Medtronic (MDT) Company Report

MiniMed Group, Inc. (Nasdaq: MMED) began trading today on the Nasdaq Global Select Market under the ticker MMED.
The IPO was oversubscribed and represents the second largest IPO in Medtech history.
The spin-off positions MiniMed as a standalone company to operate with greater agility and supports Medtronic’s strategy to focus on long-term value creation.
Geoff Martha, Medtronic’s CEO, highlighted the achievement despite challenging market conditions and congratulated the MiniMed leadership team.

4 hours ago

Press Release

MiniMed prices IPO at $20 per share

MDT

Delisting/Listing Issues

MiniMed priced its IPO of 28,000,000 shares at $20.00 each, kicking off trading on Nasdaq Global Select Market under “MMED” on March 6, 2026, with closing expected March 9, 2026.
Underwriters have a 30-day option for up to 4,200,000 additional shares, and Medtronic is expected to retain ~90.03% ownership (or 88.70% if the over-allotment is fully exercised) post-offering.
Net proceeds will support general corporate purposes, repay intercompany debt, and serve as consideration for assets transferred from Medtronic.

18 hours ago

Press Release

Medtronic subsidiary MiniMed prices IPO

MDT

Delisting/Listing Issues

MiniMed Group priced an IPO of 28 million shares at $20.00 per share, set to begin trading on Nasdaq under the ticker MMED on March 6, 2026.
Underwriters received a 30-day option to purchase up to 4.2 million additional shares, and Medtronic is expected to hold 90.03% of MiniMed (or 88.70% if the over-allotment option is fully exercised) post-offering.
The offering is expected to close on March 9, 2026, with net proceeds earmarked for general corporate purposes, repayment of intercompany debt, and additional consideration to Medtronic.

18 hours ago

Press Release

Medtronic begins EMEA launch of MiniMed Go Smart MDI system

MDT

Product Launch

Medtronic launched its MiniMed Go Smart MDI system integrating the InPen™ smart insulin pen and Simplera™ sensor into a single mobile app, with rollout across Europe beginning February 2026.
The system delivers real-time actionable insights, missed-dose alerts, an advanced dose calculator and continuous guidance to support multiple daily injection (MDI) therapy adherence.
New CareLink Clinic MDI reports provide clinicians with clinical and behavioral insights from patient data, enhancing the efficiency of patient consultations.
The system is CE-marked for insulin-requiring patients aged 7 and older (and ages 2–6 under caregiver supervision); integration with Abbott’s Instinct Go™ sensor is pending CE approval.

Feb 25, 2026, 1:30 PM

Press Release

Medtronic’s MiniMed launches IPO roadshow

MDT

Delisting/Listing Issues

MiniMed Group, a Medtronic subsidiary, launched its IPO roadshow offering 28,000,000 shares at an expected price of $25.00–$28.00 per share, plus a 30-day option for an additional 4,200,000 shares.
Shares are planned to list on Nasdaq Global Select Market under the symbol “MMED,” with Medtronic retaining approximately 90.03% post-IPO (or 88.70% if over-allotment is exercised).
Proceeds will fund general corporate purposes and repay intercompany debt to Medtronic, with any remainder as consideration for transferred assets.
Goldman Sachs, BofA Securities, Citigroup and Morgan Stanley are leading the offering as active bookrunners.

Feb 24, 2026, 1:30 PM

Press Release

Medtronic unit MiniMed files $784M IPO registration

MDT

Delisting/Listing Issues

Medtronic’s MiniMed diabetes unit filed to list on Nasdaq under ticker MMED, offering 28 million shares at $25–$28 to raise up to $784 million, targeting a $7.86 billion valuation.
Medtronic would retain about 90% of voting power post-IPO (90.03%, or 88.70% if the over-allotment is exercised).
The IPO is the first step in Medtronic’s strategy to spin off its Diabetes segment via an IPO and split-off, with full separation expected within months to 18 months.
Lead underwriters are Goldman Sachs, BofA Securities, Citigroup and Morgan Stanley, supported by a broader syndicate of joint managers and co-managers.

