A summary of varied news instances highlights Medtronic Plc (MDT), its performance, financial results, and future prospects. Medtronic has been a topic of investor interest, with its stock seeing both rises and falls. MDT's shares have been purchased by Apollon Wealth Management LLC. Some reports suggest that the stock might be trading at a 20% discount.
Medtronic's Q3 2024 financial results, including a rise in Q1 earnings and margins, are public, and their FY24 guidance has been raised because of strong Q3 results. However, there have been concerns about their weak financial prospects. The company plans to announce its financial results for the third and fourth quarters of fiscal year 2024.
While MDT stock has moved, lagged behind, gained, and declined in the market, it still has a strong institutional backing with 85% ownership. Despite losing 23% over the last three years, the Medtronic stock still holds a dividend aristocrat status and announced cash dividends for Q3 and Q4 of the fiscal year 2024.
Meanwhile, Medtronic has made significant strides in product development. The FDA has approved the Inceptiv closed-loop spinal cord stimulator and the newest-generation Evolut Transcatheter Aortic Valve Replacement (TAVR) system for the treatment of symptomatic severe cases. However, there was a recall of SonarMed Airway sensors due to safety concerns.
On the executive front, the executive vice president & president of the cardiovascular and neuroscience division sold their shares. Its business activities also hint towards a massive turnaround.
Medtronic Plc MDT News Analytics from Tue, 22 Aug 2023 07:00:00 GMT to Tue, 07 May 2024 03:28:24 GMT - Rating -2 - Innovation 0 - Information 8 - Rumor -6
