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 has initiated the ADAPT-PD trial, the first study to explore the safety and efficacy of adaptive deep brain stimulation (aDBS) for Parkinson's Disease. The trial includes 36 participants across 12 centers in North America, Europe, and Canada. It aims to compare aDBS with standard continuous deep brain stimulation (cDBS) based on patient-reported outcomes over 15 months. The Percept PC device, FDA-approved in June 2020, enables this investigational feature to automatically adjust stimulation based on brain signals. Positive clinical outcomes from ADAPT-PD could enhance Medtronic's positioning in the neuromodulation market.
The Foundry has successfully completed the first-in-human procedure using the Half Moon Medical transcatheter mitral valve repair technology at Oregon Health and Science University as part of an FDA-approved feasibility study. The device addresses severe symptomatic mitral regurgitation, a common heart valve disease affecting approximately four million people in the U.S. The first patient has been discharged and is recovering as anticipated. This innovative solution offers a minimally invasive alternative to traditional open-heart surgery, providing a significant advancement in heart valve repair.
Medtronic plc (NYSE:MDT) announced its participation in the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 11, 2021. CEO Geoff Martha will present and engage in a Q&A session at 8:20 a.m. EST. The event will be accessible via a live webcast through Medtronic's Investor Relations website, and an archive will be available later that day. Medtronic, headquartered in Dublin, Ireland, is a leading global provider of medical technology, employing over 90,000 staff and serving customers in over 150 countries.
Medtronic (NYSE: MDT) received FDA clearance for its Midas Rex™ high-speed drills and navigated interbody tools integrated with the Mazor™ Robotic Guidance System. This early approval enhances the surgical workflow by improving precision and predictability, which is expected to lead to better patient outcomes. The upgraded Mazor platform offers 3D visualization, increased efficiency, and the ability to visualize disc prep during procedures. The company aims to transform spinal care by addressing customer needs with advanced technologies.
Medtronic plc (NYSE: MDT) announced positive outcomes from the OPuS One Clinical Study involving the OsteoCool™ Radiofrequency Ablation (RFA) System. The study, the largest of its kind for bone metastases, demonstrated significant and swift pain relief in the first 100 patients, with improvements noted just three days post-procedure and sustained for up to six months. Key findings include an 87% incidence of thoracolumbar spine tumors among participants and effective pain management for patients inadequately treated by traditional methods. Results were published in the November edition of the Journal of Vascular and Interventional Radiology.
On December 14, 2020, Medtronic plc (NYSE:MDT) announced Sean Salmon's appointment as Executive Vice President and President of the Cardiovascular Portfolio, effective January 1. He will retain his role leading the Diabetes Operating Unit. Salmon succeeds Mike Coyle, who departs to become CEO of another company. Medtronic's Chairman, Geoff Martha, praised Salmon's leadership experience and success in previous roles. Salmon aims to drive growth and innovation in both the Diabetes and Cardiovascular sectors to enhance patient outcomes.
Medtronic plc (NYSE: MDT) announced a cash dividend of $0.58 per share for the third quarter of fiscal year 2021, approved by the board on December 11, 2020. This follows the dividend announcement made in June 2020, and is consistent with Medtronic's history as a member of the S&P 500 Dividend Aristocrats index, having raised its annual dividend for 43 consecutive years. The dividend will be payable on January 15, 2021, to shareholders of record as of December 22, 2020.
Medtronic plc (NYSE:MDT) has launched the Carpediem™ Cardio-Renal Pediatric Dialysis Emergency Machine in the U.S. following FDA marketing authorization. This innovative system, designed specifically for patients weighing 2.5 to 10 kilograms, addresses the critical needs of young patients with acute kidney injury or fluid overload, providing safer and more effective hemodialysis. The first units are now in use at Cincinnati Children's Hospital Medical Center, enhancing the treatment options for neonates, who face a high mortality rate from kidney injuries.
Medtronic plc (NYSE:MDT) announced its participation in the Evercore ISI 3rd Annual HealthCONx Conference, scheduled for December 3, 2020. Mike Weinstein, SVP of Strategy, will address questions starting at 8:50 a.m. EST. A live audio webcast will be accessible via the Investors Events link on Medtronic's investor relations website, with an archived replay available later the same day. Medtronic, headquartered in Dublin, Ireland, is a leading global medical technology company, employing over 90,000 individuals and serving patients in more than 150 countries.
Medtronic plc (NYSE:MDT), a leader in medical technology, will participate virtually in the Piper Sandler 32nd Annual Healthcare Conference on December 2, 2020. Mike Coyle, Executive Vice President and President of the Cardiovascular Portfolio, will address inquiries starting at 10:30 a.m. EST. A live audio webcast of the session will be accessible through the Investors Events link on Medtronic's investor relations website, with an archived playback available later. Medtronic focuses on advancing healthcare worldwide, employing over 90,000 people across more than 150 countries.
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