In the latest trading session, Medtronic (MDT) closed at $88.58, marking a +1.04% move from the previous day. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow saw a ...

Medtronic, which employs about 10,000 people in Minnesota, reported an adjusted net profit of $1.62 billion on $8.4 billion in sales for its second quarter, which ended Oct. 25.

Last week, Medtronic announced the intent to separate its diabetes business into a new standalone company. The new company, which remains unnamed, is expected to launch within 18 months.

Medtronic in 2015 acquired the brand’s parent, Covidien, for $49.9 billion. Du, the former Medtronic ventilation executive, is now the CEO of ventilator maker Nihon Kohden OrangeMed.