Medtronic plc(MDT)- NYSE
  • Today, 9:36 AM
    | Today, 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
  • Wed, May 18, 8:13 AM
    • Thinly traded micro cap Mazor Robotics (NASDAQ:MZOR) jumps 23% premarket on light volume in response to its announcement that it has entered into a commercial agreement with Medtronic plc (NYSE:MDT) for the co-promotion, co-development and potential global distribution of certain Mazor products. In a separate agreement, Medtronic has agreed to make an equity investment in the company.
    • The commercial deal specifies an initial U.S.-based co-promotion phase. If both companies achieve their respective milestones by the end of 2017, then Medtronic will assume exclusive global sales and distribution rights for Mazor's future spine products, of which Medtronic has committed to buy 15 before the end of this year. The agreement also specifies that Mazor will be Medtronic's sole strategic partner for the development and commercialization of robotic spine systems and applications.
    • Medtronic will make an initial $11.9M equity investment in Mazor representing a 4% stake at a price per share equal to the trailing 20-day volume-weighted average price. If Mazor achieves certain operational milestones, Medtronic will invest an additional 6%. If other conditions are met, including the commencement of the Global Distribution Agreement, Medtronic will increase its investment a further 5%. Medtronic, at its sole discretion, may cap the second and third tranches at $20M each.
    • Mazor's lead product is Renaissance, a guidance system used by surgeons in spine surgery.
    • Mazor will host a conference call this morning at 10:00 am ET to discuss the deal.
    | Wed, May 18, 8:13 AM | 1 Comment