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MDT SEC Filings

Medtronic plc - 177 total filings

Showing 1–50 of 177 filings
8-K

Medtronic plc 8-K Report, Financial Results (Feb 17, 2026)

Feb 17, 2026

Medtronic plc (MDT) has filed an 8-K report on February 17, 2026, to announce its third quarter fiscal year 2026 financial results. The primary purpose of this filing is to furnish the press release detailing these results, which were released on the same day. Investors should review the press release (Exhibit 99.1) for specific performance metrics, revenue figures, profitability, and any forward-looking statements or guidance provided by the company for the remainder of the fiscal year. This report serves as the official notification of the company's recent financial performance. While the 8-K itself is brief, it directs investors to the comprehensive financial data contained within the furnished press release. Key areas of interest for investors will likely include the performance of Medtronic's various business segments, comparisons to analyst expectations, and any commentary on the macroeconomic or industry-specific factors impacting the results. Understanding these details is crucial for assessing Medtronic's current financial health and future prospects.

10-Q

Medtronic plc Quarterly Report for Q2 Ended Oct 24, 2025

Nov 25, 2025

Medtronic plc (MDT) reported a strong second quarter for fiscal year 2026, with net sales increasing by 7% to $8.96 billion and diluted earnings per share rising to $1.07 from $0.99 in the prior year period. The company demonstrated robust revenue growth across most of its key segments, including Cardiovascular, Neuroscience, and Medical Surgical, driven by strong product adoption and positive currency impacts. For the first six months of the fiscal year, net sales grew 8% year-over-year to $17.54 billion, with diluted EPS of $1.87. Free cash flow remained solid, totaling $1.04 billion for the first six months, indicating effective operational management. While the company navigated an evolving global economic landscape, including tariff impacts and geopolitical uncertainties, its diversified portfolio and strategic initiatives, such as the planned separation of its Diabetes business, position it for continued performance. Management highlighted investments in R&D and efforts to manage SG&A expenses, supporting long-term growth and shareholder value. The company's financial position remains strong, with ample liquidity to fund operations and strategic initiatives.

8-K

Medtronic plc 8-K Report, Financial Results (Nov 18, 2025)

Nov 18, 2025

Medtronic plc (MDT) has filed a Form 8-K on November 18, 2025, to report its second quarter fiscal year 2026 financial results. The filing primarily consists of a press release containing these results, which is furnished as an exhibit. Investors should refer to the accompanying press release (Exhibit 99.1) for the detailed financial performance and operational highlights for the quarter ended November 17, 2025. While the 8-K itself does not provide the specific financial figures, it serves as the official notification of the release of this important information. Key metrics such as revenue, earnings per share (EPS), and segment performance, along with management's commentary on business outlook and strategic progress, will be found within the press release. Investors are encouraged to review this document thoroughly to understand Medtronic's current financial health and future prospects.

8-K

Medtronic plc 8-K Report, Executive Changes (Nov 3, 2025)

Nov 3, 2025

Medtronic plc announced on November 2, 2025, that its Executive Vice President, Enterprise Operations, Gregory L. Smith, will retire from the company effective December 2, 2025. Mr. Smith's departure marks a leadership transition within the company's operations segment. Investors should note that his retirement triggers specific provisions regarding his outstanding equity compensation, as detailed in the company's filings.

8-K

Medtronic plc 8-K Report, Bylaw Amendment (Oct 21, 2025)

Oct 21, 2025

Medtronic plc (MDT) filed an 8-K detailing the outcomes of its Annual General Meeting held on October 16, 2025. The primary focus of this report is the shareholder approval of significant amendments to the company's Articles of Association. These amendments, effective October 16, 2025, include modifications to Article 177 to enable the Board of Directors to capitalize non-distributable reserves for the creation of additional distributable reserves, and updates to the company's advance notice provisions for shareholder proposals. Beyond the governance-related changes, the meeting also saw shareholders overwhelmingly re-elect all twelve director nominees. Furthermore, investors ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2026 and approved the compensation of named executive officers in advisory votes. The company also secured shareholder approval for renewing the Board's authority to issue shares and opt out of pre-emption rights, along with authorizing overseas market purchases of Medtronic ordinary shares. A capital reduction to create distributable reserves under Irish Law was also approved.

8-K

Medtronic plc 8-K Report, Material Agreement (Sep 29, 2025)

Sep 29, 2025

Medtronic plc (MDT) has filed an 8-K report detailing a significant debt offering and the redemption of existing notes. On September 29, 2025, an indirect wholly owned subsidiary, Medtronic, Inc., successfully issued €1.5 billion in aggregate principal amount of senior notes, split between 2.950% Senior Notes due 2030 and 4.200% Senior Notes due 2045. These new notes are fully and unconditionally guaranteed by Medtronic Global Holdings S.C.A. and Medtronic plc. The primary purpose of this offering is to refinance existing debt. Medtronic, Inc. expects to use the net proceeds of approximately €1.49 billion to repay Medtronic Luxco's 0.000% Senior Notes due 2025 and its 2.625% Senior Notes due 2025. Concurrently, Medtronic Luxco has redeemed all outstanding €500 million of its 2.625% Senior Notes due 2025, with this redemption being contingent on the successful completion of the new notes issuance. This strategic debt management indicates Medtronic's effort to optimize its capital structure and extend its debt maturity profile.

