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 and Foxconn have partnered to manufacture 10,000 Puritan Bennett™ 560 ventilators in the U.S. over the next year, following Medtronic's ventilator open-source initiative. With Foxconn meeting Medtronic's regulatory standards, the production will take place in Mount Pleasant, Wisconsin. This collaboration aims to enhance ventilator supply critical for COVID-19 patients, with the possibility of doubling production if necessary. The PB560 model, introduced in 2010, is essential for managing severe respiratory illnesses.
Medtronic (NYSE: MDT) announced positive results from the ABRE clinical study, assessing the Abre venous self-expanding stent for iliofemoral outflow obstruction. The study demonstrated a 2.0% rate of major adverse events and an 88.0% primary patency rate at 12 months. Notable secondary endpoints included 100.0% device success and a 92.4% freedom from target lesion revascularization rate. Though Abre is currently investigational in the U.S., it received CE Mark approval in April 2017, indicating effective treatment options for patients with significant venous conditions.
Medtronic plc (NYSE: MDT) announced advancements in its extended wear infusion set technology during the American Diabetes Association's 80th Scientific Sessions. This new infusion set can be used safely for up to 7 days, more than twice the lifespan of current 3-day sets. Clinical studies indicate improved insulin stability, reducing the risk of hyperglycemia. Patients can potentially save 5-10 vials of insulin annually. The product has received the CE Mark, and a pivotal trial in the U.S. is underway to study its safety and efficacy.
Medtronic has announced a significant funding agreement with Blackstone Life Sciences to enhance its research and development in diabetes management. The collaboration will provide $337 million over several years, focusing on innovative insulin delivery and sensor technologies. This investment aims to address unmet needs for the 22 million global Type 1 diabetes patients. Medtronic plans to fast-track multiple development programs while the funding will cover R&D expenses, with potential royalties in the low- to mid-single digits if commercialized.
Medtronic announced positive results from two pivotal clinical trials for its MiniMed™ 780G automated insulin pump aimed at improving Type 1 diabetes management. The U.S. trial, focusing on ages 14-75, showed 96% user satisfaction, no severe hypoglycemia, and an average A1C of 7.0%. A New Zealand trial highlighted a 13-point boost in Time in Range for less-controlled patients. Bluetooth connectivity for real-time glucose monitoring is also a feature. The findings will support an upcoming FDA Premarket Approval application.
Medtronic (NYSE:MDT) has received CE Marking for its MiniMed™ 780G insulin pump, designed for type 1 diabetes patients aged 7 to 80. This system automates insulin delivery via the SmartGuard™ algorithm, providing basal insulin and correction boluses every five minutes. It allows customizable glucose targets and features Bluetooth connectivity for real-time glucose monitoring. Clinical feedback highlights improved diabetes management and quality of life. The MiniMed 780G is set to ship in select European markets this fall but is still under investigation in the U.S.
Medtronic (NYSE:MDT) announced participation in the American Diabetes Association's 80th Scientific Sessions, running from June 12-16, 2020. The company will present 16 data presentations, including a symposium on its Advanced Hybrid Closed-Loop Systems and related technologies. Medtronic's virtual exhibit will showcase innovations in diabetes technology and telehealth support. The presentation aims to highlight clinical outcomes and differentiated support offerings, focusing on improved diabetes management.
Medtronic has received CE Mark approval for a one-month dual antiplatelet therapy (DAPT) indication for high bleeding risk (HBR) patients implanted with its Resolute Onyx™ Drug-Eluting Stent. This first-of-its-kind global approval allows shorter DAPT regimens for HBR patients, which comprise nearly 40% of all PCI patients. The decision is based on the Onyx ONE Global Study, demonstrating non-inferior outcomes compared to a competitive device. Medtronic aims to secure similar approval in the U.S. after submitting relevant data to the FDA.
Medtronic plc (NYSE: MDT) will participate in the Goldman Sachs 41st Annual Global Healthcare Conference on June 9, 2020. CEO Geoff Martha will speak starting at 8:00 a.m. EDT. A live audio webcast will be accessible on Medtronic's Investor Relations site, with an archive available later the same day. Medtronic, headquartered in Dublin, is a global leader in medical technology, employing over 90,000 people and serving more than 150 countries.
Medtronic (NYSE: MDT) announced its participation in the Jefferies 2020 Global Healthcare Conference on June 3, 2020. Karen Parkhill, the CFO, will address questions at 2:30 p.m. EDT. A live audio webcast will be accessible via the Investor Events link on the Medtronic investor relations page, with a replay available later the same day. Medtronic operates globally, employing over 90,000 people and serving patients in more than 150 countries, focusing on advancing healthcare solutions.
FAQ
What is the current stock price of Medtronic plc (MDT)?
What is the market cap of Medtronic plc (MDT)?
What does Medtronic plc specialize in?
Where are Medtronic’s headquarters located?
How significant are Medtronic’s international sales?
What recent advancements has Medtronic made in AI for healthcare?
What are Medtronic’s recent financial achievements?
What new technology has Medtronic introduced for chronic pain treatment?
How many employees does Medtronic have worldwide?
What is Medtronic’s mission?
Where can I find more information about Medtronic?
How does Medtronic approach innovation in healthcare?
