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 develops and manufactures therapeutic medical devices and healthcare technology for chronic diseases and procedural care. Its news commonly covers regulatory clearances and CE marks, product launches, clinical data, acquisitions, and financial results across cardiovascular, cardiac rhythm management, cranial and spinal technologies, surgical navigation, robotics, and ablation systems.
Recent company updates include the Stealth AXiS™ surgical system for planning, navigation, and robotics; the Affera™ mapping and ablation system with Sphere-9™ and Sphere-360™ catheters; the OmniaSecure™ defibrillation lead; and the completed CathWorks acquisition, including the FFRangio® System for coronary artery disease assessment.
Medtronic (NYSE:MDT) has partnered with The Foundry to develop a cutting-edge transcatheter mitral valve repair technology, with the resulting company, Half Moon Medical, now ready for an early feasibility study, recently approved by the FDA.
This technology addresses severe mitral regurgitation, affecting about 4 million U.S. patients. The Half Moon device aims to restore valve function and could complement Medtronic's existing Intrepid valve system, enhancing their product portfolio in minimally invasive heart therapies.
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Medtronic (NYSE:MDT) announces the SMART trial, a head-to-head study of its Evolut™ TAVR system against Edwards' SAPIEN 3 valves for patients with severe symptomatic aortic stenosis. Enrolling 700 patients, it focuses on small annuli and TAV-in-SAV procedures, representing over 40% of the TAVR market. Additionally, Medtronic plans the Evolut™ EXPAND TAVR I feasibility study for moderate and asymptomatic severe aortic stenosis patients, targeting 150 participants. This aims to address a significant patient group, as over 2 million in the U.S. live with these conditions.
Medtronic recently highlighted its growth strategy during the virtual 2020 Investor Day, aiming for accelerated revenue growth and sustainable double-digit total shareholder returns. CEO Geoff Martha emphasized an industry-leading pipeline of innovative products, including the Micra™ AV pacing system and soft tissue surgical robot. Medtronic targets annual organic revenue growth of over 5% and adjusted earnings per share growth of over 8%. The company also expects to maintain a cash conversion ratio greater than 80%, aiming to return more than 50% of free cash flow to shareholders.
Medtronic has released its FY20 Integrated Performance Report, highlighting significant ESG initiatives. Key achievements include aiming for carbon neutrality by FY30 and achieving 100% gender pay equity in the U.S. The company reported a 36% reduction in greenhouse gas emissions compared to FY13 and set plans to cut emissions by 50% by FY25. The report reflects Medtronic's commitment to social responsibility, especially during COVID-19, where it increased ventilator production and donated $36 million to relief efforts.
Medtronic plc (NYSE:MDT) announced a donation of nearly $1 million in personal protective equipment (PPE) to the International Medical Corps to aid COVID-19 relief efforts in the U.S. and Puerto Rico. The donation includes over 1.1 million surgical masks and 408,000 KN95 respirators, targeting hospitals in COVID-19 hotspots. This support highlights Medtronic's commitment to frontline health workers and underserved communities during the pandemic, as recognized by various officials from both Medtronic and International Medical Corps.
Medtronic plc (NYSE:MDT) has launched the Adaptix™ Interbody System, the first navigated titanium implant featuring Titan nanoLOCK™ Surface Technology. This technology combines various surface textures to enhance strength and promote bone growth. Adaptix, which received FDA approval in August 2020, addresses surgeons' needs for improved spinal fusion outcomes. The system integrates with Medtronic's navigation platforms, facilitating accurate placement during surgery. The announcement was made at the North American Spine Society annual meeting, marking a significant step in Medtronic's commitment to advancing spine care.
Medtronic plc (NYSE:MDT) announced that Omar Ishrak will retire as Executive Chairman effective December 11, 2020. This marks the conclusion of the company's planned CEO succession. Geoff Martha, the current CEO since April 2020, will succeed Ishrak as Chairman. Ishrak has been with Medtronic since June 2011, serving as CEO until April 2020. Both leaders expressed confidence in the company's future and ongoing commitment to its mission in medical technology innovation.
Medtronic plc (NYSE:MDT) announced the first patient was implanted in its ELITE study of the InterStim™ Micro system, marking a significant milestone in rechargeable sacral neurostimulation (SNS) research. This is the only study encompassing SNS indications for overactive bladder, urinary urge incontinence, urinary frequency, non-obstructive urinary retention, and fecal incontinence. The study aims to enroll 160 subjects across various regions, providing crucial data on performance and safety over two years. The InterStim Micro is the smallest rechargeable SNS device with a 15-year lifespan and fast charging capabilities.
Medtronic plc (NYSE:MDT) will host its biennial Institutional Investor and Analyst Event virtually on October 14, 2020, from 8:00 a.m. to 2:00 p.m. EDT. The event will feature company leadership presenting strategies for revenue growth, innovation, and shareholder value creation. A live webcast will be available for all interested parties, and a replay will follow within 24 hours. Medtronic is a leader in medical technology, focused on improving healthcare globally.