8-K

Medtronic plc 8-K Report, Regulation FD Disclosure (Sep 16, 2025)

Sep 16, 2025

Medtronic plc (MDT) has filed an 8-K detailing the pricing and issuance of new senior notes, alongside the redemption of existing notes. The company will issue €1.5 billion in aggregate principal amount of new senior notes, consisting of €750 million due 2030 at 2.950% and €750 million due 2045 at 4.200%. These new notes are guaranteed by Medtronic plc and Medtronic Luxco. The net proceeds from this offering are earmarked to repay Medtronic Luxco's maturing 0.000% and 2.625% Senior Notes due 2025. Specifically, Medtronic Luxco has elected to redeem all outstanding €500 million of its 2.625% Senior Notes due 2025 on September 29, 2025, at a price of 100% of the principal plus accrued interest. The redemption is contingent on the successful completion of the new notes issuance. This refinancing activity was previously factored into Medtronic's reiterated fiscal year 2026 adjusted earnings per share guidance.

10-Q

Medtronic plc Quarterly Report for Q1 Ended Jul 25, 2025

Aug 26, 2025

Medtronic plc reported net sales of $8.578 billion for the three months ended July 25, 2025, an 8% increase compared to the prior year period. This growth was driven by strong performance across most business segments, particularly Cardiovascular and Diabetes, with notable contributions from Cardiac Rhythm & Heart Failure, Structural Heart & Aortic, and the MiniMed 780G AID system. Net income attributable to Medtronic remained relatively flat at $1.040 billion ($0.81 diluted EPS) compared to $1.042 billion ($0.80 diluted EPS) in the prior year. The company's operational cash flow saw a healthy increase to $1.088 billion. Medtronic also highlighted progress in managing its cost structure and continued investment in research and development to drive future innovation, while navigating macroeconomic uncertainties such as tariffs.

8-K

Medtronic plc 8-K Report, Financial Results (Aug 19, 2025)

Aug 19, 2025

Medtronic plc (MDT) has filed a Form 8-K detailing its first quarter fiscal year 2026 financial results, announced via press release on August 19, 2025. While the specific financial figures are not detailed within this 8-K filing itself but rather in the furnished press release (Exhibit 99.1), this report signals the company's performance update for the period ending August 2025. Investors should refer to the separate earnings release for critical financial metrics such as revenue, earnings per share, and segment performance. In addition to the financial update, the company announced a significant change to its Board of Directors. Effective August 19, 2025, the Board's size has been expanded from 11 to 13 members with the appointment of two new directors, John Groetelaars and William Jellison. Both new directors will receive standard non-employee director compensation, including cash retainers and equity grants, as per the company's policy. Mr. Jellison has been appointed to newly formed Growth and Operations committees, while Mr. Groetelaars will serve on the Growth committee. These board changes, announced via a separate press release (Exhibit 99.2), aim to bolster the board's oversight and strategic direction.

8-K

Medtronic plc 8-K Report, Executive Changes (Jun 23, 2025)

Jun 23, 2025

Medtronic plc (MDT) announced a change to its Board of Directors, appointing Dr. Joon Lee as a new director. This appointment increases the size of the Board from 10 to 11 members, effective June 18, 2025. Dr. Lee will contribute to the company's strategic oversight by serving on both the Science and Technology Committee and the Compensation and Talent Committee. This addition to the Board signifies Medtronic's commitment to strengthening its governance and leveraging specialized expertise. Investors should note that Dr. Lee's compensation will follow the company's standard non-employee director compensation policy, including an annual cash retainer and equity grants. The filing confirms no related-party transactions or special arrangements concerning Dr. Lee's appointment, indicating a standard governance update.

10-K

Medtronic plc Annual Report, Year Ended Apr 25, 2025

Jun 20, 2025

Medtronic plc (MDT) reported its fiscal year 2025 results, demonstrating continued growth across its diverse medical technology portfolios. The company generated total net sales of $33.5 billion, a 4% increase year-over-year, driven by strong performance in the Cardiovascular and Neuroscience segments, with notable contributions from Cardiac Ablation Solutions, TAVR, Neuromodulation, and Spine products. The Diabetes Operating Unit also saw significant growth, albeit with plans for a future separation into an independent company. Financially, Medtronic maintained a strong liquidity position with $7.0 billion in operating cash flow and $5.2 billion in free cash flow. The company continued its commitment to shareholder returns through dividends and share repurchases, underscoring a stable financial footing. While facing some headwinds such as potential tariff impacts and ongoing litigation, Medtronic's strategic focus on innovation, patient outcomes, and leveraging technology like AI positions it for sustained growth in the dynamic healthcare landscape.

8-K

Medtronic plc 8-K Report, Financial Results (May 21, 2025)

May 21, 2025

Medtronic plc (MDT) filed an 8-K on May 21, 2025, reporting its fourth quarter and full fiscal year 2025 financial results. While specific financial figures are not detailed in this 8-K, the release of this information suggests a review of the company's operational performance and financial condition. Investors should refer to the furnished press release (Exhibit 99.1) for the detailed financial outcomes. Significantly, the filing also announced a major strategic shift: Medtronic intends to separate its Diabetes business into a new, standalone public company. This move indicates a focus on streamlining operations and potentially unlocking value for shareholders by allowing each business segment to operate with greater strategic flexibility. Additionally, the company disclosed a leadership change within its Cardiovascular Portfolio, with Sean Salmon departing and Skip Kiil assuming the role of EVP and President, Cardiovascular Portfolio, effective May 21, 2025. Mr. Salmon will remain with the company until September 2, 2025, and will receive severance in line with company policy.

