Medtronic, Inc. – Company Information

Medtronic, Inc. (NYSE: MDT) is one of the world’s largest medical technology corporations. The company, which is publicly traded on the New York Stock Exchange (under the ticker symbol ‘MDT’), is based in Fridley, Minnesota, USA.

Medtronic has a broad portfolio of products, therapies, and services to fulfill its Company Mission of “alleviating pain, restoring health, and extending life.” 

It serves hospitals, doctors, and patients in more than 140 countries worldwide.

It was founded in 1949 as a medical equipment repair shop in northeast Minneapolis by Earl Bakken and Palmer Hermundslie. In 1957 it was incorporated as a Minnesota corporation.

Its operations are broken down into two major groups (The Cardiac and Vascular Group and The Restorative Therapies Group):

The Cardiac and Vascular Group (CVG) – CVG is comprised of four businesses: Cardiac Rhythm Disease Management (CRDM), Coronary, Structural Heart, and Endovascular. Products are primarily for patients with cardiac rhythm disorders and cardiovascular diseases.

Products include: Aortic stent graft systems, Coronary angioplasty technologies, CRDM device information management systems, Electrophysiology catheters, Implantable defibrillators, Leads and delivery systems, Open heart and coronary bypass grafting surgical products, Pacemakers, Peripheral angioplasty technologies, Renal denervation for uncontrolled hypertension, Surgical heart valves, Tissue ablation systems, and Transcatheter heart valves.

The Restorative Therapies Group (RTG) – RTG consists of four businesses: Spine, Neuromodulation, Diabetes, and Surgical Technologies. Products are primarily for patients with spinal conditions and musculoskeletal trauma, neurological disorders, urological and digestive disorders, diabetes, and ear, nose, and throat conditions.

Products include: Advanced energy surgical instruments, Balloon kyphoplasty systems, Bone graft and biologic products, Deep brain stimulation devices and leads, Devices for cranial trauma and tumors, critical care, and hydrocephalus, Drug delivery devices and catheters, External insulin pumps, Image-guided surgery and intra-operative imaging systems, Products to treat conditions of the ear, nose, and throat, Products to treat incontinence and gastroparesis, Spinal cord stimulation devices and leads, Spine motion preservation devices, Subcutaneous continuous glucose monitoring systems, and Thoracolumbar and cervical spine fixation systems.

Medtronic, Inc. – Company Overview

Medtronic logo

  • Chairman and CEO: Omar Ishrak
  • CFO: Gary L. Ellis
  • Group President, Cardiac and Vascular: Michael J. Coyle
  • Group President, Restorative Therapies: Christopher J. O’Connell
  • Type: Public
  • Industry: Medical Devices
  • Publicly listed on the New York Stock Exchange (NYSE)
  • NYSE stock ticker symbol: MDT
  • S&P 500 Component
  • Revenue: $16.590 billion USD (2013)
  • Net income: $3.467 billion USD (2013)
  • Diluted earnings per share: $3.37 USD (2013)
  • Founded: 1949
  • Founder(s):  Earl Bakken and Palmer Hermundslie
  • Employees: 46,000 (2013)
  • Corporate headquarters: 710 Medtronic Parkway, Minneapolis, MN 55432-5604, USA
  • Corporate contact number: +1 (763) 514 4000
  • Investor relations contact number: +1 (763) 505-2692
  • Investor relations email address: [email protected]
  • Website:

Medtronic, Inc. – Live Stock Market Data

Medtronic, Inc. – Financial Results

Operating data (in $ millions) 2013 2012
Net sales $16,590 $16,184
Cost of products sold $4,126 $3,889
Gross margin percentage 75.1% 76.0%
Research and development expense $1,557 $1,490
Selling, general, and administrative expense $5,698 $5,623
Restructuring charges, net $172 $87
Certain litigation charges, net $245 $90
Acquisition-related items $(49) $12
Amortization of intangible assets $331 $335
Other expense, net $108 $364
Interest expense, net $151 $149
Income from continuing operations before income taxes $4,251 $4,145
Provision for income taxes $784 $730
Income from continuing operations $3,467 $3,415
Income (loss) from discontinued operations, net of tax $202
Net income $3,467 $3,617
Balance sheet data (in $ millions)
Total assets $34,841 $32,818
Long-term debt $9,741 $7,359
Total stockholders’ equity $18,671 $17,113
Cash flow data (in $ millions)
Net cash provided by operating activities $4,883 $4,470
Net cash used in investing activities $(3,101) $(2,662)
Net cash used in financing activities $(2,101) $(1,882)
Cash and cash equivalents at end of period $860 $1,172
Common share data (in $)
Basic earnings (loss) per common share $3.40 $3.43
Diluted earnings (loss) per common share $3.37 $3.41

Medtronic 2012 financial highlights
Source: “Medtronic 2013 Annual Report”

Medtronic, Inc. news

June 15, 2014: Medtronic has confirmed a $49.2 billion acquisition deal with the Irish medical devices company Covidien. The cash-and-shares transaction, which was voted through unanimously by both boards of directors, is valued at $93.22 per Covidien share. Medtronic will move its headquarters to Ireland, where corporate tax is just 12.5%, compared to 35% in the US.