96.20 +0.20 (0.21%)
After hours: 5:54PM EDT
Price Crosses Moving Average
|Bid||96.10 x 900|
|Ask||96.45 x 1100|
|Day's Range||94.91 - 98.14|
|52 Week Range||72.13 - 122.15|
|Beta (5Y Monthly)||0.70|
|PE Ratio (TTM)||23.94|
|Earnings Date||Aug 25, 2020|
|Forward Dividend & Yield||2.32 (2.39%)|
|Ex-Dividend Date||Jun 25, 2020|
|1y Target Est||112.87|
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
Medtronic (MDT) expands reach to diabetic patients by introducing the Guardian Connect CGM system's Android version post its FDA clearance.
Medtronic plc (MDT), the global leader in medical technology, today announced that it will participate in the Bernstein 36th Annual Strategic Decisions Conference, held virtually, on Friday, May 29, 2020. Geoff Martha, chief executive officer of Medtronic, will make a presentation and will answer questions about the company beginning at 9:00 a.m. EDT (8:00 a.m. CDT). Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world.
Companies In The News Are: MDT, BJ, SNPS, EXPE.
Medtronic plc (MDT), the global leader in medical technology, today announced U.S. Food and Drug Administration (FDA) approval for the Android™ version of its Guardian™ Connect continuous glucose monitoring (CGM) system. The Guardian Connect system is a standalone CGM system that alerts patients of potential high or low sensor glucose events up to 60 minutes in advance and provides confidence to people living with diabetes who worry about fluctuating glucose levels and dangerous low glucose events.
Medtronic (MDT) demonstrates weak fiscal fourth-quarter performances at CER, attributable to dismal show in all major business segments and geographies.
The coronavirus pandemic slammed Medtronic in its fiscal fourth quarter as the medical technology company posted a 26% sales decline and 62% slide in earnings — leading MDT stock to drop.
The global case tally for the coronavirus that causes COVID-19 passed 5 million on Thursday after the biggest one-day increase since the start of the outbreak, as a top U.S. scientist cautioned that people should not rely on a vaccine and the labor market continued to show massive job losses.
The medical device giant's Q4 revenue and earnings fell well short of expectations. Here's why.
Medtronic shares were falling Thursday after the medical device manufacturer reported fourth quarter results that missed estimates as revenue fell 26% year over year in the quarter. The Dublin-based company reported fourth quarter earnings of 58 cents per share on revenue of $6 billion. Medtronic shares fell more than 2% to $96.10 in trading on Thursday.
Medtronic (MDT) delivered earnings and revenue surprises of -1.69% and 1.20%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Medical device company Medtronic Plc said Thursday it had net income of $646 million, or 48 cents a share, in its fiscal fourth quarter to April 24, down from $1.172 billion, or 87 cents a share, in the year-earlier period. Adjusted per-share earnings came to 58 cents, below the 96 cents FactSet consensus. Revenue fell 26% to $6.0 billion, below the $6.9 billion FactSet consensus. The numbers were in line with an update provided by the company on April 21, which detailed the impact of the coronavirus pandemic on operations and financials. "Medtronic's results were also consistent with the impact felt across the MedTech industry from deferred procedures as a result of the pandemic," the Dublin-based company said in a statement. "Medtronic is in a strong financial position, as represented by the increase in its cash dividend announced today, and the company continues to drive its long-term strategies." The company's board approved an increase in the quarterly dividend to 58 cents from 54 cents. It is not offering guidance because of the uncertainty created by the pandemic. Shares fell 1.1% premarket and are down 14% in the year to date, while the S&P 500 has fallen 8%.
Medical device makers have borne the brunt of the coronavirus outbreak as federal and state guidelines ask for elective surgeries such as hip and knee replacements and certain heart procedures to be delayed, sapping the demand for devices used in the surgeries. The company expects a slow recovery in its restorative therapies unit, which houses neuro-stimulation implants to treat chronic pain, and heart device unit, which sells valves. "We currently expect first quarter revenue growth to be modestly worse than the fourth quarter," said Chief Financial Officer Karen Parkhill.