8-K

Medtronic plc 8-K Report, Executive Changes (Mar 17, 2025)

Mar 17, 2025

Medtronic plc (MDT) announced a leadership transition within its finance department. Jennifer M. Kirk, the Global Controller and Principal Accounting Officer, has resigned effective May 2, 2025, to pursue a CEO role at a private company, Exubrion Therapeutics. Investors should note that Ms. Kirk's departure is not attributed to any disagreements regarding Medtronic's operations or policies. To ensure a seamless handover, Denise L. Blomquist, currently the Assistant Global Controller, has been appointed as the new Global Controller and Principal Accounting Officer, effective March 17, 2025. Ms. Blomquist brings extensive experience to the role, having been with Medtronic for 21 years in various finance positions. Her compensation will align with industry standards, including participation in the company's incentive and long-term incentive plans.

10-Q

Medtronic plc Quarterly Report for Q3 Ended Jan 24, 2025

Feb 25, 2025

Medtronic plc reported solid financial results for the nine months ended January 24, 2025, with net sales reaching $24.6 billion, a 4% increase compared to the prior year, driven by growth across most business segments, particularly in Cardiac Rhythm & Heart Failure, Diabetes, and Neuromodulation. Diluted earnings per share (EPS) for the nine-month period were $2.79, a significant increase from $2.27 in the prior year, reflecting improved profitability. The company generated strong operating cash flow of $4.5 billion and free cash flow of $3.1 billion for the nine months, underscoring its financial health and ability to fund operations and shareholder returns. Medtronic's liquidity remains robust, with $1.2 billion in cash and cash equivalents and $6.7 billion in current investments as of January 24, 2025. Key operational highlights include continued strong performance in the Cardiovascular and Neuroscience portfolios, with notable growth in specific product lines such as the MiniMed 780G insulin pump system and the Inceptiv spinal cord stimulator. The company also reported progress in new product adoption, such as the Evolut FX+ TAVR system and the Aurora Extravascular ICD system. While facing some headwinds in Medical Surgical segments, the overall sales trajectory and profitability improvements indicate a positive operational performance. Investors should monitor Medtronic's ongoing product innovation, geographic expansion, and its ability to navigate competitive pressures and macroeconomic factors, as highlighted in the MD&A, which could influence future performance.

8-K

Medtronic plc 8-K Report, Financial Results (Feb 18, 2025)

Feb 18, 2025

Medtronic plc (MDT) has filed a Form 8-K with the SEC on February 18, 2025, to report its third quarter fiscal year 2025 financial results. The filing primarily serves to furnish the press release containing these results, which was issued on the same date. Investors should refer to the press release, provided as Exhibit 99.1, for detailed financial performance data, including revenue, earnings, and any forward-looking guidance or commentary provided by the company. While the 8-K itself is a brief procedural filing, the associated press release will contain the critical operational and financial metrics that investors will use to assess Medtronic's performance against expectations and to make informed investment decisions. Key areas to scrutinize in the press release will include segment performance, growth drivers, profitability trends, and management's outlook for the remainder of fiscal year 2025 and beyond.

8-K

Medtronic plc 8-K Report, Executive Changes (Jan 21, 2025)

Jan 21, 2025

Medtronic plc (MDT) has announced a significant leadership change with the appointment of Thierry Pieton as its new Executive Vice President and Chief Financial Officer (CFO), effective March 3, 2025. Mr. Pieton brings extensive global finance experience, including nearly 16 years at General Electric and most recently serving as CFO at Renault. This appointment signals a strategic move to leverage his operational finance expertise for Medtronic's future growth and financial stewardship. Investors should note the comprehensive compensation package designed to attract Mr. Pieton, which includes a substantial base salary, performance-based incentive plans, and significant long-term equity awards totaling $4.5 million in initial grants (including a $2 million LTIP award and a $2.5 million New Hire RSU). This investment in leadership underscores the company's commitment to strengthening its financial team. Additionally, the filing confirms Gary Corona's continued role as Interim CFO until Mr. Pieton's effective date, recognizing his contributions with a $1 million RSU grant.

10-Q

Medtronic plc Quarterly Report for Q2 Ended Oct 25, 2024

Nov 26, 2024

Medtronic plc (MDT) reported strong financial results for the period ending October 25, 2024, showcasing a notable increase in both revenue and net income compared to the prior year. Net sales grew to $8.403 billion for the quarter and $16.318 billion for the six-month period, representing a 5% and 4% increase, respectively. Diluted earnings per share (EPS) rose significantly to $0.99 for the quarter and $1.79 for the six months, up from $0.68 and $1.28 in the prior year, respectively. This performance was driven by robust growth across key segments, including Cardiovascular, Neuroscience, and Diabetes, with specific product lines like the MiniMed 780G insulin pump system and structural heart devices showing particularly strong adoption. The company also demonstrated improved operational efficiency, with net cash provided by operating activities increasing to $1.944 billion for the six months ended October 25, 2024, contributing to a free cash flow of $1.020 billion. Medtronic successfully managed its debt, issuing €3.0 billion in Euro-denominated senior notes to enhance its financial flexibility, while continuing its share repurchase program. Despite some ongoing legal and regulatory matters, the company maintains a strong liquidity position and believes it is well-positioned to meet its operational needs and pursue strategic growth initiatives.

