Medtronic Stock Price, News & Analysis

Medtronic's CFO, Karen Parkhill, highlighted significant strides in gender representation and pay equity within the company during her tenure. By 2022, women constituted 51% of the workforce, with 43% in management and 36% on the board. Parkhill is dedicated to elevating women's roles in the medical device industry and supports Medtronic's international pay equity efforts, achieving 100% gender pay equity in the U.S. and 99% globally. Her experience spans major financial institutions, with a focus on transforming the finance function at Medtronic to enhance patient care. Parkhill's commitment to inclusion and diversity aims to reshape corporate culture for future growth.

Medtronic plc (NYSE: MDT) announced the pricing of a $2 billion offering of senior notes through its subsidiary Medtronic Global Holdings S.C.A. The offering consists of $1 billion of 4.25% senior notes due in 2028 and $1 billion of 4.50% senior notes due in 2033. Proceeds from the offering will primarily be used to repay existing debt, including a portion of Medtronic Luxco's yen-denominated term loan, alongside general corporate purposes. The offering is expected to close on March 30, 2023, subject to standard conditions, and is managed by Barclays Capital Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC.

Medtronic highlights the journey of Mira Sahney, president of the company's Pelvic Health business, emphasizing her dedication to enhancing health care access and supporting women in STEM fields.

Sahney's background includes engineering roles in military aircraft, CEO of a startup, and co-founder of a neuro-robotics firm. She aims to mainstream the company’s InterStim therapy for bladder and bowel control, which affects millions yet remains stigmatized.

The Pelvic Health Operating Unit recently initiated a study on a new implantable tibial neuromodulation therapy, potentially lowering care costs and improving patient access.

Medtronic (NYSE: MDT) has announced a strategic collaboration with Cosmo Pharmaceuticals and NVIDIA to launch the GI Genius™ AI Access™ platform, designed to enhance AI innovation in healthcare. This platform will incorporate NVIDIA's AI technologies into the GI Genius™ intelligent endoscopy module, the first FDA-cleared AI-assisted colonoscopy tool. The initiative aims to host multiple AI algorithms and facilitate third-party developers in creating real-time AI applications to improve patient outcomes. This announcement coincides with the inaugural GI Genius™ summit hosted in Minneapolis, showcasing advancements in AI for gastrointestinal procedures.

Medtronic announced its commitment to the Science Based Targets initiative (SBTi), joining over 4,600 organizations aiming to achieve carbon neutrality. The SBTi guides companies in setting science-based emissions reduction targets in line with climate science. Medtronic aims for operational carbon neutrality by FY30 and net-zero emissions across all scopes by FY45. This formal commitment emphasizes the company's dedication to reducing its carbon footprint and addressing climate change risks. Targets will be validated by SBTi within 24 months, marking a significant step in Medtronic's sustainability journey.

Medtronic (NYSE:MDT) received CE Mark approval for its Affera Mapping and Ablation System, featuring the Sphere-9 Catheter, on March 15, 2023. This innovative system integrates pulsed field ablation, radiofrequency, and high-density mapping technologies, aimed at treating atrial arrhythmias, including atrial fibrillation (AFib), which affects nearly 60 million globally. The Sphere-9 Catheter allows for efficient procedure times by requiring fewer ablation applications. The product is set to be commercially available in Europe in the first half of 2023, while it remains investigational in the U.S.

Medtronic celebrates International Women's Day by promoting its Advanced Pathways & Skill Building (MAPS) program, aimed at supporting employee education and career growth. The MAPS initiative offers 100% tuition coverage for eligible employees in the U.S. and Puerto Rico, allowing them to pursue their undergraduate degrees without upfront costs. Anaisa Rojas Brache, a manufacturing operator, shares her journey from the Dominican Republic to a leadership role at Medtronic, enabled by this program. Statistics highlight that while women make up 48% of entry-level hires, only 38% reach first-level management, underscoring the need for initiatives like MAPS to foster gender equity.

Medtronic (NYSE: MDT) announced that its PulseSelect™ Pulsed Field Ablation (PFA) System achieved significant results in the PULSED AF clinical study. With an adverse event rate of just 0.7%, it surpassed safety performance goals, marking one of the lowest rates in FDA investigational trials for atrial fibrillation (AF). The trial, involving 300 patients across 41 sites in nine countries, demonstrated a clinical success rate exceeding 80% for both paroxysmal and persistent AF. The study's results were presented at the American College of Cardiology session and published in Circulation, highlighting the PulseSelect System as a promising new treatment option for AF.