Medtronic plc (MDT) today announced financial results for its fourth quarter and fiscal year 2020, which ended April 24, 2020. Medtronic’s results were also consistent with the impact felt across the MedTech industry from deferred procedures as a result of the pandemic. Medtronic is in a strong financial position, as represented by the increase in its cash dividend announced today, and the company continues to drive its long-term strategies.
Medtronic's (MDT) new cannula will complement its entire portfolio of balloon kyphoplasty products, including Kyphon Xpander II Inflatable Bone Tamps.
DUBLIN, May 19, 2020 -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced the U.S. launch of Kyphon Assist™ Directional Cannula for use with.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Medtronic, Inc. New York, May 18, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Medtronic, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
During Friday's Mad Money program Jim Cramer told viewers that he was worried about earnings for Medtronic plc on Thursday. The daily On-Balance-Volume (OBV) line has improved slightly from late March but it is at least moving in the right direction. The weekly OBV line is still pointed down from January and the MACD oscillator is still bearish and not positioned yet for a cover shorts buy signal.
Medtronic plc (MDT), the global leader in medical technology, today announced Jeffrey J. Popma, M.D., professor of medicine at Harvard Medical School and director of interventional cardiology at Beth Israel Deaconess Medical Center in Boston, will join Medtronic as Vice President and Chief Medical Officer (CMO) supporting the Coronary, Renal Denervation, and Structural Heart businesses at Medtronic. As an academic interventional cardiologist for over two decades, Dr. Popma will provide medical leadership across Coronary, Renal Denervation, and Structural Heart, serve as a strategic advisor for cardiovascular device innovation, and assist in the development of an expanding clinical research portfolio, leveraging his deep expertise in interventional cardiology and transcatheter-based therapies.
Medtronic (MDT) might have registered lower demand for its emergency procedures in Q4 with patients trying to avoid any non-COVID-19 emergency treatment.
Health-care stocks that were popular in ESG funds tended to score better on ESG issues than other stocks in the sector in conventional funds, according to a study.
(Bloomberg) -- A group of state officials has an idea to expand the availability of ventilators and other equipment hospitals need to treat coronavirus patients: let more medical facilities fix the ones they have.In a letter to equipment manufacturers, the state treasurers of Pennsylvania, Colorado, Delaware, Illinois, and Rhode Island said hospitals sometimes had to wait longer than a week for technicians under their maintenance contracts to fix equipment. Manufacturers have refused to supply parts to anyone who hasn’t undergone the expensive company training.“In a global pandemic with this kind of urgency and this kind of devastation, where every second counts, there shouldn’t be a single ventilator in any hospital that can’t be used because of these restrictions,” Pennsylvania State Treasurer Joe Torsella said in an interview.Torsella led the group calling on manufacturers to release all repair manuals and service keys and to allow hospitals to use technicians of their choice instead of those required under maintenance contracts. The effort also turned a spotlight on an issue that some consumer rights groups are hoping could lead to a more permanent change.Twenty states are considering legislation that would give consumers more rights to repair, resell and modify products they buy, whether it’s more access to the software on John Deere farm tractors, going outside Apple Inc.’s “Genius Bar” to fix a broken iPhone, or selling digital books after they’ve been read. Some, but not all, also include provisions that would cover medical equipment, which are tightly regulated by the U.S. Food and Drug Administration.The pandemic may give the movement a boost because of the outcry over reports of broken or unavailable ventilators. In April, the U.S. Public Interest Research Group sent a petition with 43,000 signatures calling on manufacturers to release repair information.Hundreds of biomedical engineers, also known as biomeds, signed a letter to be released Monday by PIRG that calls for greater access to service materials and for making product-specific training “on fair and reasonable terms.”As the outbreak spread over the past month, some medical equipment makers such as Medtronic Plc and General Electric Co. agreed to turn over manuals and other information to ensure hospitals have what they need.The companies, along with Draegerwerk AG, sell medical equipment for as much as $1 million or more for each machine. Draegerwerk, which biomeds said has particularly strict rules, is projecting an increase in sales as hospitals need more devices to treat coronavirus patients. Even more profitable are the required service contracts to keep complicated equipment like ventilators, patient monitors, and MRI machines working.