Medtronic Stock Price, News & Analysis

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.

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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.