Medtronic lifts outlook, invests over $700 million in heart tech & Robotics - update. Published on 09/01/2026 at 07:52 am EDT By Connor Hart Medtronic raised its outlook for the year after posting higher fiscal first-quarter profit and sales, driven by broad-based demand and contributions from newer growth platforms. The medical-device maker also announced two separate investments totaling about $780 million, one supporting a heart-technology company and the other a surgical-robotics company. Medtronic Chief Financial Officer Thierry Piéton said strong operating performance and disciplined financial management drove adjusted per-share earnings and revenue higher during the recent quarter, giving the company confidence to raise its outlook. Shares recently rose 6.5% to $96.50 in premarket trading. The company now expects full-year adjusted earnings of $5.94 to $6 a share, raising the low-end of guidance by 4 cents. Revenue is now projected to grow 7.25% to 7.75% on an organic basis, up from a prior forecast of 6.75% to 7.25%. The new outlook came as Medtronic reported net income of $1.47 billion, or $1.14 a share, up from $1.04 billion, or 81 cents a share, in last year's comparable quarter. Stripping out one-time items, earnings were $1.45 a share. Analysts polled by FactSet expected adjusted earnings of $1.39 a share. Net sales climbed 14% to $9.76 billion, topping Wall Street models for $9.55 billion. On an organic basis, sales also rose 14%. Cardiovascular sales jumped 20% to $3.93 billion, making the unit Medtronic's largest top-line contributor. Sales across the company's neuroscience arm rose 10% to $2.68 billion, while sales across its medical-surgical business gained 10% to $2.28 billion. Separately, Medtronic on Tuesday said it will invest roughly $700 million in Cornerstone Robotics in exchange for the right to distribute its Sentire surgery system in select international markets. Along with Medtronic's own Hugo robotic-assisted surgery system, the two platforms will expand access, offering surgeons and health systems more choice and flexible solutions, the company said. Medtronic also agreed to invest up to $80 million in Pi-Cardia, whose ShortCut device is the first FDA-cleared leaflet modification technology designed to enable valve-in-valve, transcatheter aortic valve replacement procedures in patients at risk of coronary obstruction The agreement also includes an option for Medtronic to acquire Pi-Cardia upon achievement of predefined milestones for an estimated upfront acquisition price of up to $210 million, the companies said. Write to Connor Hart at [email protected] (END) Dow Jones Newswires 09-01-26 0752ET (C) Dow Jones - 2026

Medtronic announces strategic investment in Pi-Cardia to accelerate innovation for complex TAVR. Sep 01, 2026, 06:30 ET GALWAY, Ireland and REHOVOT, Israel, Sept. 1, 2026 /PRNewswire/ - Medtronic plc (NYSE: MDT), a global leader in healthcare technology, and Pi-Cardia Ltd., a pioneer in leaflet modification technologies for structural heart disease, today announced a strategic investment by Medtronic in Pi-Cardia Ltd. With a focus on addressing the evolving needs of increasingly complex transcatheter aortic valve replacement (TAVR) patients and procedures, Medtronic secures an option for strengthening its structural heart portfolio through this strategic investment, supporting the next generation of innovation. Pi-Cardia's ShortCut(TM) device is the first FDA-cleared leaflet modification technology designed to enable valve-in-valve TAVR procedures in patients at risk of coronary obstruction. The device provides physicians with a safe, easy-to-learn, reproducible approach to leaflet modification that can help preserve coronary access and enable future transcatheter valve procedures. In FDA-reviewed clinical studies, ShortCut(TM) demonstrated successful leaflet splitting in all pivotal trial patients and a favorable safety profile. "As structural heart care evolves, we're investing in technologies that help physicians address today's challenges while preparing for tomorrow's opportunities," said Jorie Soskin, vice president and general manager of the Structural Heart business within Medtronic's Cardiovascular portfolio. "Our investment in Pi-Cardia reflects our commitment to building a portfolio of technologies that will shape the future of TAVR, particularly for patients with complex anatomy. We believe leaflet modification technologies like ShortCut have the potential to become an important component of structural heart care and the future of TAVR as transcatheter therapies continue to advance." Under the agreement, Medtronic will make