8-K

Medtronic plc 8-K Report, Financial Results (Nov 19, 2024)

Nov 19, 2024

Medtronic plc filed an 8-K on November 19, 2024, to report its second quarter fiscal year 2025 financial results, as detailed in a press release furnished as Exhibit 99.1. This filing primarily serves as a notification mechanism for the market regarding the company's performance during the latest reported quarter. Investors should refer to the accompanying press release for the specific financial details, including revenue, earnings per share, and segment performance, which are crucial for assessing the company's operational health and strategic execution. While the 8-K itself is brief, it directs stakeholders to the comprehensive financial information within the press release. This release will contain management's commentary on the results, outlook for the remainder of the fiscal year, and potentially any significant business developments. Investors are advised to examine these details to understand the drivers of the reported financial outcomes and to evaluate Medtronic's trajectory relative to its guidance and industry peers.

8-K

Medtronic plc 8-K Report, Shareholder Vote Results (Oct 21, 2024)

Oct 21, 2024

Medtronic plc (MDT) filed an 8-K on October 21, 2024, detailing the outcomes of its 2024 Annual General Meeting of Shareholders held on October 17, 2024. The meeting saw strong shareholder support for all proposals presented, indicating alignment between management and its investors on key corporate governance matters. All ten director nominees were elected, the appointment of PricewaterhouseCoopers LLP as the independent auditor for FY2025 was ratified, and executive compensation received advisory approval. Furthermore, shareholders renewed the Board's authority to issue shares, opt out of pre-emption rights, and to conduct overseas market purchases of Medtronic ordinary shares. The substantial 'FOR' votes across all resolutions, with a quorum of over a majority of outstanding shares present, underscores robust shareholder confidence and engagement.

10-Q

Medtronic plc Quarterly Report for Q1 Ended Jul 26, 2024

Aug 27, 2024

Medtronic plc reported a strong quarter, with net sales increasing by 3% year-over-year to $7.9 billion for the three months ended July 26, 2024. This growth was driven by solid performance across key segments, including Cardiovascular and Diabetes. Diluted earnings per share (EPS) saw a significant increase to $0.80 from $0.59 in the prior year period, reflecting improved profitability. The company generated robust operating cash flow of $986 million, underscoring its strong operational execution. Medtronic also continued to return capital to shareholders through dividends and share repurchases, demonstrating a commitment to shareholder value. The company's financial position remains strong, with ample liquidity to fund operations and strategic initiatives.

8-K

Medtronic plc 8-K Report, Financial Results (Aug 20, 2024)

Aug 20, 2024

Medtronic plc (MDT) has filed an 8-K report on August 20, 2024, furnishing a press release detailing its first-quarter fiscal year 2025 financial results. This filing is crucial for investors as it provides the latest performance data for the company. While the 8-K itself doesn't contain the detailed financial figures, it directs investors to the accompanying press release (Exhibit 99.1) for the specific revenue, profit, and segment performance numbers. Investors should review this press release to understand Medtronic's current financial health and operational achievements for the quarter ending in July 2024.

8-K

Medtronic plc 8-K/A Report, Executive Changes (Aug 16, 2024)

Aug 16, 2024

Medtronic plc (MDT) has filed an 8-K/A amendment to its previous filing, providing updated details on the compensatory arrangement for its interim Chief Financial Officer, Gary Corona. This amendment clarifies the financial incentives put in place following his appointment, which was previously announced. Investors should note the specific cash stipend and equity grant designed to compensate Mr. Corona during his interim role. The key takeaways for investors revolve around the financial terms of Mr. Corona's interim CFO position. These include a substantial bi-weekly cash stipend and a significant RSU grant, which are designed to incentivize and compensate him for taking on this critical role. While his base salary, target bonus, and existing long-term incentive grant remain unchanged, the new arrangements provide a clear picture of the additional compensation tied to his interim CFO responsibilities.

8-K

Medtronic plc 8-K Report, Executive Changes (Jun 26, 2024)

Jun 26, 2024

Medtronic plc announced a significant leadership change in its finance department via an 8-K filing on June 26, 2024. Karen L. Parkhill, Executive Vice President and Chief Financial Officer, has decided to resign from her position, with her departure effective August 2, 2024. This marks the end of her tenure with the company. In response to Ms. Parkhill's departure, Medtronic has appointed Gary Corona as the interim Chief Financial Officer, effective August 2, 2024. Mr. Corona currently serves as Senior Vice President, Global Financial Planning and Analysis and has been with Medtronic since January 2023. He brings extensive experience from his previous 26-year tenure at General Mills, Inc. The company has also furnished a press release detailing these changes, which is attached as an exhibit to the filing.

10-K

Medtronic plc Annual Report, Year Ended Apr 26, 2024

Jun 20, 2024

Medtronic plc reported solid performance in its fiscal year 2024, with total net sales increasing by 4% to $32.36 billion. The company's growth was driven by its Neuroscience Portfolio (up 5%), Medical Surgical Portfolio (up 5%), and particularly its Diabetes Operating Unit (up 10%). Key product areas showing strength include Cardiac Rhythm & Heart Failure, Coronary & Peripheral Vascular, Cranial & Spinal Technologies, and Surgical & Endoscopy divisions. Financially, Medtronic demonstrated strong operating cash flow and free cash flow, with free cash flow reaching $5.2 billion. The company also returned value to shareholders through dividends and share repurchases, authorizing an additional $5.0 billion for repurchases. Despite global economic uncertainties and some product-specific challenges, Medtronic's diversified business segments and international presence contributed to resilient growth. The company continues to invest in innovation, with R&D expenses remaining consistent year-over-year.

8-K

Medtronic plc 8-K Report, Executive Changes (Jun 4, 2024)

Jun 4, 2024

Medtronic plc (MDT) announced the retirement of Rob ten Hoedt, Executive Vice President and President of Global Regions, effective June 28, 2024. This departure marks a significant leadership change within the company's international operations. While the filing itself is brief, it signals the need for investors to monitor the transition process and the company's strategic adjustments in its global markets. Investors should pay close attention to any subsequent announcements regarding Mr. ten Hoedt's successor and the operational plans for the Global Regions segment moving forward.

