Medtronic plc (NYSE: MDT)
Medical Devices · Dublin, Ireland · Founded 1949
- Market capitalization: $110.0 billion
- Annual revenue: $33.54 billion
- Net income: $4.66 billion
- Employees: 95,000
- Sector: Healthcare
- Headquarters: Dublin, Ireland
- Founded: 1949
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Medtronic is the world's largest pure-play medical device company, making pacemakers, insulin pumps, spinal implants, surgical robots, and neurostimulators. The company's devices are implanted in or used by millions of patients worldwide. Earl Bakken co-founded Medtronic in a Minneapolis garage in 1949 and invented the first battery-powered external pacemaker. The company is now headquartered in Dublin, Ireland for tax purposes.
Medical device sales across four segments: Cardiovascular, Medical Surgical, Neuroscience, and Diabetes. The company generates recurring revenue from device replacements, consumables, and service contracts. Medtronic sells to hospitals and healthcare systems globally. Revenue exceeds $32 billion annually. The company has been investing in robotic-assisted surgery (Hugo) to compete with Intuitive Surgical.
Bakken and Palmer Hermundslie founded Medtronic in 1949. Bakken built the first wearable pacemaker in 1957 after a power outage at a hospital killed a child on an external pacemaker. The company went public in 1977. The $50 billion Covidien acquisition in 2015 was the largest medtech deal ever and moved the headquarters to Ireland. Medtronic has struggled with execution and innovation speed in recent years.
| Market Capitalization | $110.0B |
| Annual Revenue | $33.54B |
| Net Income | $4.66B |
| Profit Margin | 14% |
| Revenue per Employee | $353053K |
| Stock Exchange | NYSE |
| Ticker Symbol | MDT |
Financial data is approximate and based on most recent annual filings.
Bakken's first pacemaker was built in his garage using a circuit from a Popular Electronics magazine. Medtronic's mission statement, written by Bakken in 1960, is still displayed in every office. The company's Irish domicile saves hundreds of millions in taxes annually. Medtronic devices are implanted in a new patient every three seconds somewhere in the world.
Medtronic has the broadest medtech portfolio in the world but has been a serial underperformer u2014 the Hugo surgical robot and diabetes pipeline need to deliver, or the company risks becoming a value trap.
What is Medtronic plc's revenue?
Medtronic plc generates approximately $33.54 billion in annual revenue.
How many employees does Medtronic plc have?
Medtronic plc employs approximately 95,000 people worldwide.
What is Medtronic plc's market cap?
Medtronic plc (MDT) has a market capitalization of approximately $110.0 billion on the NYSE.
When was Medtronic plc founded?
Medtronic plc was founded in 1949 and is headquartered in Dublin, Ireland.
Who is the CEO of Medtronic plc?
Geoff Martha is the current CEO of Medtronic plc.
What is Medtronic plc's website?
Medtronic plc's official website is medtronic.com.
| CEO | Geoff Martha |
| Sector | Healthcare |
| Industry | Medical Devices |
| Founded | 1949 |
| HQ | Dublin |
| Country | Ireland |
| Website | medtronic.com |
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