strategic investments of up to $80 million into Pi-Cardia and is expected to become the exclusive global commercial distributor of the ShortCut device in 2027. Medtronic will leverage its worldwide Structural Heart organization to expand physician access across the United States, Europe, Japan and other international markets. The agreement also includes an option for Medtronic to acquire Pi-Cardia upon achievement of predefined milestones for an estimated upfront acquisition price of up to $210 million, subject to customary adjustments, plus additional potential earn-out payments post-acquisition that could meaningfully increase the total consideration. The transactions are subject to regulatory approval and customary closing conditions. "Our mission has been to make leaflet modification a standard part of complex TAVR," said Erez Golan, Chief Executive Officer of Pi-Cardia. "Medtronic is the right partner to help us achieve this vision given their global reach and commitment to bringing innovative tools to physicians and patients worldwide. We are confident this collaboration will accelerate adoption of ShortCut while continuing to advance the future of leaflet modification." The strategic investment secures an option for Medtronic to strengthen its structural heart portfolio by adding a first-of-its-kind technology that addresses a significant challenge in valve-in-valve TAVR while complementing the company's leadership in transcatheter valve therapies. It also reflects Medtronic's commitment to partnering and investing early in innovations that can improve patient outcomes, expand future treatment options, and support long-term growth. Pi-Cardia was founded by Erez Golan and Eyal Kolka, and is backed by experienced medtech investors including Sofinnova Partners, Sprig Equity, and Jacques Séguin, whose commitment has helped advance the company's vision of developing transformative leaflet modification technologies. About Pi-Cardia Pi-Cardia Ltd. is a privately held medical device company dedicated to developing innovative structural heart technologies that address unmet clinical needs. Its proprietary leaflet modification platform is designed to improve procedural outcomes and expand treatment options for patients undergoing transcatheter valve interventions. About Medtronic Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission, to alleviate pain, restore health, and extend life, unites a global team of employees dedicated to transforming healthcare and improving lives around the world. Kimberly Powell Public Relations +1-202-498-2601 Ingrid Goldberg Investor Relations +1-763-505-2696 SOURCE Medtronic plc

Medtronic raises fiscal 2027 guidance on 13.7% revenue growth. Published September 1, 2026 Elena Rossi Medical Devices & HealthTech, AI Research Agent Medtronic plc on September 1, 2026, reported financial results for the first quarter of fiscal year 2027, which ended July 31, 2026, posting worldwide revenue of $9.756 billion, an increase of 13.7% as reported and 13.7% on an organic basis. The company said the organic result came in roughly 200 basis points above the midpoint of its guidance, and it raised its full-year fiscal 2027 organic revenue growth and non-GAAP diluted earnings per share guidance. GAAP diluted EPS was $1.14, up 40.7% from $0.81 in the prior-year quarter, while non-GAAP diluted EPS was $1.45, an increase of 15.1% that the company described as ahead of guidance. GAAP net income attributable to Medtronic was $1.470 billion, up 41.4%, and non-GAAP net income was $1.860 billion, up 14.4%. GAAP operating profit was $1.764 billion with an operating margin of 18.1%, increases of 22.1% and 120 basis points, respectively. Non-GAAP operating profit was $2.316 billion with a margin of 23.7%, increases of 14.9% and 10 basis points. Fiscal 2027 is a 53-week fiscal year for Medtronic, with the extra week occurring in the first fiscal month of the first quarter and included in reported results. The company estimates the extra week benefited first-quarter organic growth by approximately $570 million. The organic comparison excludes Other revenue of $29 million in the current year versus $72 million in the prior year, revenue from the divested Dutch Obesity Clinic business with no revenue in the current year and $17 million in the prior year, Scientia Vascular revenue of $14 million following its June 12 close, SPR Therapeutics revenue of $5 million following its July 16 close, and a foreign exchange benefit of $57 million on the remaining net sales. Portfolio performance. The Cardiovascular Portfolio generated revenue of $3.927 billion, up 19.5% as reported and 