8-K

Medtronic plc 8-K Report, Material Agreement (Jun 3, 2024)

Jun 3, 2024

Medtronic plc, through its indirect wholly owned subsidiary Medtronic, Inc., has successfully completed a significant debt offering, raising approximately €2.97 billion. This offering comprises four series of senior notes due in 2029, 2036, 2043, and 2053, with coupon rates ranging from 3.650% to 4.150%. These notes are fully guaranteed by Medtronic Global Holdings S.C.A. and Medtronic plc, providing an additional layer of credit support for investors. The net proceeds are intended for general corporate purposes, including the potential repayment of outstanding commercial paper and other existing indebtedness. This strategic move suggests Medtronic is actively managing its capital structure and may be refinancing existing debt, potentially at more favorable terms or extending its debt maturity profile. The company has applied to list these new notes on the New York Stock Exchange, enhancing their liquidity and accessibility for investors.

8-K

Medtronic plc 8-K Report, Financial Results (May 23, 2024)

May 23, 2024

Medtronic plc filed an 8-K on May 22, 2024, to announce its full-year and fourth-quarter fiscal year 2024 financial results. This filing primarily serves to attach the official press release detailing these results, which was issued on May 23, 2024. Investors should refer to the press release (Exhibit 99.1) for specific financial performance data, including revenue, profit margins, earnings per share, and guidance for the upcoming fiscal year. The 8-K itself does not contain the detailed financial figures but directs stakeholders to the comprehensive information provided in the accompanying press release.

10-Q

Medtronic plc Quarterly Report for Q3 Ended Jan 26, 2024

Feb 27, 2024

Medtronic plc reported robust financial performance for the nine months ended January 26, 2024, with net sales increasing by 5% to $23.78 billion and net income attributable to Medtronic rising by 17% to $3.02 billion. This growth was driven by strong performance across its key segments, including Cardiovascular, Neuroscience, Medical Surgical, and Diabetes. The company also demonstrated healthy operational cash flow, generating $4.01 billion for the nine-month period, a significant increase from the prior year. Looking ahead, Medtronic continues to focus on innovation and strategic growth initiatives, including new product launches and expanding its market presence globally. The company remains committed to returning value to shareholders through share repurchases and dividends, while maintaining a strong financial position to fund future investments and navigate market dynamics.

8-K

Medtronic plc 8-K Report, Financial Results (Feb 20, 2024)

Feb 20, 2024

Medtronic plc announced its third-quarter fiscal year 2024 financial results on February 20, 2024. This 8-K filing primarily details operational changes and executive transitions alongside the financial results announcement. Investors should note the company's strategic decision to wind down and exit the ventilator business. This move will lead to the consolidation of remaining businesses within the Patient Monitoring and Respiratory Interventions units into a single operating unit. As a consequence of these operational shifts, Robert J. White, Executive Vice President and President of Medtronic’s Medical Surgical Portfolio, will be leaving the company effective April 26, 2024. His departure is classified as a termination without cause, and he will receive severance payments and benefits in line with Medtronic's established executive severance practices. While the 8-K itself doesn't provide the specific Q3 financial figures, it directs investors to the press release (Exhibit 99.1) for detailed results.

8-K

Medtronic plc 8-K Report, Corporate Update (Dec 6, 2023)

Dec 6, 2023

Medtronic plc (MDT) announced on December 6, 2023, that it has terminated its previously announced definitive agreements to acquire EOFlow Co. Ltd. The termination follows multiple alleged breaches of the agreements by EOFlow. Medtronic has stated that it does not believe any termination fee is payable under the terms of the agreements. This decision is significant as it halts a key strategic acquisition intended to bolster Medtronic's diabetes business. Importantly, Medtronic has clarified that this termination will not impact its previously issued fiscal year 2024 adjusted earnings per share guidance. The company remains committed to its automated insulin dosing product pipeline, including the development of a differentiated patch pump. Investors should note that this termination reflects Medtronic's disciplined approach to deal-making and its commitment to its strategic priorities, even when a transaction does not proceed as planned.

10-Q

Medtronic plc Quarterly Report for Q2 Ended Oct 27, 2023

Nov 30, 2023

Medtronic plc reported solid financial results for the second quarter of fiscal year 2024, with net sales increasing by 5% to $7.98 billion and diluted earnings per share (EPS) of $0.68 compared to $0.32 in the prior year quarter. For the six-month period, net sales grew 5% to $15.69 billion, and diluted EPS was $1.28, up from $1.02 in the prior year. The company demonstrated continued revenue growth across its key segments, including Cardiovascular, Neuroscience, Medical Surgical, and Diabetes, driven by strong performance in specific product lines like Micra, TAVR, Core Spine, and the MiniMed 780G insulin pump system. Despite facing inflationary pressures and supply chain challenges, Medtronic maintained its commitment to innovation and strategic growth initiatives, including pending acquisitions and new product launches, positioning the company for sustained performance.

8-K

Medtronic plc 8-K Report, Financial Results (Nov 21, 2023)

Nov 21, 2023

Medtronic plc (MDT) filed an 8-K on November 21, 2023, to announce its second quarter fiscal year 2024 financial results. The primary purpose of this filing is to furnish the press release detailing these results, which were issued on the same date. Investors should review the furnished press release for comprehensive details on the company's performance during the quarter, including revenue, earnings, and any significant business updates or segment performance. This 8-K serves as the official notification of these results to the market.

