Medtronic Stock Price, News & Analysis

BetterInvesting Magazine has designated Medtronic PLC (NYSE: MDT) as its 'Stock to Study' and D.R. Horton Inc. (NYSE: DHI) as its 'Undervalued Stock' for the November 2021 issue. This announcement underscores the importance of self-guided investment education, especially in light of recent Social Security discussions. CEO Ken Zendel emphasizes the need for individuals to take charge of their financial futures. The selections aim to assist investors in making informed decisions. More information can be found through BetterInvesting's online tools.

Medtronic (NYSE: MDT) announced FDA approval for its Evolut™ FX transcatheter aortic valve replacement (TAVR) system on August 24, 2021. This advanced device aims to improve ease-of-use and precision for patients suffering from symptomatic severe aortic stenosis. The Evolut FX system maintains superior hemodynamic performance and offers new features for enhanced visualization during procedures. Plans for limited commercial release in fall 2021 and a full launch in early 2022 highlight its market potential.

Medtronic plc (NYSE: MDT) reported Q1 fiscal 2022 results with revenue of $8.0 billion, a 23% increase year-over-year. GAAP diluted EPS was $0.56, up 56%, while non-GAAP diluted EPS rose 127% to $1.41. U.S. revenue grew 22% to $4.1 billion, comprising 51% of total revenue. The company reiterated its FY22 revenue guidance at approximately 9% growth and raised its EPS forecast by $0.05 to a range of $5.65 to $5.75. Medtronic highlighted significant growth in several divisions, including Surgical Innovations and Cardiovascular, indicating a strong recovery from COVID-19 impacts.

On August 20, 2021, Medtronic plc (NYSE: MDT) announced a cash dividend of $0.63 per ordinary share for Q2 of fiscal year 2022, reflecting a 9% increase from the previous year. This marks the company's 44th consecutive year of dividend increases, solidifying its status as a constituent of the S&P 500 Dividend Aristocrats index. The dividend is set to be paid on October 15, 2021, to shareholders recorded by September 24, 2021.

Medtronic plc (NYSE:MDT) will report its financial results for the first quarter of fiscal year 2022 on August 24, 2021, at 5:45 a.m. CDT. This announcement follows the quarter ending on July 30, 2021. A video webcast discussing the results will be held the same day at 7:00 a.m. CDT. The company also plans to report future quarterly results on November 23, 2021, February 22, 2022, and May 26, 2022. For further details, access Medtronic's newsroom.

Medtronic has announced a definitive agreement to acquire Intersect ENT for $28.25 per share in an all-cash deal, totaling approximately $1.1 billion. This acquisition aims to enhance Medtronic's portfolio in ear, nose, and throat procedures. Intersect's products, including the PROPEL^® and SINUVA^® implants, will complement Medtronic's existing offerings, facilitating better treatment for patients with chronic rhinosinusitis (CRS). The deal is expected to close by the end of Medtronic's fiscal year, pending regulatory approvals and stockholder consent.

Medtronic plc (NYSE: MDT) has received FDA clearance for two AccuRhythm AI algorithms to enhance the LINQ II insertable cardiac monitor's diagnostic accuracy. These algorithms focus on reducing false alerts for atrial fibrillation and asystole, achieving significant improvements with a 74.1% reduction in false AF alerts and a 97.4% reduction in false pause alerts. The algorithms will be available on the CareLink Network later this year. This innovation is expected to support better patient management and improve clinical efficiencies for healthcare providers.

Medtronic plc (NYSE: MDT) released data from the WRAP-IT study, showing an 82% reduction in major infections for patients with hematomas following cardiac implants when using the TYRX Absorbable Antibacterial Envelope. The study involved 6,800 patients, highlighting a 2.2% hematoma incidence consistent across groups. The findings indicate that hematomas significantly increase infection risks, with implications for 1.5 million annual CIED recipients worldwide. Medtronic aims to mitigate these risks through the envelope, which is designed to release antibacterial agents and stabilize devices post-implantation.