Medtronic
Builds medical devices for cardiac, neurological, surgical, and patient-monitoring care.
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Profile
Develops device-based therapies across cardiovascular, neuroscience, and medical-surgical care, from pacemakers and heart valves to spine systems, surgical tools, robotics, and patient monitors. Revenue is globally balanced, while the separately listed MiniMed diabetes business remains consolidated pending further separation.
Develops and sells device-based therapies through the Cardiovascular, Neuroscience, and Medical Surgical portfolios. Products span pacemakers and defibrillators, cardiac ablation and valves, vascular interventions, spine and cranial systems, neuromodulation, surgical instruments and robotics, endoscopy, and patient monitoring. Specialist-organized sales teams supply hospitals, ambulatory centers, and physicians across a roughly even mix of U.S. and international revenue.
Combines implantable-device franchises with imaging, navigation, robotics, remote monitoring, and consumables to support clinical workflows across multiple specialties. The separately listed MiniMed diabetes business remains a controlled, consolidated subsidiary while further separation is planned. Sales depend on product approvals, manufacturing quality, clinical evidence and adoption, reimbursement, hospital purchasing, and continuity for regulated components that can be difficult to replace.
Company facts
Categories
Key statistics
Year to date −5.0% · Average volume (30d) 6.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 27, 2026 | Needham | Reiterate | Buy | $101 | $114 | |
| Jul 28, 2026 | UBS | Upgrade | Neutral | Buy | $85 | $100 |
| Jul 13, 2026 | BTIG | Reiterate | Buy | $90 | $91 | |
| Jul 6, 2026 | Evercore ISI | Target | $106 | $105 | ||
| Jun 16, 2026 | Piper Sandler | Target | $90 | $85 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 3, 2026Q4 FY26 | $1.54 | $1.55 | +0.6% | $9.62B | $9.81B | +1.9% | +5.11% |
| Feb 17, 2026Q3 FY26 | $1.34 | $1.36 | +1.5% | $8.91B | $9.02B | +1.2% | +2.16% |
| Nov 18, 2025Q2 FY26 | $1.31 | $1.36 | +3.8% | $8.87B | $8.96B | +1.1% | −0.46% |
| Aug 19, 2025Q1 FY26 | $1.23 | $1.26 | +2.4% | $8.38B | $8.58B | +2.4% | +3.69% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.29B | $8.93B | $8.58B | $8.96B | $9.02B | $9.81B | |
| Gross profit | $5.51B | $5.78B | $4.95B | $5.41B | $5.85B | $7.44B | |
| Operating income | $1.65B | $1.44B | $1.45B | $1.69B | $1.77B | $1.56B | |
| Net income | $1.29B | $1.06B | $1.04B | $1.37B | $1.14B | $1.24B | |
| Diluted EPS | $1.01 | $0.82 | $0.81 | $1.07 | $0.89 | $0.96 | |
| Gross margin | 66.5% | 64.7% | 57.7% | 60.3% | 64.9% | 75.9% | |
| Operating margin | 19.9% | 16.1% | 16.8% | 18.8% | 19.7% | 15.9% |
Fiscal years (4-quarter sums)FY22 $31.69B · FY23 $31.23B · FY24 $32.36B · FY25 $33.54B · FY26 $36.36B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Apr 24, 2026Cash & short-term investments $9.22B · Total debt $27.96B · Total assets $93.03B · Shareholders' equity $49.46B
Dividends
Raised for 43 straight years — most recently to $0.72 from $0.71 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 26, 2026 | Jun 26 | Jul 17 | $0.72 | raised from $0.71 |
| Mar 27, 2026 | Mar 27 | Apr 17 | $0.71 | |
| Dec 26, 2025 | Dec 26 | Jan 16 | $0.71 | |
| Sep 26, 2025 | Sep 26 | Oct 17 | $0.71 | |
| Jun 27, 2025 | Jun 27 | Jul 11 | $0.71 | raised from $0.70 |
| Mar 28, 2025 | Mar 28 | Apr 11 | $0.70 | |
| Dec 27, 2024 | Dec 27 | Jan 10 | $0.70 | |
| Sep 27, 2024 | Sep 27 | Oct 11 | $0.70 |
Ownership
Shares outstanding 1.28B · Float 1.28B · 99.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 114.02M | 8.91% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 83.82M | 6.55% | 13F | Aug 13, 2026 |
| State Street Corp | 63.40M | 4.95% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 34.06M | 2.66% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 30.19M | 2.36% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 8, 2026 | Matthew R. Walter | officer: SVP, Chief HR Officer | −3,102 | $83.15 |
| Jun 8, 2026 | Harry Skip Kiil | officer: EVP & President Cardiovascular | −4,189 | $80.44 |
| Feb 19, 2026 | Harry Skip Kiil | officer: EVP & President Cardiovascular | −52,524 | $97.71 |
| Nov 19, 2025 | Gregory L. Smith | officer: EVP Global Ops & Supply Chain | −30,000 | $101.95 |
| Sep 3, 2025 | Harry Skip Kiil | officer: EVP & President Cardiovascular | −8,605 | $91.58 |
Peers
- Abbott
Widest cross-segment rival: cardiac rhythm, EP, structural heart, and diabetes.
- Boston Scientific
Primary head-to-head rival in cardiac ablation, CRM, and neuromodulation.
- Edwards Lifesciences
TAVR duopoly rival; SAPIEN vs Evolut defines the structural heart valve race.
- Globus Medical
Neck-and-neck spine market rival post-NuVasive merger; ExcelsiusGPS vs Mazor X.
- Intuitive Surgical
Soft-tissue robotics leader; da Vinci vs Hugo RAS as primary challenger.
- Johnson & Johnson
Cross-segment rival in EP, surgical instruments/stapling, spine, and robotics.
- Stryker
Spine robotics and neurotechnology rival; Mako 4 vs Mazor X in guided surgery.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Medtronic | $91.58 | +0.42% | $116.78B | 24.5 | 15.3 | 3.2 | +9.9% |
| Abbott | $112.20 | −0.22% | $194.62B | 36.2 | 19.4 | 4.2 | +13.0% |
| Boston Scientific | $46.85 | +0.03% | $69.62B | 19.0 | 14.2 | 3.3 | +7.5% |
| Edwards Lifesciences | $91.14 | +1.04% | $51.94B | 51.8 | 28.7 | 8.0 | +13.6% |
| Globus Medical | $85.02 | +2.47% | $11.19B | 21.3 | 16.2 | 3.6 | +5.9% |
| Intuitive Surgical | $373.80 | +0.36% | $131.63B | 42.4 | 33.0 | 11.9 | +18.5% |
| Johnson & Johnson | $268.40 | +0.13% | $645.95B | 31.1 | 22.4 | 6.6 | +6.6% |
| Stryker | $334.18 | +1.06% | $126.77B | 34.3 | 20.6 | 4.9 | +9.4% |
| Median | 34.3 | 20.6 | 4.9 | +9.4% |