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Medtronic plc - MDT STOCK NEWS

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.

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Medtronic (MDT) has been recognized as a 'Best Place to Work for Disability Inclusion' for the seventh consecutive year in the U.S. and for the first time in the U.K. by Disability:IN and the American Association of People with Disabilities. The company earned a top score of 100 on the 2024 Disability Equality Index®, the world's most comprehensive benchmarking tool for measuring disability workplace inclusion.

This recognition, along with Medtronic's ranking among DiversityInc's 2024 Top Companies for People with Disabilities, validates the company's commitment to employees with disabilities and their allies. Medtronic's focus on inclusion, diversity, and equity (ID&E) aims to create a culture where all employees belong, are respected, and feel valued. This approach not only enhances employee well-being but also accelerates innovation in lifesaving technologies.

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Medtronic announced on June 26, 2024, that Karen Parkhill, its Chief Financial Officer, will resign to join HP as CFO. Parkhill will remain in her role until August 2, 2024, after which Gary Corona, SVP of Global Financial Planning, will serve as interim CFO. CEO Geoff Martha expressed gratitude for Parkhill's eight years of leadership, particularly during the pandemic and the company's recent transition to a new operating model. The company reassured stakeholders by reaffirming its financial guidance for Q1 and the full fiscal year 2025.

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Medtronic presented new data on the MiniMed™ 780G system at the American Diabetes Association's 84th Scientific Sessions, highlighting its effectiveness in managing type 1 diabetes. The data demonstrated significant improvements in reducing early morning hyperglycemia, known as dawn phenomenon, and enhancing overnight sleep quality. Users of the MiniMed™ 780G system experienced a decrease in dawn phenomenon rates from 12.2% to 4.5%, and a 45% reduction in nighttime alerts. Time in Range (TIR) increased from 87.7% to 91.4% during the critical hours of 12-6 a.m. The system's advanced algorithm provides autocorrections every 5 minutes, significantly reducing the burden of diabetes management. Additionally, promising results were presented for the next iteration of the system, paired with the Simplera Sync™ sensor, showing improvements in clinical outcomes. The new system will be launched in parts of Europe in late July.

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Sempra (NYSE: SRE) has appointed Jennifer M. Kirk to its board of directors, effective June 20, 2024. Kirk currently serves as the global controller and chief accounting officer at Medtronic (NYSE: MDT) and brings over 20 years of experience in the energy sector. Her previous roles include various senior positions at Occidental Petroleum Kirk also chairs the audit committee at Republic Services. With her appointment, Sempra's board now has 10 directors, including three new members added over the past five years. Kirk will be a member of the audit and the safety, sustainability, and technology committees.

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BetterInvesting Magazine has announced Amphastar Pharmaceuticals (NASDAQ: AMPH) as its 'Stock to Study' and Medtronic (NYSE: MDT) as its 'Undervalued Stock' for the September 2024 issue. The National Association of Investors Corp. (NAIC) encourages investors to focus on fundamentals and informed decision-making. The magazine's choices are informational and educational, not endorsements. A trial version of BetterInvesting's tools is available for non-members to analyze these stocks. The committee includes several CFA members who review the stocks, emphasizing investor education. Full details will be available in the magazine's September issue.

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Medtronic LABS has released a documentary titled 'Better Health for Everyone, Everywhere,' showcasing their healthcare technology's impact on underserved communities. It follows Jane Muthoni, who, diagnosed with diabetes during her childhood, now travels across Africa to educate others on managing conditions like diabetes and high blood pressure. The documentary highlights the important role of Medtronic LABS in providing essential health services to over half the world's population that currently lacks access. The initiative aims to improve health outcomes by leveraging healthcare technology to reach more communities.

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Medtronic (NYSE: MDT) chairman and CEO Geoff Martha is scheduled to speak at the 45th annual Goldman Sachs global healthcare conference on June 11, 2024. The Q&A session will start at 10:40 a.m. EDT and will be available via a live webcast. An archive will be accessible later on the company's investor relations webpage.

