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 (NYSE: MDT) announced its participation in the Bernstein 36th Annual Strategic Decisions Conference on May 29, 2020. CEO Geoff Martha will present and address questions starting at 9:00 a.m. EDT. The event will be held virtually and can be accessed through the Investor Events link on Medtronic's investor relations page. An archive of the presentation will be available later that day. Medtronic is a leader in medical technology, operating in over 150 countries and focused on improving global healthcare.
Medtronic (NYSE: MDT) announced FDA approval for the Android version of its Guardian Connect continuous glucose monitoring (CGM) system. This system alerts users of potential high or low glucose events up to 60 minutes in advance and aims to enhance the diabetes management experience. The Guardian Connect app will introduce features such as an in-app Startup Wizard and customizable alert functions. A real-world study showed that predictive alerts helped patients avoid 65% of low glucose excursions. Updated systems are expected to ship in summer 2020.
Medtronic plc (NYSE: MDT) reported Q4 2020 revenue of $6.0 billion, down 26% reported and 25% organic, impacted by COVID-19. Q4 GAAP diluted EPS was $0.48, while non-GAAP diluted EPS stood at $0.58, reflecting a 62% decline. FY20 revenue totaled $28.913 billion, a decrease of 5.4%. Despite these challenges, Medtronic announced a quarterly dividend increase to $0.58 per share, marking its 43rd consecutive year of dividend growth. The company also reported robust cash flow from operations of $7.2 billion and free cash flow of $6.0 billion, showcasing its strong financial position.
Medtronic announces the U.S. launch of Kyphon Assist™ Directional Cannula, designed for use with balloon kyphoplasty (BKP) products to treat vertebral compression fractures. This innovative device enhances physician control during procedures and improves height restoration. The Kyphon Assist is compatible across Medtronic's BKP product portfolio, offering benefits like directional control and reduced cement leakage. Vertebral compression fractures affect 1.4 million people globally, with many at risk due to osteoporosis. Medtronic aims to expand capabilities in vertebral augmentation treatments.
Medtronic (NYSE: MDT) announced the appointment of Jeffrey J. Popma, M.D., as Vice President and Chief Medical Officer, effective June 22, 2020. Dr. Popma will lead medical initiatives in the Coronary, Renal Denervation, and Structural Heart divisions. With over 20 years in interventional cardiology, he aims to enhance cardiovascular device innovation and clinical research. His extensive experience includes directing numerous clinical trials and publishing over 500 scientific articles. Nina Goodheart and Geoff Martha expressed enthusiasm about Dr. Popma joining the executive team.
Medtronic (NYSE: MDT) presented significant clinical trial results at the 2020 SCAI Scientific Sessions. The 10-year outcomes for the Melody™ Transcatheter Pulmonary Valve (TPV) showed robust long-term safety and effectiveness, with 97% of patients experiencing minimal pulmonary regurgitation. Additionally, the investigational Harmony™ TPV trial successfully met its primary endpoints at six months, with 89% of participants achieving acceptable hemodynamic function. These results underscore Medtronic's commitment to improving therapies for congenital heart disease patients.
Medtronic (NYSE:MDT) announced the FDA approval of its Cobalt and Crome implantable cardioverter-defibrillators (ICDs) and cardiac resynchronization therapy-defibrillators (CRT-Ds) featuring advanced remote monitoring via the MyCareLink Heart™ mobile app. Clinical trials presented during the virtual Heart Rhythm Society Scientific Sessions showed that patients using this app had a 94.6% adherence rate in monitoring, outperforming traditional methods. The Micra pacemaker showed a 66% reduction in complications, indicating its effectiveness in real-world settings.
Medtronic plc (NYSE: MDT) will report its financial results for Q4 and full fiscal year 2020 on May 21, 2020, at approximately 5:45 a.m. CDT. A webcast discussion is scheduled for 7:00 a.m. CDT the same day. Financial results will cover the period ending April 24, 2020. Medtronic also plans to report its fiscal year 2021 results on August 25, November 24, February 23, and May 27 of 2021. The company's Institutional Investor & Analyst Day has been postponed due to the COVID-19 pandemic. More details will be announced closer to the specific event dates.
Medtronic has expanded its Medtronic Assurance program to support U.S. diabetes customers who have lost their health insurance due to COVID-19-related job loss. Eligible customers can receive a 3-month supply of glucose sensors and insulin pump supplies at no cost. This initiative includes flexible payment plans and financial assistance for those significantly impacted by healthcare costs. The company aims to ensure continued access to diabetes technology during these challenging times.
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