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Medtronic plcMDT

Sector
Healthcare
Industry
Electromedical & Electrotherapeutic Apparatus
Exchange
NYSE

Stock Price $MDT

Latest filings

You are here#16 of 40 in Healthcare by market cap

Filing record · 2016–202610-K1110-Q328-K120

MDT filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 120 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Material agreement8-K · Jul ’19Jul ’19
  3. Leadership change8-K · Dec ’21Dec ’21
  4. Leadership change8-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026
Source: 10-KFY2026

Revenue Trend

Year-over-year comparison from 10-K annual reports

  14. $36.36B
YoY changeLargest recent move−5.4%in FY20Latest +8.4%

Latest bar from 10-KFY2026Click a bar to open its SEC filing

View full history →
All MDT Financial Metrics60 metrics

Income Statement15

Balance Sheet25

Cash Flow15

Per Share5

02—Overview

Medtronic plc Financial Overview 2022–2026

Updated Jul 10, 2026

Medtronic finalized the initial public offering of its Diabetes unit in FY2026 precisely as the segment delivered a standout 13% revenue surge to $3.1 billiona. This strategic separation defines the core investment thesis: the medical technology giant is actively shedding peripheral lines to focus operational capital on its largest, most dominant device franchises.

Despite early supply chain disruptions, total revenue grew from $31.7 billion in FY2022 to $36.4 billionb in FY2026. This top-line expansion was heavily anchored by the Cardiovascular portfolio, which posted a 12% net sales increase to reach $14.0 billion in FY2026 behind strong adoption of transcatheter aortic valve replacements and pacing systems. The company maintained strict cash discipline throughout this structural transition. Medtronic consistently generated deep liquidity, securing $5.4 billion in free cash flow in FY2026 following a massive $3.2 billion deployment for share repurchases during FY2025.

The market carefully weighed these portfolio adjustments against rising tariff and restructuring costs. At the close of FY2026, the stock traded at 22.3x earnings at $83.32c per share. This translated to a $106.7 billion market cap, slightly contracting from the 23.3x multiple and $107.9 billion valuation the company commanded at the end of FY2025.

Recent Developments (Q3 and Q4 2026)

Medtronic accelerated top-line growth in Q3 2026, driving a 9% net sales increase to $9.0 billiond. Earnings pressure persisted as Q3 2026 diluted EPS dropped to $0.89 from $1.01 year-over-year due to tariff duties and asset write-offs. To bolster its coronary portfolio, the company advanced an acquisition of CathWorks Ltd. for up to $585 million. In Q4 2026, Medtronic secured early FDA clearance for its MiniMed Flex insulin pump, triggering a $157 million development charge that reduced quarterly EPS by $0.08.

Leadership changes also took hold, with Dr. Kweli Thompson replacing Brett Wall as head of the $10.3 billione Neuroscience portfolio effective June 1, 2026. Bulls argue that early MiniMed Flex commercialization and targeted acquisitions will accelerate future expansion. Bears warn that recurring write-offs, an April 2026 IT system breach, and downwardly revised FY2026 non-GAAP EPS guidance of $5.50 to $5.54 reflect ongoing operational friction. Shares traded at 21.3x earnings as of June 18, 2026.

What to watch: MiniMed Flex commercial launch metrics; remediation costs from the April 2026 cybersecurity breach.

