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 key findings from the PRODIGY study, revealing that opioid-induced respiratory depression (OIRD) occurred in 46% of patients monitored. The study also established the PRODIGY Risk Score, a tool to identify high-risk patients for OIRD, which can lead to longer hospital stays and increased adverse events. This research assessed 1,335 patients across multiple regions, indicating a significant predictive capability for respiratory risks, thus enhancing patient safety during opioid administration.
Medtronic plc (NYSE:MDT) has received FDA approval for an early feasibility study of its Intrepid™ Transcatheter Tricuspid Valve Replacement (TTVR) system, targeting severe tricuspid regurgitation—a condition affecting over 2 million patients in the U.S. The study follows the recent Breakthrough Device Designation for the TTVR system, aimed at improving treatment access for high-risk patients. Experts express optimism that the trial will enhance understanding of this serious condition and lead to further innovations in therapy.
Medtronic plc (NYSE:MDT) will participate in the Wells Fargo Securities 2020 Virtual Healthcare Conference on September 10, 2020. The event features Karen Parkhill, executive vice president and CFO, answering questions starting at 10:40 a.m. EDT. A live webcast will be accessible through the Investor Events link on the company’s website. An archive will be available later that day. Medtronic, headquartered in Dublin, is a leader in medical technology, employing over 90,000 people globally. It focuses on improving health outcomes worldwide.
Medtronic plc (NYSE:MDT) has received FDA approval for its MiniMed™ 770G hybrid closed-loop insulin pump system, enhancing diabetes management for children as young as 2. This advanced system includes SmartGuard™ technology with smartphone connectivity, allowing caregivers to monitor real-time glucose levels and share data with clinicians. The MiniMed 770G aims to improve clinical outcomes based on evidence from a clinical study, indicating no severe hypoglycemia or device-related adverse events. Orders for the system will begin in the United States this week.
DUBLIN, Aug. 29, 2020 – Medtronic (NYSE: MDT) announced positive clinical trial results for its Arctic Front™ Advance Cryoballoon and Freezor® MAX Catheter. In the STOP-AF First trial, cryoablation proved superior to antiarrhythmic drugs (AAD) for treating recurrent symptomatic paroxysmal atrial fibrillation (PAF), with a 75% success rate compared to 45% for AAD. The Cryo-FIRST trial further showed significant quality of life improvements with the cryoablation system. The Arctic Front Advance is FDA-approved for treating symptomatic recurrent persistent AF, expanding treatment options for patients.
Medtronic plc (NYSE: MDT) reported Q1 fiscal 2021 revenue of $6.5 billion, a 13% decline as reported and 17% organic. GAAP diluted EPS fell to $0.36, with non-GAAP diluted EPS at $0.62, both down 51%. U.S. revenue decreased 14%, and non-U.S. developed market revenue fell 8%. Emerging markets revenue was down 18%. Despite a recovery in procedure volumes, significant declines in various segments, including Cardiac and Vascular Group and Minimally Invasive Therapies Group, were observed. Medtronic is not providing formal financial guidance due to pandemic uncertainty.
Medtronic plc (NYSE:MDT) has appointed Kevin Lofton as an independent director, effective September 15, 2020. Lofton, a seasoned healthcare executive, has extensive experience leading major hospital systems and was most recently CEO of CommonSpirit Health. His appointment is expected to provide the board with valuable insights in navigating the evolving healthcare landscape. Lofton has been recognized multiple times as one of healthcare's most influential figures and is currently the lead independent director at Gilead Sciences.
Medtronic plc (NYSE: MDT) announced a cash dividend of $0.58 per ordinary share for Q2 FY2021, marking a 7% increase from the prior year. This dividend reflects Medtronic's ongoing commitment to returning value to shareholders and continues its record as a member of the S&P 500 Dividend Aristocrats index, having raised dividends for 43 consecutive years. The dividend will be payable on October 16, 2020, to shareholders on record by the close of business on September 25, 2020.
Medtronic announced FDA approval for revised commercial labeling of the Evolut™ TAVR platform, expanding treatment options for patients with bicuspid severe aortic stenosis. The updated guidelines address anatomical characteristics and highlight favorable clinical outcomes, with a 1.3% rate of mortality or disabling stroke within 30 days after the procedure. The Evolut platform is now indicated for symptomatic severe AS patients across all risk categories, enhancing its adoption globally. This revision reflects Medtronic's commitment to providing innovative solutions in heart valve therapies.
Medtronic has launched the ELITE study, a prospective, multicenter trial aimed at confirming the long-term safety and efficacy of its InterStim™ Micro system for treating overactive bladder, fecal incontinence, and non-obstructive urinary retention. The study will enroll 160 patients across 40 sites globally, assessing patient-reported outcomes and quality of life over two years. The InterStim Micro received FDA approval on August 3, 2020, and is positioned as the gold standard in sacral neuromodulation therapy, potentially addressing the needs of millions of patients suffering from bladder and bowel issues.
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