Medtronic, headquartered in Dublin, Ireland, is a leading global healthcare technology company. It operates in over 150 countries with a workforce of more than 95,000. The company offers innovative solutions across 70 health conditions including cardiac devices, surgical robotics, and insulin pumps. Medtronic is committed to alleviating pain, restoring health, and extending life.

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Medtronic has closed a €3.0 billion public offering of senior notes. The offering includes €850 million of 3.650% notes due 2029, €850 million of 3.875% notes due 2036, €600 million of 4.150% notes due 2043, and €700 million of 4.150% notes due 2053. The net proceeds, approximately €2.97 billion, will be used for general corporate purposes, including debt repayment. The notes are guaranteed by Medtronic and Medtronic Global Holdings S.C.A. Citigroup, J.P. Morgan, Merrill Lynch, and Mizuho led the offering, with several other firms acting as co-managers.

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Medtronic plc (NYSE: MDT) has announced the pricing of €3 billion in senior notes through its subsidiary, Medtronic, Inc. The offering includes €850 million in 3.650% senior notes due 2029, €850 million in 3.875% senior notes due 2036, €600 million in 4.150% senior notes due 2043, and €700 million in 4.150% senior notes due 2053. The notes are guaranteed by Medtronic plc and its subsidiary Medtronic Global Holdings S.C.A. The proceeds will be used for general corporate purposes including debt repayment. The offering closes on June 3, 2024, managed by Citigroup, J.P. Morgan, Merrill Lynch, and Mizuho.

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Medtronic (NYSE:MDT) announced its Q4 and FY24 financial results on May 23, 2024. Q4 revenue was $8.6 billion, a 0.5% increase reported and 5.4% organic. For FY24, revenue was $32.4 billion, up 3.6% reported and 5.2% organic. Q4 GAAP EPS was $0.49, and non-GAAP EPS was $1.46. FY24 GAAP EPS was $2.76, and non-GAAP EPS was $5.20. Cash from operations increased 12% to $6.8 billion, with free cash flow rising 14% to $5.2 billion. Medtronic returned $5.5 billion to shareholders in FY24 and increased its dividend to $0.70 per share quarterly. The company received several product approvals, including the Evolut™ FX+ TAVR system and Inceptiv™ closed-loop spinal cord stimulator. FY25 guidance includes 4-5% organic revenue growth and non-GAAP EPS of $5.40-$5.50.

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FAQ

What does Medtronic plc specialize in?

Medtronic specializes in developing and manufacturing therapeutic medical devices for chronic diseases, including pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools.

Where are Medtronic’s headquarters located?

Medtronic’s operational and executive headquarters are in Minneapolis, Minnesota, while its legal headquarters are in Dublin, Ireland, following its acquisition of Covidien in 2015.

How significant are Medtronic’s international sales?

International sales account for roughly 50% of Medtronic’s total revenue.

What recent advancements has Medtronic made in AI for healthcare?

Medtronic recently launched the ColonPRO™ software for the GI Genius™ intelligent endoscopy system, enhancing AI-driven polyp detection and procedural highlights. The company also partnered with Modernizing Medicine® to integrate AI data with EHR systems.

What are Medtronic’s recent financial achievements?

Medtronic reported a global revenue of $32.364 billion for fiscal year 2024, a 3.6% increase from the previous year, driven by growth in its Cardiovascular, Neuroscience, Medical Surgical, and Diabetes portfolios.

What new technology has Medtronic introduced for chronic pain treatment?

Medtronic introduced the Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS), which the U.S. FDA approved for the treatment of chronic pain.

How many employees does Medtronic have worldwide?

Medtronic has a global team of over 95,000 employees across 150 countries.

What is Medtronic’s mission?

Medtronic's mission is to alleviate pain, restore health, and extend life.

Where can I find more information about Medtronic?

For more information about Medtronic, visit their official website at Medtronic.com.

How does Medtronic approach innovation in healthcare?

Medtronic leverages its diverse knowledge, insatiable curiosity, and commitment to helping those in need to deliver innovative technologies that transform lives, focusing on engineering extraordinary healthcare solutions.

Medtronic plc

NYSE:MDT

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Electromedical and Electrotherapeutic Apparatus Manufacturing
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