Gold prices bounce off 3-week lows; demand likely longer term
GALWAY, Ireland - Medical device maker Medtronic plc (NYSE:MDT), a prominent player in the Healthcare Equipment & Supplies industry with a market capitalization of $110 billion, announced Monday the appointment of Dr. Joon Lee to its Board of Directors as an independent director, effective June 18, 2025.
Dr. Lee, currently serving as CEO of Emory Healthcare, will join the Science and Technology Committee and Compensation and Talent Committee of the board, according to a company press release.
As the head of Emory Healthcare, Dr. Lee oversees Georgia’s most comprehensive academic health system, which generates $7.7 billion in yearly revenue, operates 12 hospitals, and employs more than 29,000 people.
Prior to his current role, Dr. Lee spent over 25 years at the University of Pittsburgh Medical Center (UPMC), where he held several leadership positions including Executive Vice President and President of Physician Services. He also served as Chief Medical Officer of UPMC Insurance Services from 2019 to 2021.
Dr. Lee is certified in cardiovascular disease by the American Board of Internal Medicine and is a fellow in the American College of Cardiology and Society for Coronary Angiography and Interventions. He completed his medical training at Massachusetts General Hospital and has served as an instructor at Harvard Medical School. He holds degrees from Dartmouth College and Duke University.
Medtronic, headquartered in Galway, Ireland, is a global healthcare technology company with approximately 95,000 employees across more than 150 countries. The company develops and manufactures medical devices including cardiac devices, surgical robotics, and patient monitoring systems.
In other recent news, Medtronic has announced plans to spin off its diabetes business into a separate entity named MiniMed, honoring the legacy of a company it acquired in 2001. The planned separation is expected to occur within 18 months and aims to streamline Medtronic’s operations. The diabetes division currently accounts for approximately 8% of the company’s total revenue. Analysts from Needham have maintained a Hold rating on Medtronic’s stock, suggesting that while the spinoff might not immediately unlock significant value, it could enhance shareholder value in the long term.
Additionally, Truist Securities has increased its price target for Medtronic to $92, responding to the company’s reported organic revenue growth of 5.4%, surpassing consensus estimates. However, Medtronic’s guidance for fiscal year 2026 earnings per share was below expectations due to tariff impacts. RBC Capital reiterated its Outperform rating on Medtronic, highlighting the significant opportunity in the company’s renal denervation system, a market with over 100 million potential patients globally. The firm emphasized Medtronic’s first-mover advantage in this area, noting the potential for substantial growth.
In a related industry update, Boston Scientific’s decision to halt sales of its ACURATE neo2 and ACURATE Prime products could benefit Medtronic, as both companies offer similar self-expanding products. Despite these developments, Medtronic remains focused on optimizing its business structure and improving overall performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.