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) reported Q3 fiscal 2021 results, showing revenue of $7.775 billion, a 0.8% increase as reported but a 1.0% decline organically. GAAP diluted EPS was $0.94, while non-GAAP diluted EPS fell 10% to $1.29. U.S. revenue decreased 2%, while non-U.S. developed markets increased 6% as reported. The Cardiac and Vascular Group saw a 4.0% decrease in revenue, and the Minimally Invasive Therapies Group experienced a 6.3% increase, partly due to COVID-19 related products. The firm refrained from providing formal financial guidance due to ongoing uncertainties.
Medtronic (NYSE:MDT) announced FDA approval for expanded MRI labeling of its InterStim™ II and InterStim™ Micro sacral neuromodulation systems using SureScan™ MRI leads. This updated labeling enhances MRI scan parameters and reduces wait times, improving patient access. New features include increased B1+rms settings for MRI scans and reduced maximum duration scan wait times from 60 to 5 minutes. The SureScan technology eliminates impedance checks before MRI, streamlining patient care. Medtronic continues to innovate in SNM therapy, highlighting over 70 FDA approvals for its InterStim portfolio.
Medtronic plc (NYSE: MDT) announced its participation in several upcoming virtual investor conferences. Key details include:
- SVB Leerink Global Healthcare Conference on February 24, 2021, at 9:20 AM EST, featuring Mike Weinstein.
- Citi's Healthcare Services Conference on February 25, 2021, at 2:25 PM EST, with Brett Wall speaking.
- Cowen Annual Healthcare Conference on March 2, 2021, at 12:50 PM EST, featuring Karen Parkhill.
- Oppenheimer Healthcare Conference on March 16, 2021, at 1:10 PM EDT, with Sean Salmon.
Webcasts will be available on Medtronic's investor relations page.
On February 17, 2021, Medtronic plc (NYSE:MDT) announced a global recall of its Valiant Navion thoracic stent graft system due to safety concerns. This decision followed reports of stent fractures and associated serious complications in patients from the Valiant Evo Global Clinical Trial. Notably, one patient death was reported, and seven out of 87 patients showed stent ring enlargement. Medtronic is conducting a thorough investigation and has urged physicians to cease use of the device while prioritizing patient safety.
Medtronic plc (NYSE:MDT) will report its third quarter financial results for fiscal year 2021 on February 23, 2021, at 5:45 a.m. CST. The report will include financial data for the quarter ending January 29, 2021. Medtronic will hold a video webcast to discuss these results at 7:00 a.m. CST, available on their investor relations website. Future earnings releases are also scheduled through fiscal year 2022.
Medtronic (NYSE:MDT) announced that leading spine surgeons in the U.S. have successfully performed surgeries using its Mazor Robotic Guidance System with newly cleared navigated disc prep and Midas Rex™ drills. These minimally invasive procedures demonstrate improved precision and planning, enhancing patient outcomes. Surgeons report significant benefits, including faster recoveries and reduced pain for patients. The technology's versatility allows seamless integration into existing workflows, even amidst the challenges posed by the COVID-19 pandemic.
Medtronic plc (NYSE:MDT) released findings from a study comparing the Nellcor™ Bedside SpO2 Patient Monitoring System and Masimo Radical-7® Pulse CO-Oximeter. The study indicated that Nellcor delivered a statistically significant faster stable oxygen saturation reading in newborns, averaging 15 seconds, compared to 27 seconds for Masimo. Additionally, heart rate discrepancies revealed Masimo often reported false bradycardia, while Nellcor closely aligned with ECG readings. This enhanced accuracy could impact neonatal resuscitation outcomes, adhering to neonatal resuscitation guidelines.
Medtronic has expanded its radial artery access portfolio by acquiring RIST Neurovascular. This portfolio includes the first catheter designed for neurointerventions via the radial artery, enhancing Medtronic's capabilities in treating brain aneurysms and other neurovascular conditions. The Rist 079 Radial Access Guide Catheter and Selective Catheter have received FDA 501(k) clearance. Medtronic has completed over 80 cases with positive feedback from physicians, aiming to further develop this portfolio. Although initial revenue contributions are expected to be low, the acquisition aligns with Medtronic's long-term financial objectives.
Medtronic plc (NYSE:MDT) announced FDA approval for its DiamondTemp™ Ablation (DTA) system, designed to treat recurrent symptomatic paroxysmal atrial fibrillation (AF) in patients unresponsive to drug therapy. The DTA system is the first temperature-controlled, irrigated radiofrequency ablation system utilizing diamonds, which enhances thermal conductivity and allows for efficient energy delivery. The approval follows the successful DIAMOND-AF trial, showing 96.7% freedom from complications in the DTA group. This innovation positions Medtronic to expand its portfolio and meet the needs of AF patients.
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