MDT Medtronic plc

What the last report said

Wed, Jun 3, 2026

Medtronic FY26 Q4 revenue beat +0.8%, but EPS narrowly missed -0.4%; key drivers were Cardiac Ablation (+78%) and CRM (+10.1%), while gross margin pressure stemmed from PFA/diabetes mix drag

• Cardiac Ablation Solutions revenue +78% globally (+124% US), with PFA representing 75% of ablation revenue and driving growth; Affera system installed base doubled in Q4
• Cardiovascular portfolio +10.1% organic, led by Cardiac Rhythm Management +10.1% (Micra™ mid-teens growth, strong OmniaSecure™ US launch)
• Medical Surgical +5.1% organic, driven by Acute Care & Monitoring (low-double-digit) and Endoscopy (high-single-digit)
• Diabetes business +8.1% organic, with >35,000 US orders for Simplera Sync/Instinct sensors (25% from new pump users or CGM-naive Medtronic install base)
• Hugo™ RAS submitted to FDA for general surgery/gynecologic indications and LigaSure™ RAS vessel sealer cleared; Stealth AXiS™ Surgical System received FDA clearance for Spine/Cranial/ENT and CE Mark for Spine/Cranial

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