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 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.
Medtronic plc (NYSE:MDT) announced a $3M contribution to COVID-19 relief, increasing its total support to $56M. The initiative focuses on underserved regions in India, Brazil, and the U.S., addressing medical supplies, treatment sites, and health worker training. Partnering with nonprofits, the Medtronic Foundation aims to improve healthcare equity and combat vaccine hesitancy. Additionally, it will match employee donations 2:1 to eligible nonprofits and engage employees in virtual volunteer efforts.
Medtronic plc (NYSE:MDT) announced the U.S. launch of the SonarMed™ airway monitoring system, the first device to utilize acoustic technology for real-time monitoring of endotracheal tube position and obstruction in neonates. Each year, 415,000 infants require mechanical ventilation, with 75,000 suffering unplanned extubations. The SonarMed system aims to reduce these events, improving patient outcomes and lowering healthcare costs. Clinicians report significant improvements in care efficiency and reduced need for x-rays. The system is FDA-cleared and comprised of a bedside monitor and a single-use sensor.
Medtronic has launched CareGuidePro, a mobile app and web portal designed to assist patients undergoing spinal cord stimulation therapy. This platform allows patients to log pain relief and provide feedback, which helps care teams manage treatments more effectively. The app includes features such as caregiver access, procedure-specific FAQs, and secure communication among care teams. A limited commercial release is underway, with a wider release expected later in summer 2021. Medtronic emphasizes that digital health solutions will enhance patient engagement and outcomes.
Medtronic (NYSE: MDT) has announced the CE Mark approval of the Evolut™ PRO+ TAVI System, expanding its TAVI platform for treating symptomatic severe aortic stenosis. The system offers four valve sizes and features an external tissue wrap for enhanced sealing. This new approval supports treatment for low-risk surgical patients and those with bicuspid aortic valves. The Evolut PRO+ aims to improve hemodynamic performance while minimizing vascular access challenges, ultimately broadening patient eligibility for transfemoral procedures.
Medtronic plc (NYSE:MDT) announced promising interim results from the OPTIMIZE PRO clinical study involving 171 patients treated with the Evolut™ PRO and PRO+ TAVR systems for severe aortic stenosis. Key findings revealed zero deaths or disabling strokes and a low pacemaker rate of 8.8% at 30 days. The study highlighted excellent hemodynamic performance, with most patients experiencing expedited discharges within a median of one day. Conducted at multiple sites in the U.S., Canada, and Europe, the study aims to refine TAVR care pathways to enhance patient outcomes.
Medtronic plc (NYSE:MDT) has received Breakthrough Device Designation from the FDA for its Emprint™ ablation catheter kit, aimed at the minimally invasive treatment of lung malignancies. This investigational device, which works with the Emprint™ microwave generator and lung navigation platform, provides localized treatment while preserving lung function. Although not yet approved in the U.S., the device is CE Marked and has completed enrollment for the NAVABLATE study in Europe and Hong Kong. The FDA's designation will facilitate priority review and support in clinical trial designs for Medtronic.
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