Latest news with #Affera
Yahoo
21-05-2025
- Business
- Yahoo
Medtronic to Separate Diabetes Business
Medical-device maker Medtronic plans to separate its diabetes business into a stand-alone company, the company said, in a move that hives off a division that had struggled but recently returned to growth. Under Medtronic's plan, the new unnamed company will also be publicly traded, Medtronic said. The diabetes business generated nearly $2.8 billion in sales in its most recent fiscal year, ending in April, up 10.7% from the prior year. Medtronic reported more than $34 billion in sales last year. How Two CEOs Mixed Romance and Business, Leading to Scandal Senators Question Shari Redstone Over Efforts to Reach CBS Settlement With Trump Watch Me Try Google's Live Language Translator. It's Wild. It Moved the 'Eras' Tour's Equipment. Now It's Worth Over $1 Billion. Ford Poured Billions Into Two EV Battery Plants. It's Only Using Part of One. Galway, Ireland-based Medtronic, which operates out of Minneapolis, will complete the process of separation within 18 months. The transaction will allow the diabetes business to grow faster, and for Medtronic to accelerate growth of its remaining divisions, Medtronic Chief Executive Geoff Martha said in an interview. 'To realize the full potential of what we're sitting on here, it's going to need more focus than we can provide, and more investment,' he said. By getting out of diabetes, Medtronic, one of the world's largest makers of medical devices, will be free to focus on its more-profitable segments making devices for cardiovascular, neuroscience and medical surgery. 'These are higher-margin markets than the diabetes space and they better leverage our core strengths as a company,' Martha said. That includes its new PulseSelect and Affera products, which use one of the hottest technologies in the industry, that administers bursts of electricity or pulsed-field ablation, to treat irregular heartbeats in patients. It also sells Symplicity Spyral, a device to treat hypertension. Medtronic's diabetes products are sold directly to patients and consist of wearable and disposable devices. The rest of Medtronic sells more complex devices such as surgical instruments and implants commercially to physicians and hospitals. The separation caps a yearslong campaign by Medtronic to turn around its diabetes franchise since it got a warning letter from the Food and Drug Administration in 2021 regarding product safety issues for its MiniMed insulin pumps. The letter delayed the FDA's clearance of the MiniMed 780G insulin pump until 2023. The company has rolled out other new products, and this year reported the fifth consecutive quarter of double-digit growth in its diabetes division. Diabetes products include its MiniMed insulin pump, which is part of a system that automatically delivers insulin to patients based on real-time monitoring of their blood sugar levels, and pens that connect with smartphones to help patients take timely insulin injections. Among the division's devices in the works are next-generation insulin pumps and smart pens. The company also joined with Abbott in 2024 to develop a glucose sensor that will work with Medtronic's products. The new company will have 8,000 employees and be based in Northridge, Calif., where the diabetes business is located, Medtronic said. It will be led by Que Dallara, head of Medtronic's diabetes business since joining in 2022. Medtronic's shares are up more than 7% this year. Company stock has risen more than 2% in the past year. Shares were up slightly in premarket trading Wednesday. Write to Jared S. Hopkins at Google Takes Aim at AI Firms Challenging Its Search Dominance Kraft Heinz Is Evaluating Strategic Transactions Tesla Sets Record With $139 Million Pay Package for Finance Chief UnitedHealth Built a Giant. Now Its Model Is Faltering. Why Disney's 'Lilo & Stitch' Is Set to Beat 'Mission: Impossible' at the Box Office Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
28-04-2025
- Health
- Business Insider
Medtronic announces outcomes from two studies in AFib patients
Medtronic (MDT) announced positive clinical outcomes from two studies in atrial fibrillation, AFib, patients treated with the Affera family of technologies, including the next-generation Sphere-360 single-shot pulsed field ablation catheter and the groundbreaking Sphere-9 combination mapping and dual-energy focal PFA catheter. Data were presented in High Impact Science Sessions at the Heart Rhythm Society 2025 Annual Meeting in San Diego; the Sphere-360 study was simultaneously published in the Heart Rhythm Journal. The company said; One-year clinical trial data for the next-generation, investigational, Sphere-360 single-shot PFA catheter show impressive safety, performance, and efficiency results for paroxysmal Afib; Dual-energy, focal Sphere-9 catheter demonstrates efficacy for linear ablation in persistent AFib; Medtronic continues legacy of leadership in innovation, showcasing arrhythmia management portfolio at Heart Rhythm Society annual meeting Stay Ahead of the Market:
