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 announced an additional $3.8 million commitment to support healthcare workers and communities during the COVID-19 pandemic, raising its total relief efforts to more than $46 million. This initiative focuses on emergency food assistance, mental health support, and PPE donations, including over 400,000 masks. The Medtronic Foundation will also provide $1.6 million in grants to nonprofits assisting low-income communities. CEO Noel Colón emphasized the importance of this support for frontline workers and underserved populations.
Medtronic plc (NYSE:MDT) reported its Q2 fiscal year 2021 results, with revenue of $7.6 billion, marking a decrease of 0.8% reported and 1.5% organically. The company's GAAP EPS was $0.36, while non-GAAP EPS was $1.02, both down 22%. U.S. revenues fell 2% while non-U.S. developed market revenue increased 6%. The Cardiac and Vascular Group and Diabetes Group faced declines of 5.5% and 5%, respectively, though the Minimally Invasive Therapies Group saw a 6.2% organic increase. The company refrained from providing future guidance due to ongoing COVID-19 uncertainties.
Medtronic plc (NYSE:MDT) plans to announce its financial results for Q2 FY2021 on November 24, 2020, at 5:45 a.m. CST. The announcement will include key financial metrics for the quarter ending October 30, 2020. A webcast discussing these results will be held at 7:00 a.m. CST on the same day. Medtronic also scheduled to report FY2021 Q3 and Q4 results on February 23, 2021, and May 27, 2021, respectively. Investors are encouraged to visit their website for updates.
Medtronic (NYSE:MDT) announced that the STOP AF First trial results, published in the New England Journal of Medicine, show that cryoablation with the Arctic Front™ Advance Cardiac Cryoballoon significantly outperforms antiarrhythmic drug therapy for treating paroxysmal atrial fibrillation (PAF). At 12 months, 75% of patients receiving cryoablation remained free from atrial arrhythmia compared to 45% in the drug therapy group (P<0.001). The trial demonstrated low complication rates (1.9%) and improvements in quality of life (P<0.01). This evidence supports cryoablation's use as a first-line treatment for symptomatic PAF.
Medtronic has successfully completed its friendly tender offer for Medicrea International, acquiring over 90% of its share capital at €7.00 per share. This acquisition, which marks Medtronic's seventh in 2020, enhances its position in AI and predictive analytics in spinal surgery. Medicrea's innovative UNiD™ ASI platform promises improved surgical outcomes and personalized care. The deal positions Medtronic as a leader in AI-driven spinal technologies, aiming to reduce variability in surgical procedures and enhance patient care.
Medtronic plc (NYSE: MDT) has launched the InPen™, the first FDA-cleared smart insulin pen integrated with real-time Guardian Connect™ CGM data. This system allows users to view glucose readings and insulin dose information in a single app, simplifying diabetes management. The launch follows Medtronic's acquisition of Companion Medical in September 2020, broadening its product offerings. This innovation aims to enhance user experience and dosing decisions for individuals on multiple daily injections (MDI).
Medtronic (NYSE:MDT) announced FDA 510(k) clearance for its NIM Vital™ nerve monitoring system, enhancing surgical precision during head and neck procedures. This system aids in identifying and monitoring nerve function to mitigate risks. Additionally, Medtronic acquired Ai Biomed Corp., maker of the PTeye™ system, further improving its ENT portfolio. The PTeye system confirms parathyroid tissue during thyroid surgeries, crucial for patient safety. The acquisition is expected to be accretive to Medtronic's ENT business following an immaterial first-year impact.
Medtronic plc (NYSE:MDT) announced FDA approval for its Abre™ venous self-expanding stent system, aimed at treating symptomatic iliofemoral venous outflow obstruction. This device addresses deep venous obstruction, which can lead to serious conditions like blood clots. The approval is based on 12-month results from the ABRE clinical study, which showed a low major adverse event rate of 2.0% and an 88.0% primary patency rate at one year. The stent is designed to offer strength and flexibility, crucial for treating a challenging patient population.
Medtronic plc (NYSE:MDT) announced significant 12-month results from a multicenter randomized controlled trial, validating DTM™ Spinal Cord Stimulation (SCS) therapy's effectiveness for chronic back pain. At 12 months, 84% of DTM SCS patients reported at least 50% pain relief, versus 51% for conventional SCS (p=0.0005). Notably, 69% of DTM SCS patients experienced profound relief (>80% VAS score reduction) compared to 35.1% with conventional therapy. The study underscores the potential advantages of DTM SCS and its novel approach in pain management.
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