen, enhancing diabetes management with no fingerstick calibration. These innovations allow integration with the MiniMed™ 780G system or standalone CGM use, expected to launch in Europe in Q2 FY22. The InPen, the first of its kind in Europe, provides real-time glucose readings and insulin dose tracking via a smartphone app. The MiniMed 780G, combined with the Guardian 4, automates insulin delivery adjustments every 5 minutes, reducing user burden significantly.
Medtronic plc (NYSE:MDT) will participate in several virtual investor conferences in early June 2021. Key events include the Jefferies Virtual Healthcare Conference on June 2 at 1:30 pm EDT, featuring Sean Salmon. On June 3 at 3:30 pm EDT, Geoff Martha will present at the Bernstein 37th Annual Strategic Decisions Conference. Finally, on June 8 at 8:00 am EDT, he will speak at the Goldman Sachs 42nd Annual Health Care Conference. Live webcasts will be available, with replays accessible later on Medtronic's investor relations website.
On May 18, 2021, Medtronic (NYSE:MDT) presented two-year results from the Evolut Low Risk Trial at EuroPCR 2021, demonstrating that the Evolut TAVR system is non-inferior to open-heart surgery for low-risk patients with aortic stenosis. The study reported all-cause mortality or disabling stroke rates of 4.3% for TAVR versus 6.3% for surgery. Other positive outcomes included lower heart failure hospitalizations and valve thrombosis rates. With over 700 patients involved, these findings reinforce TAVR's effectiveness for low-risk patients, potentially impacting a market of 165,000 patients annually.
Medtronic plc (NYSE: MDT) has launched the GSR-DEFINE Study, expanding its real-world data collection to 5,000 patients with uncontrolled hypertension. The study builds on previous findings where the Symplicity Renal Denervation System demonstrated sustained blood pressure reductions over three years. Results from the latest research showed a mean decrease of 16.7 mmHg in office systolic blood pressure. Moreover, a new analysis indicated a 26% relative risk reduction in major cardiovascular events over three years, confirming the effectiveness of RDN for hypertensive patients.
Medtronic plc (NYSE:MDT) will report its financial results for Q4 and full fiscal year 2021 on May 27, 2021, with a news release at 5:45 a.m. CDT. The announcement will include key financial metrics for the period ending April 30, 2021. A video webcast will follow at 7:00 a.m. CDT to discuss these results, accessible via the investor relations page. Looking ahead, Medtronic has set dates for fiscal year 2022 Q1 through Q4 results reports between August 24, 2021 and May 26, 2022.
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