Feb 24, 2026, 11:44 AM

Bloomberg

Medtronic reports Q3 FY26 results and updates guidance

MDT

Earnings

Guidance Update

Product Launch

Medtronic reported Q3 FY26 revenue of $9 billion, up 8.7% reported and 6% organic, with adjusted EPS of $1.36, driven by double-digit growth in CRM and 80% growth in CAS.
The company continues to advance its pipeline and launches, including direct-to-consumer Symplicity Spyral for hypertension, UltraViva for urge urinary incontinence, the Hugo surgical robot (first U.S. installations completed), and FDA-cleared Stealth AXiS navigation and robotics for spinal procedures.
It reiterated FY26 organic revenue growth guidance of ~5.5% and maintained EPS guidance of $5.62–$5.66, while targeting high single-digit EPS growth for FY27 despite tariff headwinds and planned investments.
Medtronic is pursuing targeted M&A and venture investments, highlighted by the CathWorks and CRDN acquisitions and a strategic minority investment in Anteris for structural heart, to bolster its digital and procedural ecosystems.

Feb 17, 2026, 1:00 PM

Transcript

Medtronic reports Q3 2026 earnings

MDT

Earnings

Guidance Update

M&A

Medtronic delivered $9 billion in Q3 revenue, up 8.7% reported and 6% organic; adjusted gross margin was 64.9%, and adjusted EPS was $1.36, beating by $0.03. FY 2026 organic revenue growth guidance of ~5.5% and Q4 growth of ~6%, with full-year EPS guidance maintained at $5.62–$5.66.
Cardiovascular portfolio grew 11% YoY (13% in the U.S.) with CAS up 80% (PFA representing 80% of CAS revenue); CRM contributed 15% of total revenue and grew 5%, driven by Micra, CSP Lead, and Aurora EV-ICD.
Key product launches include the PFA Affera Sphere-9 catheter, which gained four points of share in a $13 billion+ market; CE mark on Sphere-360 with a U.S. pivotal trial initiated; and first U.S. cases of the Hugo surgical robot completed in February 2026.
Executing targeted bolt-in M&A with CathWorks and Anteris to strengthen high-growth franchises; MiniMed diabetes business separation via a two-step IPO and split remains on track for end-CY 2026.

Feb 17, 2026, 1:00 PM

Transcript

Medtronic reports Q3 2026 results

MDT

Earnings

Guidance Update

Product Launch

Medtronic delivered Q3 revenue of $9.0 billion, up 8.7% reported and 6% organic, with adjusted EPS of $1.36, beating guidance by $0.03.
The cardiovascular portfolio grew 11% year-over-year; cardiac ablation solutions (CAS) revenue surged 80%, with pulsed field ablation (PFA) accounting for 80% of CAS, and cardiac rhythm management rose 5%.
Key product milestones include nearly 200% PFA growth worldwide, first U.S. installations of the Hugo surgical robot, FDA clearance of the Stealth AXiS navigation/robotics platform, and early launches/submissions for Sphere-9, Symplicity Spyral, and Altaviva.
Reiterated FY 2026 organic revenue growth guidance of ~5.5% and Q4 growth of ~6%, full-year EPS guidance of $5.62–$5.66, and a target of high single-digit EPS growth for FY 2027.

Feb 17, 2026, 1:00 PM

Transcript

Medtronic announces Q3 FY2026 results

MDT

Earnings

Guidance Update

Product Launch

Revenue of $9.0 billion, up 8.7% reported and 6.0% organic; adjusted EPS of $1.36 beat expectations by $0.03.
Strong segment performance: cardiovascular revenue grew 11% (U.S. up 13%) with CAS up 80% and mid-single-digit growth in the rest of the portfolio; CRM + 5%; MedSurg + 3%; MiniMed diabetes business + 15% reported (+ 8% organic).
Key product milestones: Symplicity Spyral and UltraViva launches are building market with a 50x increase in website visits; Hugo surgical robot cleared and first U.S. installations completed; Stealth AXiS navigation/robotics system cleared for spine.
Reiterated FY2026 guidance: organic revenue growth ~ 5.5% and EPS of $5.62–$5.66; Q4 growth expected ~ 6%; targeting high single-digit EPS growth in FY2027 with margin expansion ex-tariffs.