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Medtronic Inc.

6/19/2013, 3:45 AM ET

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Tuesday, June 18, 3:49 AM Medtronic's (MDT) controversial Infuse bone-growth implant for spine surgery is no better than a traditional operation, two independent analyses have found, with the rates of complication similar regardless of the treatment used. Infuse generated $528M in sales in the last fiscal year. Medtronic, which commissioned the studies, had been hit by accusations that doctors who had originally supported Infuse had financial ties to the company worth millions of dollars. 1 Comment [Healthcare]
Monday, June 10, 3:30 PM There is a "better than average chance" Edwards Lifesciences (EW +3.5%) will prevail in a German patent infringement case against Medtronic (MDT +0.1%), Canaccord (Buy) analyst Jason Mills says, adding that an injunction against MDT's CoreValue product "could propel" EW to $85/share. Separately, Credit Suisse upgrades EW to Outperform from Neutral. Comment! [Healthcare, On the Move]
Friday, May 31, 10:53 AM Wedbush initiates several medical equipment and supply names. Rundown: Boston Scientific (BSX +0.8%), which is "progressing with its turnaround story," is started at Neutral (price target $10) with new product intros serving as "catalysts for higher EPS"; Medtronic (MDT) is started at Neutral (price target $52) and is "an 800-lb. gorilla [facing] growing competition, limited near-term growth, and an overextended valuation"; St. Jude Medical (STJ -0.9%) is started at Outperform (price target $57) as the Durata overhang "is beginning to lose some steam enabling investors to refocus on STJ's healthy pipeline." 1 Comment [Healthcare]
Thursday, May 23, 7:24 AM Medtronic (MDT) announces regulatory approval for VIV procedures using CoreValve and CoreValve Evolut TAVI systems in degenerated bioprosthetic surgical aortic valves. It's the first-ever approval for VIV procedures, a minimally-invasive option for at-risk patients. Shares -1% premarket. Comment! [Healthcare]
Tuesday, May 21, 8:39 AM More on Medtronic's (MDT) FQ4: Revenues grow 5% Y/Y on a constant currency basis while non-GAAP EPS growth comes in at 11%. International revenue grows 7% Y/Y and accounts for 47% of total worldwide sales. CEO Omar Ishrak says the results underscore the company's commitment to "delivering consistent and dependable growth." By segment, the Cardiac and Vascular group saw revenues grow 5%, while sales rose 4% in the Resorative Therapies unit. MDT says it sees FY14 revenue grow of 3-4% and EPS of $3.80-$3.82 against consensus of 3.84. Shares +4.25% premarket. (PR) Comment! [Healthcare, Earnings, On the Move]
Tuesday, May 21, 7:20 AM Medtronic (MDT): Q1 EPS of $1.10 beats by $0.07. Revenue of $4.5B beats by $0.11B. 1 Comment [Earnings, Breaking News, Healthcare]
Tuesday, May 21, 12:05 AM Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX Comment! [Earnings]
Monday, May 20, 5:30 PM Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX Comment! [Earnings]
Friday, May 10, 4:33 PM Medtronic (MDT) says data presented at the Heart Rhythm Society's 34th Annual Scientific Sessions show its Lead Integrity Alert software detected pace/sense lead issues in non-MDT leads at a greater rate than standard impedance monitoring alone. The analysis, which focused on BSX's Endotak leads, shows that for every one Endotak pace/sense lead issue detected by impedance monitoring, the LIA software detected four cases that were missed. Comment! [Healthcare]
Monday, April 29, 3:59 PM Vascular specialists at Carolinas HealthCare System in Charlotte, North Carolina, and the Cleveland Clinic in Ohio perform the initial implants of a novel stent graft system from Medtronic (MDT +1%) as part of an FDA initiative designed to encourage more early-stage clinical research on new medical devices in the U.S. The implants are among the first to be performed under the agency's early feasibility pilot program, which includes a total of nine medical devices from different companies. Comment! [Healthcare]
Monday, April 22, 8:43 AM Arca Biopharma (ABIO) soars 35% premarket. The company says it will collaborate with Medtronic (MDT) on a Phase 2b clinical trial for Gencaro, ABIO's lead developmental drug for the treatment of cardiac rhythm disorders. Comment! [Healthcare, On the Move]
Thursday, April 11, 1:48 PM Medtronic (MDT +1.3%) moves up today after saying it's initiated enrollment of the first patient in its SubQStim II clinical trial which uses peripheral nerve stimulation, also known as subcutaneous nerve stimulation, to reduce chronic, intractable post-surgical back pain. Comment! [Healthcare, On the Move]
Tuesday, April 9, 3:03 PM Medtronic (MDT +1.1%) gains after saying it's released its CardioGuide Implant System, a real-time navigation system for pacemakers and defibrillators in the U.S. and Canada. The system helps physicians determine the most appropriate location for left-ventricular lead placement by generating 3-D images of the cardiac veins. Enhanced software for the system will be commercially available later this year that also analyzes the motion of select cardiac vessels on the left side of the heart. Comment! [Healthcare]
Monday, February 25, 1:51 PM Medtronic (MDT -0.3%) says the FDA has approved the 34mm and 38mm lengths of its Resolute Integrity drug-eluting stent for treating patients with diabetes. The new sizes will enable the treatment of long coronary lesions, which are generally considered to span more than 27mm, and are uniquely indicated for treating coronary artery disease in patients with diabetes, who commonly present with long lesions. Comment! [Healthcare]
Tuesday, February 19, 8:09 AM More on Medtronic (MDT) FQ3: net profit +5.7% to $988M; Sales breakdown: cardiac rhythm disease management -1% excluding currency fluctuations; spinal products -3%. Affirms 2013 guidance for EPS of $3.66-3.70 vs forecasts of $3.68 and revenue growth of 3-4% at constant currencies. Comment! [Healthcare, Earnings]
Tuesday, February 19, 7:30 AM Medtronic (MDT): FQ3 EPS of $0.93 beats by $0.02. Revenue of $4.03B (+3% Y/Y) in-line. (PR) Comment! [Earnings, Breaking News, Healthcare]

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