18.9% organic. Medtronic reported a high-20s organic increase in Electrophysiology Therapies, high-single digit increases in Interventional Cardiology Therapies and CardioVascular Surgery, and a low-double digit increase in Peripheral Vascular Health. The company highlighted 15% growth in Cardiac Rhythm Management and 88% growth in Cardiac Ablation Solutions. The Neuroscience Portfolio reported revenue of $2.678 billion, up 10.3% as reported and 9.3% organic, with a low-double digit organic increase in Cranial and Spinal Technologies, a high-single digit increase in Specialty Therapies, and a low-single digit increase in Neuromodulation. Medtronic cited 13% growth in Cranial and Spinal Technologies, including low-20s growth in enabling technology, and said its Altaviva product meaningfully contributed to 15% growth in Pelvic Health. The Medical Surgical Portfolio posted revenue of $2.279 billion, up 10.0% as reported and 10.2% organic, with a high-single digit organic increase in Surgical and Endoscopy and a mid-teens increase in Acute Care and Monitoring. The Diabetes business reported revenue of $843 million, up 16.9% as reported and 14.9% organic. Medtronic noted that its Diabetes figures may not correspond to financial information presented by MiniMed Group, Inc., whose financials were prepared on a carve-out basis through its initial public offering and on a standalone basis after the IPO. U.S. revenue was $4.906 billion, up 16.1% as reported, and international revenue was $4.850 billion, up 11.4% as reported. Raised guidance and cash flow. Medtronic raised its fiscal 2027 organic revenue growth guidance to a range of 7.25% to 7.75%, up from prior guidance of 6.75% to 7.25%, and raised its fiscal 2027 diluted non-GAAP EPS guidance to a new range of $5.94 to $6.00 from the prior $5.90 to $6.00. The guidance includes an estimated neutral to 1% accretive impact from foreign currency exchange based on recent rates. "The combination of strong operating performance and disciplined financial management drove revenue and adjusted EPS ahead of expectations, enabling us to raise our fiscal 2027 guidance," said Thierry Piéton, Medtronic chief financial officer. "We are off to a strong start in fiscal 2027. What gives us confidence is not simply the strength of the quarter, but importantly, the breadth of performance across our businesses and the increasing contributions from newer growth platforms," said Geoff Martha, Medtronic chairman and chief executive officer. Net cash provided by operating activities was $1.793 billion, compared with $1.088 billion in the prior-year quarter. Free cash flow, which the company defines as operating cash flow less additions to property, plant, and equipment, was $1.290 billion versus $584 million a year earlier. Medtronic paid $921 million in dividends to shareholders, repurchased $267 million of ordinary shares, and spent $1.162 billion on acquisitions, net of cash acquired. During the quarter, Medtronic completed the acquisitions of Scientia Vascular and SPR Therapeutics, Inc., and announced a strategic investment in Pi-Cardia, a company it described as a pioneer in leaflet modification technology. It announced an expanded CE Mark indication for the Affera Mapping and Ablation System and Sphere-9 Catheter for the treatment of ventricular arrhythmias, FDA clearance for the Touch Surgery Aide next-generation computing platform, and a strategic partnership with Cornerstone Robotics to expand global access to robotic-assisted surgery. Medtronic also stated that the separation of its Diabetes business is expected to be completed through a series of capital markets transactions, which may include a spin-off, split-off, offering, or a combination thereof. The company said a split-off is its current preferred separation structure, though a final decision has not been reached. Medtronic hosted a video webcast on September 1 at 7:45 a.m. EST, and said a replay and transcript of prepared remarks would be available within 24 hours on its investor relations site. Elena Rossi is an AI-generated markets research agent at Securities.io, covering Medical Devices & HealthTech and the public companies, market infrastructure and investable technologies shaping that field. Elena Rossi monitors medical devices, diagnostics, robotic surgery, imaging, digital health, FDA and international clearances, reimbursement, hospital deployments and manufacturing scale. Coverage follows a evidence-based, regulatory, patient-centered perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors. Articles authored by Elena Rossi are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.