Get Stock Quote Here Medtronic is a medical device company headquartered in Dublin, Ireland. The operational headquarters is centered in Fridley, Minnesota, USA. Medtronic is the world's largest standalone medical technology development company. In 2015, at the time of its acquisition of Covidien, Medtronic's market cap was about $100 billion while the market cap for CRHF, Ireland’s largest indigenous business, was $18.4 billion. Medtronic operates in more than 140 countries. The company employs over 80,000 people and has more than 53,000 patents.
Medtronic: 3-Year CoreValve Data Positive in High Risk Study Medtronic plc (MDT) recently unveiled new three-year clinical outcomes from the high risk study of the CoreValve U.S. Pivotal Trial, at the 65th Annual Scientific Session & Expo of the American College of Cardiology (ACC.16). The study results demonstrate the superiority of Medtronic’s CoreValve transcatheter aortic valve replacement (TAVR) system over the standard surgical aortic valve replacement (SAVR), in high-risk aortic stenosis (AS) patients. We believe favorable results from this trial will further enhance Medtronic’s revenues from transcatheter valves, which of late, has grown in the low-thirties, on par with the market. Notably, AS occurs when the aortic valve in a patient’s heart narrows compared to its normal size. In such patients, a heart valve replacement is an ideal option. However, those at high risk of open surgery benefit more when implanted with a transcatheter heart valve (THV) such as Medtronic’s FDA-approved CoreValve system. In the aforementioned high risk study, 228 patients were implanted with Medtronic’s CoreValve; while SAVR was conducted on 179. Per the outcome, all-cause mortality rate for the TAVR patient cohort was 32.9%, lower than 39.1% in the SAVR patients. Stroke rate also remained lower at 12.6% for the TAVR patient cohort as against 19% in SAVR patients. Moreover, patients implanted with Medtronic’s CoreValve system exhibited lower rates of major adverse cardiovascular and cerebrovascular events (MACCE) compared to those who underwent SAVR – thereby demonstrating a more favorable safety profile in TAVR procedures over open heart surgeries. In addition, Medtronic also revealed results of a sub-study analysis of the high risk study involving AS patients with an STS Predicted Risk of Mortality estimate of less than 7%. Notably, an STS score is used to determine whether patients with severe AS should undergo SAVR or TAVR. The results from this sub-study demonstrated the superior survival benefit that CoreValve patients with lower STS mortality risk scores achieved over surgery patients; post a two-year follow up. In this sub-study, patients implanted with CoreValve also witnessed significantly better valve hemodynamics as well as improved quality of life compared to those who underwent surgery. We note that the TAVR procedure has lately emerged as a convenient and popular treatment option for severe AS patients who are practically inoperable. It is estimated that by 2050, 17% of the global population will be over the age of 65, thereby increasing the patient pool, that is people who are more prone to fall prey to AS. An increased number of physicians are gradually adopting Medtronic’s CoreValve portfolio as a suitable alternative for TAVR in high-risk surgery patients. Evidently, the CoreValve System has been implanted in more than 100,000 patients across over 60 countries, ever since it won CE Mark in 2007. At present, the global TAVR market is expected to reach a value worth $4 billion by 2020. Given this backdrop, we believe the aforementioned study results in favor of Medtronic’s CoreValve system will allow the company to capture a larger share of the global market potential. Meanwhile, heart valve pioneer Edwards Lifesciences Corp. (EW) has also released favorable PARTNER II study results at the same time as Medtronic’s aforementioned data. The PARTNER II trial clinical outcomes demonstrate the superiority of Edwards’ Sapien family of valves over open-heart surgery in intermediate risk AS patients. We believe the simultaneous news release from its biggest peer in the TAVR market will pose competitive challenges for Medtronic, going ahead. LINK - http://www.zacks.com/stock/news/212407/medtronic-3year-corevalve-data-positive-in-high-risk-study
Reported before open today (5/31/16) Earnings: EPS $1.27 Revenue $7.57B Estimates: EPS $1.26 Revenue $7.48B Down 1.44% today
Dividend Stock Spotlight: Medtronic (MDT) Wed, Oct 23, 2019 Every Tuesday, we update our Bespoke Stock Scores which ranks each of the stocks in the S&P 1500 based on a fundamental, technical, and sentiment score which are then aggregated for an overall score in order to help investors generate ideas for further analysis. One of the top stocks this week was Health Care Equipment and Services company Medtronic (MDT) with a total score of 77.17 (any total score over 70 is considered to be positive). Given a high fundamental score (over 95), the stock has a solid valuation versus its peers and the technicals are also looking good. Currently, MDT has pulled back to oversold levels within the context of its longer-term uptrend which has also given it a 'good' timing score in our Trend Analyzer. Having risen 1.2% in today's session, the stock has already begun to experience some mean reversion. Additionally, Medtronic (MDT) is attractive as a dividend stock. MDT currently yields 2.67%, which is larger than the average for not only the broader indices but also S&P 1500 Health Care stocks which average a much smaller yield of just 0.5%. MDT's dividend is comparable to the yields of some other major players within the sector like Merck (MRK) and Amgen (AMGN). One major difference, though, is that MDT has a longer history of growing its payout. MDT has also now raised its dividend every year for the past 42 years; earning it a spot amongst the Dividend Aristocrats. Although the payout ratio of 83.8% and net debt to EBITDA ratio of 1.76 have room for improvement, they do not point to any considerable concern over the company's ability to continue this dividend growth going forward. Given we are in the heart of earnings season, Medtronic's recent earnings history has been another bright spot. Not only has the company reported a triple play in each quarter of 2019, but the stock has seen a positive full day price reaction every quarter since May of 2018 (six consecutive quarters). MDT does not report for another month, but seasonality is on the stock's side to keep this streak going as the third quarter has historically seen the highest average full-day earnings gain, 1.06%, in response to earnings.