8-K

Medtronic plc 8-K Report, Executive Changes (Oct 23, 2023)

Oct 23, 2023

This 8-K filing from Medtronic plc details the outcomes of their 2023 Annual General Meeting of Shareholders held on October 19, 2023. The most significant news for investors is the shareholder approval of the Medtronic plc 2024 Employee Stock Purchase Plan (2024 Plan). This new plan will replace the existing 2014 Plan and makes available 30 million ordinary shares, with the first purchase period commencing January 1, 2024. Additionally, all director nominees were elected, the appointment of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2024 was ratified, and executive compensation was approved on an advisory basis. The company also secured shareholder approval for the renewal of the Board's authority to issue shares, opt out of pre-emption rights, and conduct overseas market purchases of its shares, which are important for strategic financial flexibility.

10-Q

Medtronic plc Quarterly Report for Q1 Ended Jul 28, 2023

Aug 31, 2023

Medtronic plc reported solid revenue growth for the first quarter of fiscal year 2024, with net sales increasing by 5% year-over-year to $7.7 billion. This growth was primarily driven by strong performance across its Cardiovascular and Neuroscience segments, with notable contributions from key products like Micra, TAVR systems, and Spine & Biologics. Diluted earnings per share (EPS) saw a decrease to $0.59 from $0.70 in the prior year period, impacted by a significant $187 million income tax charge related to an Israeli court decision, among other factors. The company maintained a strong liquidity position with $1.3 billion in cash and cash equivalents. Despite facing ongoing macroeconomic challenges, including inflation and supply chain pressures, Medtronic demonstrated resilience and strategic progress, including a pending acquisition of EOFlow to bolster its Diabetes segment. Key financial highlights include a 5% increase in total net sales to $7.7 billion, with the Cardiovascular segment leading growth at 6% and Neuroscience at 5%. The company also reported a 6% increase in Medical Surgical sales and a 7% increase in Diabetes sales, signaling broad-based demand. Free cash flow remained robust at $521 million, underscoring operational efficiency. However, investors should note the decrease in EPS and the increased effective tax rate primarily due to the aforementioned tax charge, which temporarily impacted profitability. Medtronic continues to invest in innovation and strategically expand its product portfolio.

8-K

Medtronic plc 8-K Report, Financial Results (Aug 22, 2023)

Aug 22, 2023

Medtronic plc filed an 8-K on August 22, 2023, to furnish its press release announcing its first quarter fiscal year 2024 financial results. While the filing itself doesn't contain the detailed financial performance data, it directs investors to the accompanying press release (Exhibit 99.1) for this crucial information. Investors should refer to that press release for specifics on revenue, earnings, segment performance, and any forward-looking guidance provided by the company for the first quarter of FY2024.

8-K

Medtronic plc 8-K Report, Executive Changes (Jun 26, 2023)

Jun 26, 2023

Medtronic plc (MDT) announced a change to its Board of Directors, appointing Greg Lewis as a new director effective June 26, 2023. This appointment increases the size of the Board from 11 to 12 members. Mr. Lewis will also serve on the Audit committee and the Finance and Financial Risk committee, bringing his expertise to key oversight functions of the company. Investors should note that Mr. Lewis's appointment is part of the company's standard director compensation policy, and he will receive an annual cash retainer and an equity grant. The filing confirms there are no disqualifying arrangements or reportable transactions between Mr. Lewis and Medtronic. This is a routine governance update, but the addition of a director to specialized committees is a notable development for board oversight.

10-K

Medtronic plc Annual Report, Year Ended Apr 28, 2023

Jun 22, 2023

Medtronic plc (MDT) filed its 10-K for the fiscal year ending April 27, 2023, reporting total net sales of $31.2 billion. While overall sales saw a slight decrease of 1% compared to the prior year, this was largely attributed to unfavorable currency impacts, particularly in developed markets, and ongoing supply chain challenges. The company's strategic focus remains on leveraging its pipeline, accelerating innovation, and improving operational nimbleness across its four key segments: Cardiovascular, Medical Surgical, Neuroscience, and Diabetes. Despite the slight top-line dip, Medtronic highlighted growth in key areas such as Micra transcatheter pacing systems, transcatheter aortic valve replacements (TAVR), and neurovascular therapies. The company also reported progress in its ESG initiatives and a strong commitment to employee development and an inclusive workplace. Management anticipates continued focus on innovation and market expansion, particularly in emerging markets, while navigating macroeconomic headwinds such as inflation, rising interest rates, and geopolitical factors.

8-K

Medtronic plc 8-K Report, Financial Results (May 25, 2023)

May 25, 2023

Medtronic plc (MDT) filed an 8-K on May 25, 2023, primarily to furnish its full-year and fourth-quarter fiscal year 2023 financial results, as announced in their press release dated May 25, 2023. While the 8-K itself doesn't contain detailed financial figures, it serves as the official notification to investors that these results are now publicly available via the press release (Exhibit 99.1). Investors should refer to this press release for specific performance metrics, revenue figures, profitability, and any forward-looking guidance or commentary from management regarding the company's performance and outlook for the upcoming fiscal year.

