Welcome to our dedicated page for Medtronic news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic stock.
Medtronic plc (MDT) is a global leader in medical technology, developing innovative healthcare solutions that address chronic diseases and complex conditions. This dedicated news hub provides investors and professionals with timely updates on the company's strategic initiatives, regulatory milestones, and technological breakthroughs.
Access authoritative information spanning earnings announcements, product approvals, partnership developments, and clinical trial outcomes. Our curated collection ensures you stay informed about MDT's advancements in cardiac care, neuromodulation, diabetes management, and surgical robotics.
Discover press releases detailing regulatory submissions, executive appointments, and global market expansions. Each update is verified for accuracy, offering insights into how Medtronic maintains its position at the forefront of medical innovation while navigating evolving healthcare landscapes.
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Medtronic reported its fiscal Q2 2023 results with revenues of $7.6 billion, a 3% decline and a 2% organic growth. GAAP EPS stood at $0.32, down 67%, while non-GAAP EPS was $1.30, down 2%. Key drivers included TAVR, Pacing, and International Diabetes, despite challenges from slower market procedure volumes and cost inflation. Guidance was updated to forecast a revenue growth of 3.5%-4% in the second half of the fiscal year, with expected non-GAAP EPS between $5.25 to $5.30.
Medtronic plc (NYSE:MDT) will report its financial results for Q2 FY2023 on November 22, 2022, with a news release at 5:45 a.m. CST. The report will provide summary financial information for the quarter ending October 28, 2022. A video webcast discussing the results will be held at 7:00 a.m. CST on the same day. Future earnings announcements are scheduled for February 21, 2023, and May 25, 2023. The company emphasizes its commitment to innovative healthcare solutions, addressing various health conditions globally.
Medtronic launched the Extended infusion set in the U.S., the first infusion set allowing up to 7-day wear for insulin pumps, reducing insulin waste and plastic usage. This innovation leads to annual cost savings of up to 25% on insulin and a 50% reduction in plastic waste. The extended wear time decreases the frequency of set changes by 50% and enhances comfort, addressing patient needs. The set is available for MiniMed 600 and 700 series pump users, aiming to ease diabetes management.
Ra Medical Systems (RMED) reported financial results for Q3 2022, highlighting a merger plan with Catheter Precision. This stock-for-stock reverse-merger aims to tap into the growing cardiac electrophysiology market. Company CEO Will McGuire cited $13.7 million in cash and an additional $7.4 million raised through their At-the-Market facility. They aim to meet NYSE listing requirements post-reverse stock split, with expectations to finalize the merger by early 2023. Catheter’s FDA-cleared product, VIVO™, targets ventricular arrhythmias, a significant unmet need in cardiac care.
Cloud DX (CDXFF) has partnered with Medtronic (MDT) and other organizations to develop a Continuous Connected Patient Care (CCPC) platform aimed at enhancing home care for discharged patients. The project, with a total investment of $12.8 million and $5.2 million in funding from the Digital Supercluster, is set to launch in 2024. The initiative includes a new vital sign monitoring device and aims to alleviate hospital capacity issues by allowing remote patient monitoring, particularly for those with chronic conditions.
On November 7, 2022, Medtronic (NYSE:MDT) presented six-month results from the SPYRAL HTN-ON MED clinical trial at the AHA Scientific Sessions 2022. The trial showed a significant reduction in office-based systolic blood pressure (OSBP) for patients treated with the Symplicity Spyral RDN System, but the primary endpoint of ambulatory systolic blood pressure (ABPM) reduction was not statistically significant. The company's PMA package has been submitted to the FDA for review. The study met its primary safety endpoint, demonstrating a low incidence of adverse events.
Medtronic has launched the Neurovascular Co-Lab™ Platform to enhance collaboration among start-ups, physicians, and institutions for stroke care innovation. This initiative aims to expedite the development of advanced technologies to benefit stroke patients globally. The platform will be operational by World Stroke Day, October 29, 2022, and is designed to facilitate the submission and funding of high-potential neurovascular innovations. Medtronic highlights the urgent need for improved stroke treatments, noting that millions remain untreated despite the availability of therapies.
Medtronic plc (NYSE:MDT) will participate in the CECP's 10th CEO Investor Forum at AdvaMed's 2022 MedTech Conference on October 25, 2022, in Boston, MA. CEO Geoff Martha will present at 3:30 p.m. CDT and answer questions.
A live webcast will be available on the same day via the Investor Events link on Medtronic's investor relations page, with a replay accessible within 24-48 hours.
Medtronic is a global leader in healthcare technology, dedicated to alleviating pain and restoring health through innovative solutions.
Medtronic plc (NYSE:MDT) has announced plans to separate its Patient Monitoring and Respiratory Interventions businesses into a new entity, referred to as NewCo. This strategic move aims to enhance operational focus and drive value creation for stakeholders. The separation is expected to be tax-free for U.S. shareholders and is anticipated to complete within 12 to 18 months, subject to regulatory approvals. NewCo will provide connected care solutions, leveraging its strong commercial footprint and wide-ranging product portfolio, which generated approximately $2.2 billion in revenue in fiscal 2022.
Medtronic (NYSE:MDT) announced significant approvals for its Hugo™ robotic-assisted surgery system, enhancing its market presence globally. The approvals include CE Mark clearance for general surgery in the EU, a license for laparoscopic surgery in Canada, and MHLW approval for urologic and gynecologic laparoscopic procedures in Japan. These milestones position Medtronic to access key markets, particularly in Japan, the third-largest robotic surgery market, and capitalize on the growth of minimally invasive procedures, which account for over 80% of global RAS procedures.
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