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 (NYSE: MDT) is a Galway, Ireland-based healthcare technology company whose news flow reflects its broad activity in medical devices, diabetes technology, surgical robotics, and cardiovascular therapies. Company announcements frequently highlight regulatory milestones, clinical evidence, product launches, capital markets activity, and corporate governance developments that matter to investors and healthcare professionals following MDT stock.
Recent news has featured U.S. Food and Drug Administration clearances for key technologies, including the Hugo robotic-assisted surgery (RAS) system for urologic procedures and the MiniMed Go Smart Multiple Daily Injection (MDI) system, which connects the InPen smart insulin pen and the Instinct sensor made by Abbott through the MiniMed Go app. Medtronic has also reported on the broad U.S. commercial launch of the MiniMed 780G automated insulin delivery system integrated with the Instinct sensor, expanding its diabetes technology ecosystem.
Investors can also track Medtronic’s cardiovascular and hypertension-related developments, such as the final National Coverage Determination from the U.S. Centers for Medicare & Medicaid Services for the Symplicity Spyral renal denervation system, and updates on growth drivers like pulsed field ablation and other cardiovascular therapies discussed in earnings releases. Financial news includes quarterly earnings reports, guidance updates, dividend declarations, and details of senior notes offerings and redemptions.
This MDT news page aggregates coverage of topics including diabetes business developments (such as the planned MiniMed IPO registration), conference presentations, leadership and board changes, and major clinical or reimbursement milestones. Readers interested in Medtronic’s role in chronic disease management, minimally invasive surgery, and global healthcare technology can use this page to follow ongoing announcements and review the company’s evolving strategic priorities over time.
Medtronic plc (NYSE:MDT) announced its participation in several September 2022 investor conferences, enhancing its commitment to engage with investors and stakeholders. Key events include the Wells Fargo 2022 Healthcare Conference on September 7, featuring CFO Karen Parkhill; the Morgan Stanley 20th Annual Global Healthcare Conference on September 12 with CEO Geoff Martha; and the Bank of America Global Healthcare Conference on September 15, led by Rob ten Hoedt. Live webcasts of these sessions will be accessible on the company’s investor relations website.
Medtronic (NYSE:MDT) announced successful results from the ADAPT study, published in The Lancet Diabetes & Endocrinology. The study highlighted a 1.4% reduction in HbA1c and a 27.6% increase in Time in Range for users of the MiniMed 780G system compared to standard care (MDI + isCGM). Of participants using the MiniMed system, 27.8% achieved HbA1c below 7%, while none achieved this with standard care. The study indicates significant improvements in glucose control and patient satisfaction, reinforcing the adoption of insulin pump therapy for better diabetes management.
Medtronic plc (NYSE:MDT) has announced a strategic partnership with BioIntelliSense for exclusive U.S. distribution rights of the BioButton® wearable device. This partnership aims to enhance patient monitoring by providing up to 1,440 daily vital sign measurements, facilitating continuous remote monitoring from hospital to home. The collaboration addresses staffing shortages in healthcare and supports workflow automation for clinicians. With the BioButton integrated into Medtronic's HealthCast™ portfolio, the goal is to improve patient safety and enable proactive clinical interventions.
Medtronic plc (NYSE:MDT) has finalized its acquisition of Affera, Inc., enhancing its cardiac ablation portfolio with a new cardiac mapping and navigation platform. This acquisition introduces the Affera Prism-1™ system, compatible with various therapeutic catheters, aimed at treating cardiac arrhythmias, particularly atrial fibrillation (AF). The acquisition is expected to be less than 1% dilutive to adjusted earnings per share in the first three years, with anticipated impacts of 3 to 4 cents in fiscal year 2023, 5 cents in fiscal year 2024, and 4 cents in fiscal year 2025.
Medtronic (NYSE: MDT) announced positive results from its global clinical trial for the investigational EV ICD™ System, achieving a defibrillation success rate of 98.7% and exceeding safety endpoints. The study, revealed at ESC Congress 2022, showed that the device's effectiveness surpassed the prespecified performance goal of 88%. The EV ICD is designed to treat fast heart rhythms while minimizing risks linked to traditional ICDs. With 92.6% of patients free from major complications at six months, the findings suggest significant potential for this innovative technology in cardiac care.
Medtronic plc (NYSE:MDT) reported its Q1 FY23 results, revealing a revenue of $7.371 billion, down 8% year-over-year but above expectations. GAAP diluted EPS rose 25% to $0.70, while non-GAAP EPS fell 17% to $1.13. Key areas of strength included U.S. Pacing, Cardiac Surgery, and European Diabetes. Supply chain challenges and unfavorable year-over-year comparisons impacted results. The company continues to anticipate organic revenue growth of 4%-5% for FY23 and reiterated its guidance for diluted non-GAAP EPS of $5.53-$5.65.
Medtronic's board has approved a cash dividend of $0.68 per share for Q2 of fiscal year 2023, marking an 8% increase from the previous year. This dividend continues Medtronic's history as a member of the S&P 500 Dividend Aristocrats, having increased its dividend for 45 consecutive years. The dividend is set to be paid on October 14, 2022, to shareholders on record by September 23, 2022.
Medtronic plc (NYSE:MDT) will announce its financial results for the first quarter of fiscal year 2023 on August 23, 2022. The results will cover the period ending July 29, 2022, with a press release scheduled for 5:45 a.m. CDT. A video webcast discussing these results will follow at 7:00 a.m. CDT the same day. Future earnings reports are planned for November 22, 2022, February 21, 2023, and May 25, 2023.
Medtronic (NYSE:MDT) announces the expansion of its Health Equity Assistance Program for colon cancer screening, increasing the number of GI Genius™ units from 50 to 133 for underserved communities. The program aims to enhance screening access, starting with Grady Memorial Hospital in Atlanta, which serves a predominantly Black population. With a significant cancer burden in this community, the initiative hopes to improve early detection rates through advanced technology, further supported by Amazon Web Services.
Medtronic has secured FDA 510(k) clearance for its UNiD™ Spine Analyzer v4.0, which introduces a new Degen Algorithm for degenerative spine procedures. This innovative tool utilizes machine learning to aid surgeons in planning and personalizing surgeries, predicting post-operative spinal alignment six months post-surgery. The platform also features enhancements for both pediatric and adult deformity algorithms. Medtronic is the first to offer FDA-cleared predictive models for spine surgery, aiming to improve surgical outcomes significantly.