Yahoo
01-04-2025
- Business
- Yahoo
2 Value Stocks I'm Buying Right Now
Investing in this market isn't fun. Geopolitical tensions are escalating to levels not seen in decades, global trade relationships face unprecedented strain, and persistent inflation continues eroding purchasing power. The silver lining? Unlike the past two and a half years, there are some truly compelling bargains in the current market. More than a few high-quality companies are trading at attractive valuations following a rough start to 2025 for U.S. stocks. Here are two blue-chip value stocks I'm steadily accumulating right now. Medtronic (NYSE: MDT) stock is a serious bargain at current prices. The global medical device giant trades at just 15 times forward earnings, a substantial 25% discount to the S&P 500's 20 multiple, despite maintaining market leadership positions across multiple high-growth healthcare segments. What makes this discount particularly compelling is Medtronic's remarkable dividend track record. The company has raised its payout for 47 consecutive years, an achievement few healthcare companies can match. At the current price, investors lock in a hefty 3.2% yield, more than double the S&P 500's 1.3% yield. The bearish narrative surrounding Medtronic centers on its moderating growth rate, but this overlooks several catalysts that could reignite momentum. As one example, the company's Affera pulsed field ablation business surged 22% last quarter, suggesting Medtronic could upend Johnson & Johnson's and Abbott's long-standing dominance in the atrial fibrillation market. Medtronic's current 85% payout ratio might raise eyebrows, but it reflects temporary factors rather than structural problems. Management's disciplined expense control has kept earnings per share growing at 7% in the most recent quarter despite slower revenue growth, demonstrating Medtronic's ability to protect its bottom line even during challenging periods. After years of milquetoast stock performance -- to the tune of negative-2.5% over five years -- Medtronic's deeply discounted valuation relative to the S&P 500, its generous 3.2% yield, and encouraging signs in growth segments such as Affera could finally reward patient investors as this medical device leader executes its turnaround strategy. Chevron (NYSE: CVX) represents one of the most compelling values in the energy sector. The oil and gas giant trades at just 14.7 times forward earnings, nearly 27% below the S&P 500's 20 multiple, despite its dominant position in key production regions and rock-solid financial strength. Income investors should take particular notice of Chevron's dividend excellence. The company has raised its payout for 37 consecutive years, including a 5% increase announced just this January. The oil and gas giant's current 4.1% yield provides substantial income at a reasonable 67% payout ratio, giving investors confidence in both the sustainability and future growth of its dividend. The market's bearish stance on Chevron stems largely from concerns about long-term oil demand and recent downstream weakness. However, this ignores the company's significant cost advantages in the Permian Basin, where 75% of its acreage has low or zero royalty rates, providing superior margins compared with competitors that paid premium prices to enter the region. Management's commitment to $2 billion to $3 billion in structural cost reductions by 2026 should further enhance profitability. What's the bottom line? For value investors seeking income and inflation protection, Chevron offers a compelling combination of current yield, an attractive valuation, and exposure to essential energy commodities that should appreciate in any sustained inflationary environment. In a market environment filled with uncertainty and volatility, high-quality companies like Medtronic and Chevron offer something increasingly rare: proven business models, generous income, attractive valuations, and, best of all, meaningful upside potential from current levels. That's why I continue adding to these dividend-focused positions regularly, despite the ongoing turbulence in the broader markets. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $284,402!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $41,312!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $503,617!* Right now, we're issuing 'Double Down' alerts for three incredible companies, and there may not be another chance like this anytime soon.*Stock Advisor returns as of March 24, 2025 George Budwell has positions in Abbott Laboratories, Chevron, and Medtronic. The Motley Fool has positions in and recommends Abbott Laboratories and Chevron. The Motley Fool recommends Johnson & Johnson and Medtronic and recommends the following options: long January 2026 $75 calls on Medtronic and short January 2026 $85 calls on Medtronic. The Motley Fool has a disclosure policy. 2 Value Stocks I'm Buying Right Now was originally published by The Motley Fool
