MDT · 10-Q · 2026Q3

Medtronic plc

Filed 2026-09-03 · Healthcare · View original filing on EDGAR

Ranked Events

• Free Cash FlowImportance 69 · Surprise 64
  Net cash provided by operating activities increased $705 million year over year to $1.793 billion for the three months ended July 31, 2026. Additions to property, plant, and equipment were $503 million, compared with…
• Acquisition / Partnership / DivestitureImportance 65 · Surprise 60
  Medtronic acquired all outstanding shares of privately held Scientia Vascular on June 12, 2026, for $681 million of total consideration, including $123 million of contingent consideration. Scientia’s differentiated…
• Goodwill Impairment RiskImportance 61 · Surprise 32
  Medtronic’s fiscal 2026 annual impairment analysis found that the Medical Surgical reporting unit’s estimated fair value exceeded its carrying value by approximately 12%, with $19.7 billion of goodwill allocated to the…
• SPR Therapeutics AcquisitionImportance 59 · Surprise 60
  Medtronic acquired all outstanding equity of privately held SPR Therapeutics, Inc. on July 16, 2026, for $654 million of total consideration transferred. The transaction strengthens the Neuromodulation division within…
• AI-Assisted Surgery PlatformImportance 57 · Surprise 76
  Cranial & Spinal Technologies sales increased 13%, driven by continued adoption of the AiBLE ecosystem, which integrates spine implants with StealthStation, O-arm imaging, Midas Rex, the Mazor robotic guidance…
• Neuroscience Product AdoptionImportance 54 · Surprise 40
  Neuroscience sales grew 10%, with Cranial & Spinal Technologies up 13% on continued adoption of the AiBLE ecosystem, Core Spine, and Neurosurgery. Specialty Therapies increased 10%, driven by Altaviva, ENT,…
• Liquidity and Debt PositionImportance 54 · Surprise 14
  Cash and cash equivalents were $1.7 billion and current investments were $7.1 billion at July 31, 2026. Total debt was $28.2 billion, up from $28.0 billion at April 24, 2026, primarily because of higher short-term…
• Gross Margin DriversImportance 54 · Surprise 40
  Cost of products sold increased to $3.4 billion for the three months ended July 31, 2026, from $3.0 billion in the prior-year period. Cost of products sold as a percentage of net sales was flat year over year despite…
• Revenue Performance and MixImportance 54 · Surprise 40
  Total net sales increased 14% year over year to $9.756 billion for the three months ended July 31, 2026, from $8.578 billion, including an estimated $570 million benefit from the 53rd fiscal week and favorable…
• Acute Care Product DemandImportance 48 · Surprise 40
  Acute Care & Monitoring sales increased 14%, primarily due to growth in Nellcor pulse oximetry, the McGRATH MAC video laryngoscope, and Microstream Capnography. Medtronic expects continued acceptance and growth in…
• Operating Expense TrendsImportance 47 · Surprise 22
  Research and development expense increased 6% to $771 million for the three months ended July 31, 2026, from $726 million in the prior-year period. Selling, general, and administrative expense increased approximately…
• Cardiac Device DemandImportance 46 · Surprise 56
  Electrophysiology Therapies sales increased 30%, driven by growth in the pulsed field ablation portfolio and higher demand for Cardiac Pacing Therapies and Defibrillation Solutions. The company expects continued…
• Sphere-9 Ventricular Ablation ExpansionImportance 44 · Surprise 60
  Medtronic expanded the commercial opportunity for the Affera Mapping and Ablation System and Sphere-9 catheter through an expanded CE Mark indication in August 2026 for treatment of ventricular arrhythmias. The…
• Diabetes Business SeparationImportance 44 · Surprise 60
  Medtronic announced in May 2025 that it intended to separate its Diabetes Business into a new independent publicly traded company, MiniMed Group, Inc. MiniMed completed an initial public offering on March 9, 2026, but…
• Capital Return ProgramImportance 40 · Surprise 42
  Medtronic’s March 2024 board authorization permits up to $5.0 billion of ordinary-share repurchases without a specified expiration date. During the three months ended July 31, 2026, Medtronic repurchased 3 million…
• Income Tax Rate ChangesImportance 38 · Surprise 58
  Medtronic’s effective tax rate declined to 16.4% for the three months ended July 31, 2026, from 19.6% in the prior-year period. The reduction primarily reflected the release of reserves for uncertain tax positions on…
• Pillar Two Global Minimum TaxImportance 37 · Surprise 42
  The OECD Pillar Two Model Rules require large multinational corporations to pay a minimum 15% tax rate in each jurisdiction where they operate. Countries including Ireland have enacted legislation implementing the core…
• Trade Policy and TariffsImportance 37 · Surprise 42
  The U.S., China, and other jurisdictions have imposed or proposed additional tariffs on imported goods, creating uncertainty for Medtronic’s cost structure and financial performance. On February 20, 2026, the U.S.…
• Hugo Robotic Surgery ExpansionImportance 31 · Surprise 32
  Surgical & Endoscopy sales increased 9%, supported by growth in LigaSure vessel sealing technology, V-Loc sutures, ProGrip mesh, the Hugo robotic-assisted surgery system, and Endoscopy. Medtronic expects global…
• Cardiovascular Product GrowthImportance 30 · Surprise 40
  Interventional Cardiology Therapies sales increased 7%, led by TAVR, the Symplicity Spyral renal denervation system, guide catheters, and balloons. CardioVascular Surgery sales increased 9%, supported by Aortic…

Revenue by Product (in millions)

Revenue by Geography (in millions)