03—Filings

Recent SEC Filings

  1. 8-KMedtronic plc 8-K Report, Executive Changes (Oct 19, 2026)Medtronic plc (MDT) filed an 8-K on October 19, 2026, detailing significant corporate governance and strategic updates. The report announces the appointment of Michael Marinaro to the newly expanded role of President, Medtronic, effective October 14, 2026. This promotion includes increased responsibilities, such as oversight of Greater China operations, and is accompanied by a substantial compensation package, reflecting his expanded influence within the company. The filing also confirms the successful completion of Medtronic's separation from MiniMed Group, Inc., finalized on October 15, 2026, through an exchange offer. Furthermore, the 8-K provides the voting results from Medtronic's Annual General Meeting held on October 15, 2026. Key outcomes include the re-election of all twelve director nominees, ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2027, and shareholder approval for executive compensation. The meeting also saw shareholders renew the Board's authority to issue shares and opt out of pre-emption rights, as well as authorize overseas market purchases of Medtronic ordinary shares. These developments signal both leadership continuity and strategic repositioning for Medtronic.
  2. 8-KMedtronic plc 8-K Report, Corporate Update (Sep 17, 2026)Medtronic plc (MDT) filed an 8-K on September 17, 2026, to provide an important correction to its previously filed Prospectus related to the ongoing offer to exchange outstanding Medtronic ordinary shares for newly issued common stock of its subsidiary, MiniMed Group, Inc. The primary purpose of this filing is to correct a typographical error concerning the expiration time of the guaranteed delivery procedures for tendering Medtronic shares in the exchange offer. This correction clarifies that the period for guaranteed delivery expires at 5:00 p.m. New York City time on the second NYSE trading day after the notice of guaranteed delivery is executed, rather than midnight as initially stated. This amendment ensures accurate communication to investors participating in the exchange offer, which allows them to tender Medtronic ordinary shares for up to 225,361,295 shares of MiniMed common stock. While the core terms of the exchange offer remain unchanged, this clarification is crucial for potential participants to properly execute their tender decisions within the specified timelines. Investors are strongly encouraged to review the corrected Prospectus and other relevant filings for complete details and to make informed decisions.
  3. 8-KMedtronic plc 8-K Report, Financial Results (Sep 1, 2026)Medtronic plc (NYSE: MDT) reported first quarter fiscal 2027 results (quarter ended July 31, 2026) that beat its own guidance and led the company to raise full-year guidance. Reported and organic revenue each grew 13.7% to $9.756 billion, roughly 200 basis points above the guidance midpoint. GAAP diluted EPS was $1.14, up 40.7%, while non-GAAP diluted EPS was $1.45, up 15.1%. Management attributes the outperformance to breadth across the portfolio, not just one franchise. Cardiovascular grew 18.9% organically, led by 88% growth in Cardiac Ablation Solutions and 15% growth in Cardiac Rhythm Management. Neuroscience grew 9.3% and Medical Surgical grew 10.2%. Investors should weigh two points when reading the headline growth. First, the quarter included a 53rd (extra) week in the first fiscal month, which the company estimates added about $570 million, or roughly 6.6 points, to Q1 organic growth. Second, the company's FY27 guidance was raised modestly: organic revenue growth rises 50 basis points to 7.25%–7.75%, and non-GAAP EPS guidance moves to $5.94–$6.00 from $5.90–$6.00, with a neutral to 1% accretive currency benefit. The EPS raise is small relative to the revenue raise, so the implied margin or cost outlook is less changed than the top line. Other items of note include the Scientia Vascular and SPR Therapeutics acquisitions, which closed in the quarter, and the Pi-Cardia strategic investment. Free cash flow was $1.29 billion, up from $584 million a year earlier. The company also reiterated that the Diabetes separation is still in progress, with a split-off as the current preferred structure but no final decision yet. This 8-K furnishes the earnings press release under Item 2.02 and does not itself contain new financial statements or forward-looking commitments beyond the release.
  4. 8-KMedtronic plc 8-K Report, Financial Results (Jun 3, 2026)Medtronic plc (MDT) reported fourth quarter and fiscal year 2026 results (year ended April 24, 2026), highlighting its strongest annual top-line growth in roughly a decade. FY26 revenue was $36.4 billion, up 8.4% as reported and 5.8% organic. Q4 revenue of $9.8 billion grew 9.9% reported and 6.6% organic, about 90 basis points ahead of implied guidance. Cardiovascular was the main driver, with Cardiac Ablation Solutions up 78% globally (124% in the U.S.) and Cardiac Rhythm & Heart Failure up high-teens organically, helped by Micra and the OmniaSecure launch. Medical Surgical grew 5.1% organically and Neuroscience grew 3.0%. Profitability was more mixed. Non-GAAP diluted EPS for FY26 was $5.53, up only 0.7% (down 2.0% in constant currency), and non-GAAP operating margin fell 130 basis points to 24.4%. Q4 non-GAAP EPS of $1.55 declined 4.3% year over year, with margin pressured by a 160 bp MiniMed Blackstone payment and 80 bp of tariffs. GAAP results were stronger, with Q4 GAAP diluted EPS of $0.96 up 17.1%, largely reflecting lower amortization and litigation charges and a favorable other non-operating item. Free cash flow was $5.4 billion, up 4.6%, and the company returned $4.2 billion to shareholders. Looking ahead, management guided FY27 organic revenue growth of 6.75% to 7.25% and non-GAAP diluted EPS of $5.90 to $6.00 (6.7% to 8.5% growth). The outlook includes a 53rd week, full-year consolidation of Diabetes (MiniMed), increased M&A, and tariff and interest headwinds. The board also raised the quarterly dividend to $0.72 (annualized $2.88), the 49th consecutive annual increase. The company continues to plan a separation of its Diabetes business, with an offering and split-off currently preferred but not finalized.
  5. 8-KMedtronic plc 8-K Report, Executive Changes (May 18, 2026)Medtronic plc (MDT) has filed an 8-K report on May 18, 2026, to announce a significant leadership transition within its Neuroscience Portfolio. Brett Wall is departing from his role as Executive Vice President and President, Neuroscience Portfolio. While he will remain with the company until September 1, 2026, to ensure a smooth handover, his departure marks a change in leadership for this key division. Dr. Kweli Thompson, currently Senior Vice President and President of Cardiac Rhythm Management, will assume the leadership of the Neuroscience Portfolio starting June 1, 2026. Investors should monitor the performance and strategic direction of the Neuroscience Portfolio under Dr. Thompson's leadership.
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04—See also

Related Companies

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