Yahoo
27-03-2025
- Business
- Yahoo
Exclusive-FDA staff struggle to meet product review deadlines after DOGE layoffs
(Reuters) - Some U.S. health regulators who review medical devices and tobacco products for safety and efficacy are struggling to meet deadlines mandated by Congress due to Trump administration layoffs, three scientists working on the projects told Reuters. Two of the scientists who work at the U.S. Food and Drug Administration said they had been assigned around double the number of new product applications for review since their colleagues were fired. They requested anonymity for fear of professional repercussions. They said they were instructed to shelve other work, including oversight of other reviewers and providing early feedback on planned product applications before they are submitted for approval review. One scientist at the FDA's Center for Tobacco Products said the center had delayed starting new applications while staff worked on existing submissions, some with reviews that must be completed within 180 days under U.S. law. Several tobacco-related research projects have also been canceled, he said. "We have 180 days to complete those (existing) reviews, and we're not going to come anywhere close to that. It's just not going to happen," the scientist said. A medical device reviewer said they were working to the wire to meet some deadlines. The FDA did not respond to a request for comment. The U.S. Department of Government Efficiency - led by billionaire Elon Musk - fired around 1,000 probationary FDA employees last month, mostly from the agency's centers for tobacco, food and medical devices, before bringing some back. Reuters could not confirm the final number of staff fired. The FDA had more than 20,000 workers earlier this year. Ameet Sarpatwari, a professor at Harvard Medical School, said the FDA's loss of personnel and institutional experience could lead the agency to spend longer on reviews, resulting in products coming to market later, or spend less time on individual applications, increasing the risk of missing any red flags. CANCELED MEETINGS A lawyer specializing in FDA regulation, who spoke on condition of anonymity, said her clients at large medical device companies were deeply concerned that the FDA would start missing deadlines. Medical device industry group AdvaMed said the organization was hearing similar concerns, a spokesperson said. Eva Temkin, a lawyer at Arnold & Porter who advises clients on medical device applications, said the FDA had canceled some meetings with companies or reverted to providing written responses only. The FDA last year approved more than 3,000 medical devices, around three-dozen of which were for original, high-risk devices like Medtronic's Affera system to treat atrial fibrillation, and more than 250 applications for tobacco products, according to agency databases. It is currently reviewing high-profile projects including one from Philip Morris International that seeks approval for a new iteration of its heated tobacco device IQOS. Philip Morris did not respond to a request for comment. The U.S. Department of Health and Human Services, which oversees the FDA, submitted plans for further layoffs to the Trump administration earlier this month. The administration had been offering $25,000 buyouts to FDA employees, excluding reviewers, investigators and security personnel, and early retirement ahead of that proposal, according to agency emails viewed by Reuters. A second scientist in the tobacco division said he had been given more complicated applications to review, which require more in-depth study, after over a dozen people were fired in his office, while simpler submissions assigned to him had been put on pause. He said he had also been given a regulatory memorandum to work on by himself that would normally be compiled by as many as six scientists. Some of the probationary workers laid off from the FDA's tobacco center had been recruited last year for their understanding of emerging technologies, such as age verification software for electronic cigarettes, according to the first scientist. "We needed a greater variety of expertise, and we lost that. And so that has left us scrambling quite a bit," he said.