“We provide 24/7 technical support to the hospitals we supply as well as rapid on-site service,” said Marion Varec, a spokeswoman for Draegerwerk. “In fact, we provide manuals, to the extent consistent with FDA quality standards. We listen to our customers and support their needs.”Legislative proposals have been strongly fought by the industries affected, and the medical device industry has been among the most vocal. It’s trying to get Congress to pass legislation that would impose more stringent requirements on hospital and independent biomedical technicians, or biomeds. Instead, the U.S. Food and Drug Administration was told to investigate whether there was a difference in the quality of service -- the agency determined in 2018 that there was no fall off in quality of repairs when it was done by in-house hospital technicians or trained independent biomeds.Among those weighing in on behalf of the biomeds was the Defense Department, which called the profit margins on maintenance “astounding” and said the markup for parts could be more than 1000%.Leticia Reynolds, president of the Colorado Association of Biomedical Equipment Technicians and a member of the U.S. Army Reserve, said there’s a big difference in what you can do at military hospitals and at civilian ones.“In the military, you can work on pretty much anything,” said Reynolds. In the civilian sector, “If you haven’t been to their school, they say ‘We won’t help you,’ or ‘You can’t buy parts.”’The industry said its employees are held to a higher standard than those working for hospitals or with third-party repair firms, known collectively as independent servicing organizations, and its efforts were to put all technicians on the same level.“Currently, only servicing activities performed by medical device manufacturers are held to any quality, safety, or regulatory requirements by the FDA,” said Peter Weems, Director of Policy & Strategy at the Medical Imaging and Technology Alliance. Independent servicing organizations are not required to register with the FDA, report deaths or serious injuries, or adopt quality management systems.Some hospital officials are critical of the medical equipment industry.“It’s not about safety, it’s about maintaining a business advantage,” said Patrick Flaherty, vice president of supplier performance at Pittsburgh-based UPMC, a group of more than 40 hospitals, who called the manufacturers “monopolists and cartels.” “It’s absolutely repulsive if you try to cloak it under patient safety.”Hacking ThreatOthers say that the additional protections are needed with regard to complicated medical equipment -- especially as more systems become networked and vulnerable to hacking.“This is life-saving and life-sustaining equipment,” said Nick Lewis, systems director of environmental safety management and compliance at Baptist Memorial Health Care in Memphis, Tennessee. “Having tight controls -- whether that be passwords, or when they update software -- they have to be pretty tight with that stuff or we could potentially put ourselves at risk with cyber issues.”Amid a dire shortage of personal protective gear for doctors, nurses and other first responders through the country when the Covid-19 virus migrated from Asia and Europe, U.S. hospitals also found ventilators in short supply and some delivered from the National Stockpile broken. Hospitals and critical care facilities had to adapt other equipment, such as reconfiguring anesthesia machines and transport ventilators.Hospitals PreparedMassachusetts General Hospital sent a team to inspect and repair the entire contingent of ventilators the state received from the National Stockpile, knowing smaller hospitals wouldn’t have the trained technicians, said Paul Biddinger, director of emergency preparedness at the Boston hospital.“Early on, as we saw the coronavirus emerging as a threat, we tried very hard to anticipate what the impact on our system could be,” Biddinger said.At the Johnson Memorial Health in Johnson, Indiana, the hospital found powered air-purifying respirators needed by health-care professionals in the Covid unit that were so old there was no way to buy the connector hoses that pump fresh air, said marketing director Jeff Dutton.“Someone knew a small business in Franklin that had a 3D printer and was able to replicate the part perfectly,” Dutton said.Manufacturers initially kept to their long-standing policies when it came to access to manuals, software codes and parts. But as the scope of the crisis grew, many began easing restrictions, posting their closely kept service manuals on their websites, or dropping objections to having them posted on sites such as iFixit.com, which crowd sources manuals.It’s unknown whether they will try to pull them back once the pandemic is over. Jared Wilson, co-founder of Insight HTM LLC, which does repairs and maintenance at ambulatory surgical centers, said he is bizarrely “grateful” for the pandemic.“Typically we’re in what was the morgue, the bottommost corner of the hospital,” Wilson said. “This really has brought to light the issue of maintenance of equipment. We’ve been striving for this for so long.”Flaherty said the work being done at hospitals and critical care centers around the world spotlight that some of the rules are unnecessary.“If Covid did not create a learning platform for people, then it’s a missed opportunity,” Flaherty said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.