Company Reports

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the medical technology landscape. Medtronic's diversified product portfolio aimed at a wide range of chronic diseases spans therapeutic areas including cardiac, spine, chronic pain, as well as various products for acute care. This has put Medtronic in a strong position as a major vendor to hospital customers.

Medtronic kicked off its new fiscal year with quarterly top-line and bottom-line growth of 14% and 41%, respectively, with double-digit growth across its extensive product portfolio.

Medtronic's fiscal fourth-quarter results included organic top-line and adjusted operating income growth of 7% and 29%, respectively. The cardiac rhythm/heart failure and acute care/monitoring categories both delivered double-digit growth.

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the medical technology landscape. Medtronic's diversified product portfolio aimed at a wide range of chronic diseases spans therapeutic areas including cardiac, spine, chronic pain, as well as various products for acute care. This has put Medtronic in a strong position as a major vendor to hospital customers.

Medtronic delivered fiscal third-quarter results that featured 6% organic top-line growth and reported operating margin of 16%. The cardiac ablation solutions business rose 80% year over year thanks to pulsed field ablation adoption.

For the fiscal second quarter, Medtronic reported revenue and earnings growth of 6% (organic) and 8%, respectively. The pulsed field ablation, or PFA, portfolio drove up the cardiac ablation solutions business 71% year over year.

Medtronic reported fiscal 2026 first-quarter performance that included 5% revenue growth (in constant currency) and operating margin improvement of 70 basis points year over year.

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the med-tech landscape. Medtronic's diversified product portfolio aimed at a wide range of chronic diseases spans therapeutic areas including cardiac, diabetes, chronic pain, as well as various products for acute care. This has put Medtronic in a strong position as a major vendor to hospital customers.

Medtronic delivered another quarter of solid, consistent results with revenue and adjusted EPS up 5% and 11%, respectively. It also announced plans to spin off its diabetes business within 18 months.

Despite intensive medtech industry lobbying to secure a carve-out from the Trump administration’s expansive tariffs on all countries, medical devices have been swept up in the tariff net.

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the med-tech landscape. Medtronic's diversified product portfolio aimed at a wide range of chronic diseases spans therapeutic areas including cardiac, diabetes, chronic pain, as well as various products for acute care. This has put Medtronic in a strong position as a major vendor to hospital customers.

Medtronic posted fiscal 2025 third-quarter results that included slightly slower top-line growth of 4% in constant currency, but rigorous expense control kept earnings per share growth at 7%.

Medtronic delivered fiscal second-quarter results that featured solid 5% organic top-line growth year over year. However, several new product launches weighed on gross margin to the tune of 50 basis points.

Medtronic kicked off its fiscal year with strong first-quarter results that are consistent with our full-year expectations. Though management has raised the lower end of its outlook, our projections remain bounded by the new range, and we’re leaving our fair value estimate intact. Though Medtronic’s business is typically characterized by some combination of waxing and waning products, we think there’s been progress in shifting the balance to more new products to maintain the mid-single-digit top-line growth management seeks. The recent introduction of key new technologies that offer relevant innovation also underscores Medtronic’s intangible assets that support its narrow economic moat.

Narrow-moat Medtronic wrapped up its fiscal year with solid fourth-quarter results. With full fiscal year performance hitting very close to our estimates and our projections for fiscal 2025 bounded by management’s outlook, we’re holding steady on our fair value estimate. Reported annual revenue growth of 3.6% nearly hit our projection for 3.7% on the nose. Medtronic slightly exceeded our expectations on cost containment, but this was offset by incrementally higher amortization. The firm continues to see strength from pockets of innovation, including its Micra leadless pacemakers, the 780g insulin pump, and the limited launch of its Simplera Sync continuous glucose monitor in a handful of European countries. With key products approaching or in the early stages of commercialization, we’re more comfortable that Medtronic can maintain its mid-single-digit revenue growth goal.

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the med-tech landscape. Pairing Medtronic's diversified product portfolio aimed at a wide range of chronic diseases with its expansive selection of products for acute care in hospitals has bolstered Medtronic's position as a key partner for its hospital customers.

Wide-moat Medtronic delivered solid fiscal third-quarter results, and with the firm running slightly ahead of our projections on the top line, we’ve adjusted our revenue assumptions upward incrementally for the full year. However, this wasn’t enough to materially move our valuation, and we’re leaving our fair value estimate unchanged.

Medtronic posted strong fiscal 2024 second-quarter results that put it on track to meet our full-year expectations, and we’re leaving our $112 fair value estimate unchanged. We think this quarter demonstrated more progress on the firm's larger objective of matching market growth. Organic revenue growth of 5% was fueled by strength in stent grafts for abdominal aortic aneurysm, the digital Aible system for spine procedures, and GI Genius, which incorporates artificial intelligence to better detect polyps during colonoscopy. Importantly, Medtronic recently obtained regulatory approval on several emerging technologies that we see as key growth drivers. These innovative new products reinforce the intangible assets that support Medtronic’s wide economic moat.

Medtronic posted solid fiscal first-quarter results that held few surprises and put the firm on track to meet our full-year expectations. We’re leaving our $112 fair value estimate unchanged, and although management raised its outlook, our fiscal 2024 projections remain bounded by the new range Medtronic provided. The firm also benefited from easing foreign exchange headwinds and solid pricing gains that largely offset inflationary pressure. We remain confident in Medtronic’s wide economic moat, which is supported by intangible assets underpinning its various technology platforms.

Medtronic's standing as the largest pure-play medical-device maker remains a force to be reckoned with in the med-tech landscape. Pairing Medtronic's diversified product portfolio aimed at a wide range of chronic diseases with its expansive selection of products for acute care in hospitals has bolstered Medtronic's position as a key partner for its hospital customers.