Medtronic plc(MDT)- NYSE
  • Yesterday, 2:57 PM
    • The FDA approves Medtronic's (MDT +0.2%) MiniMed 670G, a hybrid closed loop glucose monitoring and basal insulin delivery system, for the maintenance treatment of type 1 diabetics at least 14 years old.
    • The 670G functions like an artificial pancreas, automatically adjusting insulin levels based on glucose measurements every five minutes, with little or no input from the user. It consists of a sensor that attaches to the body to measure glucose levels under the skin, an insulin pump strapped to the body and an infusion patch connected to the pump with a catheter that delivers insulin. Despite the automatic adjustment in basal insulin levels, the user still needs to manually request insulin doses (prandial) to counter the spike in blood sugar associated with meal consumption.
    • The approval requires the company to conduct a post-market study to better understand how the system works in real-world settings. Medtronic is currently performing trials investigating the use of the 670G in patients 7 - 13 years old.
    | Yesterday, 2:57 PM
  • Tue, Sep. 27, 9:36 AM
    | Tue, Sep. 27, 9:36 AM
  • Thu, Aug. 25, 7:24 AM
    • Medtronic (MDT -1.3%) FQ1 results: Revenues: $7,166M (-1.5%); Operating Income: $1,167M (+3.2%); Net Income: $929M (+13.3%); EPS: $0.66 (+15.8%); Non-GAAP EPS: $1.03 (+1.0%); Quick Assets: $3,060M (+6.4%); CF Ops: $1,550M (+90.0%).
    • FY2017 Guidance: Revenue growth: 5.0 - 6.0%; Non-GAAP EPS: $4.60 - 4.70.
    | Thu, Aug. 25, 7:24 AM
  • Thu, Aug. 25, 6:52 AM
    • Medtronic (NYSE:MDT): FQ1 EPS of $1.03 beats by $0.02.
    • Revenue of $7.17B (-1.4% Y/Y) in-line.
    • Shares +0.4% PM.
    • Press Release
    | Thu, Aug. 25, 6:52 AM
  • Wed, Aug. 24, 5:30 PM
    | Wed, Aug. 24, 5:30 PM | 10 Comments
  • Mon, Aug. 15, 10:06 AM
    • Triggered by the unveiling of Mazor Robotics' (MZOR -0.3%) Mazor X Surgical Assistance Platform, Medtronic (MDT +0.4%) invests an additional $20M in the Israeli robotic surgery products developer, raising its stake to 7.27%. Medtronic made an initial investment of $11.9M in May when the companies inked a deal granting Medtronic exclusive global distribution rights to Mazor's future spine products and established Mazor as Medtronic's exclusive strategic partner for the development and commercialization of robotic spine systems and applications.
    • Mazor currently markets the Renaissance guidance system used in spine surgery.
    • Previously: Mazor Robotics inks deal with Medtronic; shares up 23% premarket (May 18)
    | Mon, Aug. 15, 10:06 AM | 1 Comment
  • Tue, Aug. 2, 7:06 AM
    • July monthly performance was: +2.28%
    • AUM of $2.39B
    • 52-week performance vs. the S&P 500 is: +7%
    • No dividends were paid in July
    • Top 10 Holdings as of 6/30/2016: McCormick & Co Inc Non-Voting (MKC): 2.25805%, Cincinnati Financial Corp (CINF): 2.25221%, AT&T Inc (T): 2.2047%, C.R. Bard Inc (BCR): 2.20417%, Clorox Co (CLX): 2.19531%, Consolidated Edison Inc (ED): 2.18289%, Sysco Corp (SYY): 2.15335%, Medtronic PLC (MDT): 2.13378%, Cintas Corp (CTAS): 2.12501%, Kimberly-Clark Corp (KMB): 2.10475%
    | Tue, Aug. 2, 7:06 AM
  • Tue, Jul. 12, 9:53 AM
    • Mazor Robotics (MZOR) unveils its Mazor X, a new guidance system for spine surgeries. Commercial launch will commence at the North American Spine Society annual meeting in Boston in October.
    • Medtronic (MDT +0.2%) will co-promote Mazor X in the U.S. It has already placed an initial order for 15 devices. If all goes well, Medtronic will assume exclusive global distribution rights for Mazor's future spine products in 2018.
