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.
Medtronic plc (NYSE: MDT) announced a cash dividend of $0.58 per share for the third quarter of fiscal year 2021, approved by the board on December 11, 2020. This follows the dividend announcement made in June 2020, and is consistent with Medtronic's history as a member of the S&P 500 Dividend Aristocrats index, having raised its annual dividend for 43 consecutive years. The dividend will be payable on January 15, 2021, to shareholders of record as of December 22, 2020.
Medtronic plc (NYSE:MDT) has launched the Carpediem™ Cardio-Renal Pediatric Dialysis Emergency Machine in the U.S. following FDA marketing authorization. This innovative system, designed specifically for patients weighing 2.5 to 10 kilograms, addresses the critical needs of young patients with acute kidney injury or fluid overload, providing safer and more effective hemodialysis. The first units are now in use at Cincinnati Children's Hospital Medical Center, enhancing the treatment options for neonates, who face a high mortality rate from kidney injuries.
Medtronic plc (NYSE:MDT) announced its participation in the Evercore ISI 3rd Annual HealthCONx Conference, scheduled for December 3, 2020. Mike Weinstein, SVP of Strategy, will address questions starting at 8:50 a.m. EST. A live audio webcast will be accessible via the Investors Events link on Medtronic's investor relations website, with an archived replay available later the same day. Medtronic, headquartered in Dublin, Ireland, is a leading global medical technology company, employing over 90,000 individuals and serving patients in more than 150 countries.
Medtronic plc (NYSE:MDT), a leader in medical technology, will participate virtually in the Piper Sandler 32nd Annual Healthcare Conference on December 2, 2020. Mike Coyle, Executive Vice President and President of the Cardiovascular Portfolio, will address inquiries starting at 10:30 a.m. EST. A live audio webcast of the session will be accessible through the Investors Events link on Medtronic's investor relations website, with an archived playback available later. Medtronic focuses on advancing healthcare worldwide, employing over 90,000 people across more than 150 countries.
Medtronic has announced an additional $3.8 million commitment to support healthcare workers and communities during the COVID-19 pandemic, raising its total relief efforts to more than $46 million. This initiative focuses on emergency food assistance, mental health support, and PPE donations, including over 400,000 masks. The Medtronic Foundation will also provide $1.6 million in grants to nonprofits assisting low-income communities. CEO Noel Colón emphasized the importance of this support for frontline workers and underserved populations.
Medtronic plc (NYSE:MDT) reported its Q2 fiscal year 2021 results, with revenue of $7.6 billion, marking a decrease of 0.8% reported and 1.5% organically. The company's GAAP EPS was $0.36, while non-GAAP EPS was $1.02, both down 22%. U.S. revenues fell 2% while non-U.S. developed market revenue increased 6%. The Cardiac and Vascular Group and Diabetes Group faced declines of 5.5% and 5%, respectively, though the Minimally Invasive Therapies Group saw a 6.2% organic increase. The company refrained from providing future guidance due to ongoing COVID-19 uncertainties.
Medtronic plc (NYSE:MDT) plans to announce its financial results for Q2 FY2021 on November 24, 2020, at 5:45 a.m. CST. The announcement will include key financial metrics for the quarter ending October 30, 2020. A webcast discussing these results will be held at 7:00 a.m. CST on the same day. Medtronic also scheduled to report FY2021 Q3 and Q4 results on February 23, 2021, and May 27, 2021, respectively. Investors are encouraged to visit their website for updates.
Medtronic (NYSE:MDT) announced that the STOP AF First trial results, published in the New England Journal of Medicine, show that cryoablation with the Arctic Front™ Advance Cardiac Cryoballoon significantly outperforms antiarrhythmic drug therapy for treating paroxysmal atrial fibrillation (PAF). At 12 months, 75% of patients receiving cryoablation remained free from atrial arrhythmia compared to 45% in the drug therapy group (P<0.001). The trial demonstrated low complication rates (1.9%) and improvements in quality of life (P<0.01). This evidence supports cryoablation's use as a first-line treatment for symptomatic PAF.
Medtronic has successfully completed its friendly tender offer for Medicrea International, acquiring over 90% of its share capital at €7.00 per share. This acquisition, which marks Medtronic's seventh in 2020, enhances its position in AI and predictive analytics in spinal surgery. Medicrea's innovative UNiD™ ASI platform promises improved surgical outcomes and personalized care. The deal positions Medtronic as a leader in AI-driven spinal technologies, aiming to reduce variability in surgical procedures and enhance patient care.
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