8-K

Medtronic plc 8-K Report, Material Agreement (Mar 30, 2023)

Mar 30, 2023

Medtronic plc (MDT) announced on March 30, 2023, through its indirect wholly owned subsidiary Medtronic Global Holdings S.C.A. ("Medtronic Luxco"), the issuance of $2 billion in aggregate principal amount of senior notes. This offering comprises $1 billion of 4.250% Senior Notes due 2028 and $1 billion of 4.500% Senior Notes due 2033. The net proceeds, expected to be approximately $1.98 billion after expenses, are earmarked for the prepayment of a portion of Medtronic Luxco's Japanese-yen denominated term loan, which amounts to approximately $2.3 billion. This debt issuance represents a proactive move by Medtronic to refinance a specific tranche of its existing debt, likely to optimize its capital structure and potentially reduce interest expenses or alter its debt maturity profile. The notes are fully and unconditionally guaranteed by Medtronic plc and Medtronic, Inc., providing additional security to investors. While the offering itself is not expected to have a material impact on interest expense, net, it signifies ongoing financial management and debt servicing strategies by the company.

8-K

Medtronic plc 8-K Report, Regulation FD Disclosure (Mar 9, 2023)

Mar 9, 2023

Medtronic plc (MDT) filed an 8-K on March 9, 2023, to address an erroneous communication regarding the redemption of its 0.000% Senior Notes due 2025, issued by its subsidiary Medtronic Global Holdings S.C.A. ("Medtronic Luxco"). The company clarified that Medtronic Luxco has not issued any notice of redemption for these notes. This disclosure was made to correct misinformation that had been erroneously communicated to data providers like Bloomberg and subsequently disseminated more widely. Investors should be aware that this filing is purely for informational purposes to correct a factual error and does not indicate any changes to Medtronic's debt obligations or financial strategy related to these specific notes.

8-K

Medtronic plc 8-K Report, Shareholder Nominations (Mar 7, 2023)

Mar 7, 2023

This 8-K filing from Medtronic plc announces key dates and deadlines related to its 2023 Annual General Meeting of Shareholders (AGM). The AGM is scheduled for October 19, 2023, with a record date of August 25, 2023, for determining shareholders eligible to vote. This filing is crucial for investors as it sets the timelines for submitting shareholder proposals and director nominations. Notably, because the AGM date has shifted significantly from the previous year's anniversary, the previously announced deadlines for shareholder actions no longer apply. The company is providing updated timelines to ensure shareholders are aware of the requirements for presenting proposals or nominating directors, whether for inclusion in the proxy materials or for presentation directly at the meeting. Investors interested in actively participating in corporate governance through these avenues should pay close attention to the specified submission deadlines.

10-Q

Medtronic plc Quarterly Report for Q3 Ended Jan 27, 2023

Mar 1, 2023

Medtronic plc reported net sales of $7.73 billion for the third quarter of fiscal year 2023, a slight decrease of 1% year-over-year. Diluted earnings per share (EPS) were $0.92, down from $1.10 in the prior year's comparable quarter. The company experienced a decrease in net income to $1.22 billion from $1.48 billion year-over-year, primarily impacted by higher cost of products sold and increased operating expenses. Despite the revenue dip, Medtronic's Cardiovascular segment showed resilience with a 1% increase in net sales, driven by strong performance in Micra, TAVR, and Diagnostics. However, the Medical Surgical segment saw a notable 7% decline in net sales, attributed to unfavorable currency impacts, supply chain challenges, and lower ventilator demand. Geographically, the U.S. market showed growth (3%), while Non-U.S. Developed Markets experienced a 6% decline and Emerging Markets saw a 1% decrease, impacted by currency headwinds and regional economic factors. The company's financial health remains robust, with $4.5 billion in cash and cash equivalents and $6.6 billion in current investments. Medtronic continues its share repurchase program, with approximately $2.5 billion remaining authorized. The company highlighted ongoing efforts to manage costs and navigate supply chain disruptions while investing in research and development for future growth.

8-K

Medtronic plc 8-K Report, Financial Results (Feb 21, 2023)

Feb 21, 2023

Medtronic plc (MDT) filed an 8-K on February 21, 2023, to announce its third quarter fiscal year 2023 financial results. The filing itself is primarily a notification that a press release containing these results has been issued, and the press release is attached as an exhibit. Investors should refer to the press release (Exhibit 99.1) for detailed financial performance, including revenue, earnings, and segment-specific information. While the 8-K doesn't contain the specific numbers, it signals the release of crucial performance data for the quarter ending February 20, 2023. This information is vital for assessing Medtronic's current operational health, progress against its strategic goals, and potential implications for future financial performance and stock valuation. Investors are advised to review the accompanying press release for a comprehensive understanding of the reported results.

8-K

Medtronic plc 8-K Report, Shareholder Vote Results (Dec 13, 2022)

Dec 13, 2022

This 8-K filing from Medtronic plc details the outcomes of its 2022 Annual General Meeting of Shareholders held on December 8, 2022. The meeting served as a platform for shareholders to vote on key corporate governance matters, including the election of directors, ratification of the independent auditor, executive compensation, and authorities related to share issuance and repurchases. The overall results indicate strong shareholder support for the company's management and proposed actions. Key proposals, including the election of all eleven director nominees and the ratification of PricewaterhouseCoopers LLP as the independent auditor for fiscal year 2023, received overwhelming approval. Shareholder approval was also granted for the compensation of named executive officers and for renewing the Board's authority to issue shares, opt out of pre-emption rights, and conduct overseas market purchases of Medtronic ordinary shares. The significant turnout and affirmative votes demonstrate shareholder confidence in Medtronic's leadership and strategic direction.