    • Previously: Mazor Robotics inks deal with Medtronic; shares up 23% premarket (May 18)
    | Tue, Jul. 12, 9:53 AM | 3 Comments
  • Mon, Jun. 27, 11:16 AM
    | Mon, Jun. 27, 11:16 AM | 83 Comments
  • Mon, Jun. 27, 7:37 AM
    • Medtronic (NYSE:MDT) will acquire HeartWare International (NASDAQ:HTWR) for $58 a share in cash for a total of $1.1B. The deal is expected to close no later than October.
    • HeartWare's flagship product is the HVAD System, the world's smallest full-support ventricular assist device (VAD). It also has multiple technologies in development designed to offer progressively less-invasive mechanical circulatory support options for patients with end-stage heart failure. According to Medtronic, the global VAD market is ~$800M with anticipated long-term high-single/low-double-digit growth.
    • Medtronic maintains its fiscal 2017 revenue and earnings guidance. The acquisition should be EPS accretive in year three. HeartWare will be part of its Cardiac Rhythm & Heart Failure unit within the Cardiac & Vascular Group.
    • HeartWare is up 91% premarket on increased volume.
    | Mon, Jun. 27, 7:37 AM | 2 Comments
  • Fri, Jun. 24, 10:25 AM
    • Intrepid biotech investors are, no doubt, seriously considering deploying some cash today in response to the (hopefully temporary) bearish reaction to the Brexit vote. Nasdaq is currently down 2.7%, the Dow 2.2% and the IBB 3.3%.
    • Representative tickers: (GILD -2.2%)(GSK -2.4%)(AZN -2.7%)(PFE -1.1%)(MRK -1.9%)(CELG -3.2%)(BMY -2%)(BIIB -2.4%)(AMGN -2.7%)(AGN -2.8%)(TEVA -0.8%)(ABT -3.4%)(MDT -1.4%)
    | Fri, Jun. 24, 10:25 AM | 85 Comments
  • Fri, Jun. 3, 8:17 AM
    • Ophthotech (NASDAQ:OPHT) upgraded to Overweight from Neutral by JPMorgan. Price target raised to $84 (45% upside) from $60.
    • Intuitive Surgical (NASDAQ:ISRG) downgraded to Neutral from Buy by Goldman Sachs. Price target raised to $674 (5% upside) from $633.
    • Celgene (NASDAQ:CELG) downgraded to Neutral from Buy by BTIG Research.
    • Medtronic (NYSE:MDT) downgraded to Neutral from Buy by BTIG Research. $82 price target removed.
    • Portola Pharmaceuticals (NASDAQ:PTLA) downgraded to Neutral from Outperform by Credit Suisse. Price target lowered to $30 (7% upside) from $33.
    | Fri, Jun. 3, 8:17 AM | 5 Comments
  • Tue, May 31, 9:51 AM
    • Medtronic (MDT) FQ4 results: Revenues: $7,567M (+3.6%); R&D Expense: $575M (+8.9%); SG&A: $2,360M (-1.8%); Operating Income: $1,506M (+303.8%); Net Income: $1,104M; EPS: $0.78; Non-GAAP EPS: $1.27 (+9.5%).
    • FY2016 results: Revenues: $28,833M (+42.3%); R&D Expense: $2,224M (+35.6%); SG&A: $9,469M (+37.2%); Operating Income: $5,291M (+40.5%); Net Income: $3,538M (+32.3%); EPS: $2.48 (+2.9%); Non-GAAP EPS: $4.37 (+2.1%); Quick Assets: $2,876M (-40.6%); CF Ops: $5,218M (+6.4%).
    • FY2017 Guidance: Revenue growth: 5.0 - 6.0%; Non-GAAP EPS: $4.60 - 4.70 (includes negative currency impact of $0.20 - 0.25).
    | Tue, May 31, 9:51 AM
  • Tue, May 31, 6:54 AM
    • Medtronic (NYSE:MDT): FQ4 EPS of $1.27 beats by $0.01.
    • Revenue of $7.57B (+3.7% Y/Y) beats by $80M.
    • Press Release
    | Tue, May 31, 6:54 AM | 1 Comment
  • Mon, May 30, 5:30 PM
    | Mon, May 30, 5:30 PM | 1 Comment
  • Wed, May 18, 8:42 AM
    • Smith & Nephew plc (NYSE:SNN) has agreed to sell its gynecology unit to Medtronic plc (NYSE:MDT) for $350M. The deal is expected to reduce SNN's 2016 non-GAAP EPS by less that $0.01 and be neutral in 2017.
    • SNN intends to buyback $300M in shares following the transaction.
    | Wed, May 18, 8:42 AM | 1 Comment