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Medtronic plc (MDT)

  • Dec. 17, 2012, 4:10 PM
    Medtronic (MDT) announces one-year results from its first randomized clinical trial investigating renal denervation showing patients who initially received treatment with the Symplicity renal denervation system sustained a significant drop in blood pressure compared to baseline at 12 months, plus no device-related serious adverse events, no late vascular complications, and no significant decline in kidney function.
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  • Nov. 26, 2012, 11:01 AM
    Boston Scientific (BSX +2.7%) bucks a down tape this morning on an upgrade to Buy at Citigroup. The firm says BSX is positioned to be the biggest winner from St. Jude Medical's (STJ -1%) Durata troubles. Citi expects it will be taken off the market within six months, and the ripple effects are likely to cost STJ around $820M in annual sales. BSX could easily take 41% of that market share, with Medtronic (MDT -0.9%) absorbing around 29%. Citi's upgrade differs widely from comments made on Friday by BofA Merrill, which put the risk of a Durata recall well below 50%.
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  • Nov. 20, 2012, 8:18 AM
    More on Medtronic (MDT) FQ2: net profit -26% to $871M, hurt by a one-time charge of $245M related to litigation in its structural heart ops, and $118M unfavorable impact from forex fluctuations. On a constant currency basis, total revenue +5%, international +8% to $1.81B, emerging market +18% to $464M. FY guidance: EPS of $3.62--3.70 vs consensus of $3.66; revenue to grow 3-4% on constant currency basis. (PR)
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  • Nov. 20, 2012, 7:24 AM
    Medtronic (MDT): FQ2 EPS of $0.88 in-line. Revenue of $4.1B (-0.9% Y/Y) in-line. (PR)
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  • Nov. 20, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: BBY, CHS, CPB, DSX, HNZ, HPQ, HRL, JKS, MDT, NM, NRGY, TSL
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  • Nov. 19, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: BBY, CHS, CPB, DSX, HNZ, HPQ, HRL, JKS, MDT, NM, NRGY, TSL
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  • Nov. 19, 2012, 3:56 PM
    As the appetite for waging war against Obamacare wanes, smaller fixes are starting to come into the limelight, and are becoming increasingly more realistic, as long as every minor issue doesn’t blow up into a full-scale battle. One small fight is now being picked by medical device companies, who are trying to use the debate to get ObamaCare's tax on medical devices repealed, and it appears that some Democrats may support that initiative.
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  • Nov. 19, 2012, 2:23 PM
    St. Jude Medical (STJ +2%) says its received European approval for its Portico heart valve replacement device. The approval gives STJ access to a burgeoning market for the devices, and the news gives a much-needed lift to the stock after a string of negative headlines in recent months has driven the stock down near 52-week lows. Since October alone, STJ has shaved nearly 17% off its market cap.
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  • Nov. 19, 2012, 8:57 AM
    Medtronic (MDT +0.8%) has apparently completed its $816M acquisition of China Kanghui Holdings (KH), a provider of orthopedic implants. "Kanghui brings Medtronic a broad product portfolio, a strong local research & development and manufacturing operation, (and) a vast China distribution network," says Medtronic's Chris O'Connell.
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  • Nov. 14, 2012, 9:59 AM
    Obamacare is set to "take a toll" on medical-equipment companies due to a "stealth tax" on medical devices, says Tom Lydon of ETF Trends. A number of companies in the sector are planning pre-emptive layoffs in anticipation of the tax, including Medtronic (MDT) and St. Jude (STJ). Other companies in the field include [[J&J]], ISRG and BSX. ETFs worth watching include IYH, XLV, IHI and XHE.
  • Nov. 13, 2012, 3:18 PM
    Edwards Lifesciences(EW +1.7%) says a U.S. Appeals Court has affirmed a 2010 federal jury decision that Medtronic (MDT +0.3%) is infringing the company's U.S. Andersen transcatheter heart valve patent, as well as an initial payment award to EW of $74M. The court also ordered the trial court to reconsider EW's request for a permanent injunction that would prohibit the sale of Medtronic's CoreValve system in the U.S.
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  • Nov. 6, 2012, 7:38 PM
    Medtronic (MDT) announces interim findings from clinical trials which show that biventricular pacing may offer a significant advantage and improved patient outcomes over conventional right ventricular pacing among pacemaker patients. The findings were presented as a late-breaking clinical trial at the American Heart Association's 2012 Scientific Sessions, and show a 27% relative risk reduction in the composite of death and healthcare utilization visits among patients requiring intravenous heart failure therapy.
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  • Nov. 5, 2012, 9:39 AM
    Bypass surgery is more effective than drug-coated stents in preventing heart attacks and deaths in diabetics with more than one diseased artery, a five-year study shows. However, there were more strokes among bypass patients. Still, the data could lead to changes in treatment recommendations for thousands of people, hurting the profits of stent makers such as Abbott Labs (ABT -0.3%), Boston Scientific (BSX) and Medtronic (MDT -0.2%).
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  • Oct. 25, 2012, 3:48 AM
    The integrity of research into Medtronic's (MDT) bone-growth protein Infuse, which is used in spine surgery, has been called into question by a Senate Finance Committee report that says the company was "heavily involved in drafting, editing and shaping the content of medical journal articles" about the product. Medtronics also paid $210M for unrelated work to the doctors who wrote the articles.
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  • Oct. 22, 2012, 9:48 AM
    Medtronic's (MDT +0.2%) CoreValve heart implant increased 1-year survival rates amongst patients in a study and it improved their quality of life. Separately, a trial of the company's Symplicity renal denervation treatment helped reduce blood pressure in patients with "treatment-resistant hypertension," who have a high risk of "various cardiovascular events."
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  • Oct. 3, 2012, 2:12 PM
    Medtronic (MDT +0.3%) says it's successfully completed the first phase of feasibility studies on its next-generation renal denervation system, which features a simultaneously firing multi-electrode catheter and advanced radio-frequency generator. A total of nine patients were treated with a 100% acute success rate in accessing the vessels and delivering therapy. The system is only in its investigational phase however, and isn't yet commercially available anywhere in the world.
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Company Description
Medtronic PLC is engaged in providing medical technology alleviating pain, restoring health, and extending life of people. It currently functions in three operating segments that manufacture and sell device-based medical therapies.