10-Q

Medtronic plc Quarterly Report for Q2 Ended Oct 28, 2022

Dec 1, 2022

Medtronic plc reported a net sales decrease of 3% for the three months ended October 28, 2022, compared to the same period last year, reaching $7.585 billion. This decline was primarily attributed to unfavorable currency impacts and ongoing supply chain challenges. Net income attributable to Medtronic significantly decreased to $427 million, or $0.32 per diluted share, from $1.311 billion, or $0.97 per diluted share, in the prior year's comparable quarter. This substantial decrease in profitability was largely due to a significant $764 million net tax charge related to a U.S. Tax Court opinion concerning historical income allocation. Despite the top-line and bottom-line declines, Medtronic's balance sheet remains strong with $4.8 billion in cash and cash equivalents and $6.6 billion in investments. The company also continued its strategic acquisitions, notably Intersect ENT for $1.2 billion and Affera, Inc. for $904 million, to bolster its Neuroscience and Cardiovascular segments, respectively. These acquisitions are expected to contribute to long-term growth, though they also resulted in significant goodwill and intangible asset additions. The company also highlighted progress on restructuring initiatives and continued share repurchases, with approximately $2.5 billion remaining under its authorized program.

8-K

Medtronic plc 8-K Report, Financial Results (Nov 22, 2022)

Nov 22, 2022

Medtronic plc filed an 8-K on November 22, 2022, to announce its second quarter fiscal year 2023 financial results. This filing primarily serves to furnish the press release containing these results, which was issued on November 22, 2022. Investors should refer to the furnished press release (Exhibit 99.1) for detailed financial performance and operational updates for the quarter ending October 28, 2022. The 8-K itself does not contain new quantitative financial data but directs stakeholders to the primary source of this information. The key takeaway for investors is that this filing is a standard procedure to officially disclose their quarterly earnings. While the 8-K provides the context of the filing, the substantive financial details, including revenue, earnings per share, segment performance, and forward-looking guidance (if any), are contained within the accompanying press release. Investors are strongly advised to review the press release to understand Medtronic's financial health and strategic direction for the second quarter.

8-K

Medtronic plc 8-K Report, Material Agreement (Sep 21, 2022)

Sep 21, 2022

Medtronic plc (MDT) announced the closing of a significant debt offering through its indirect wholly owned subsidiary, Medtronic Global Holdings S.C.A. (Medtronic Luxco). The company successfully issued €3.5 billion in aggregate principal amount of senior notes across four tranches with varying maturities and interest rates: 2.625% Senior Notes due 2025, 3.000% Senior Notes due 2028, 3.125% Senior Notes due 2031, and 3.375% Senior Notes due 2034. These notes are fully and unconditionally guaranteed by Medtronic plc and Medtronic, Inc. The primary purpose of this offering is to refinance existing debt, specifically Medtronic Luxco's outstanding 0.00% Senior Notes due 2022 and its 0.375% and 0.00% Senior Notes due 2023, which are nearing maturity. The net proceeds, estimated at approximately €3.47 billion after expenses, will also be allocated for general corporate purposes. Medtronic has reiterated that its fiscal year 2023 adjusted earnings per share guidance, previously issued, already accounts for the financial impact of this offering and its use of proceeds. The company has applied to list these new notes on the New York Stock Exchange.

10-Q

Medtronic plc Quarterly Report for Q1 Ended Jul 29, 2022

Sep 1, 2022

Medtronic plc's Q2 Fiscal Year 2023 results, filed August 31, 2022, show a decrease in net sales to $7,371 million from $7,987 million in the prior year's comparable period, an 8% decline. This was primarily attributed to ongoing supply chain challenges and the lingering effects of the COVID-19 pandemic impacting procedure volumes. Diluted earnings per share (EPS) also saw a decrease, with GAAP EPS at $0.70 compared to $0.56 in the prior year. However, on a non-GAAP basis, adjusted diluted EPS was $1.13, an improvement from $1.36 in the prior year when excluding significant one-time charges such as MCS impairment and restructuring costs. The company reported a strategic acquisition of Intersect ENT for $1.2 billion, bolstering its Neuroscience segment, and announced the subsequent acquisition of Affera, Inc. Despite revenue headwinds, Medtronic continued to invest in innovation and returned capital to shareholders through share repurchases and dividends. The company's strong balance sheet and liquidity position remain robust, providing flexibility for future operations and strategic initiatives.

8-K

Medtronic plc 8-K Report, Financial Results (Aug 23, 2022)

Aug 23, 2022

Medtronic plc (MDT) has filed an 8-K report on August 23, 2022, to announce its financial results for the first quarter of its fiscal year 2023. The press release, furnished as Exhibit 99.1, provides details on the company's performance during this period. Investors should refer to this press release for the specific financial figures, including revenue, earnings per share, and any segmental performance data, which are crucial for assessing the company's ongoing operational health and future prospects. While the 8-K itself does not contain the detailed financial results, it serves as the official notification that these results have been released. The information within the accompanying press release will be key for understanding any year-over-year or sequential changes in Medtronic's financial condition, profitability, and operational efficiency. Investors are encouraged to review the full press release for a comprehensive understanding of the Q1 FY2023 performance.

8-K

Medtronic plc 8-K Report, Executive Changes (Jun 27, 2022)

Jun 27, 2022

Medtronic plc announced a change to its Board of Directors, effective June 27, 2022. The size of the Board has been increased from 10 to 11 members, and Lidia L. Fonseca has been appointed as a new director. This appointment is a standard governance update, bringing new expertise to the company's leadership. Investors should note that Ms. Fonseca will participate in the company's standard director compensation plan, including cash retainers and equity grants. Her appointment to key committees, Science and Technology and Compensation, suggests a focus on innovation and executive remuneration oversight.