The guidance raise and broad-based strength across all segments confirm durable momentum. Traders should watch for continued execution on new growth platforms (Cardiac Ablation, Affera, Altaviva, Cornerstone Robotics) and the Diabetes separation timeline. The extra fiscal week contributed ~$570M to Q1 organic growth, so Q2 comps will be tougher — monitor for sequential deceleration.
Price Chart
Executive Summary
Medtronic reported Q1 FY27 revenue of $9.756B (+13.7% organic, ~200bps above guidance midpoint) and non-GAAP EPS of $1.45, ahead of consensus. The company raised FY27 organic revenue growth guidance to 7.25%-7.75% (from 6.75%-7.25%) and EPS guidance to $5.94-$6.00. Broad-based strength across Cardiovascular (+18.9% organic), Neuroscience (+9.3%), Medical Surgical (+10.2%), and Diabetes (+14.9%) drove the beat, signaling durable momentum despite the extra fiscal week contributing ~$570M to organic growth.
Key Financial Metrics
Key Facts
- Revenue of $9.756B beat consensus of $9.54B by ~2.3%
- Non-GAAP EPS of $1.45 beat consensus of $1.39 by ~4.3%
- Raised FY27 organic revenue growth guidance to 7.25%-7.75% from 6.75%-7.25%
- Raised FY27 non-GAAP EPS guidance to $5.94-$6.00 from $5.90-$6.00
- Cardiovascular portfolio grew 18.9% organic, led by Electrophysiology Therapies (+29.1%)
- Diabetes revenue grew 14.9% organic to $843M
- Free cash flow of $1.290B vs $584M in prior year quarter
- GAAP diluted EPS of $1.14 vs $0.81 in prior year quarter
Financial Impact
Revenue beat consensus by ~$216M; EPS beat by $0.06; guidance raised 50bps on organic growth and $0.04-$0.00 on EPS midpoint
Risk Factors
- Extra fiscal week (~$570M) inflated Q1 organic growth, creating a tough comp for Q2
- Diabetes separation structure (split-off vs spin-off) remains undecided, creating uncertainty
- Restructuring charges ($72M) and acquisition costs continue to weigh on GAAP profitability
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302865648 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | Press Release | $92.60 $89.30 | ▼ −3.56% | ▼ −6.13% | $87.01 (−6.03%) |
Sep 15, 2026 16d ago | 425 | $92.60 $89.30 | ▼ −3.56% | ▼ −6.13% | $87.01 (−6.03%) |
Sep 14, 2026 17d ago | 425 | $93.75 $90.77 | ▼ −3.18% | ▼ −5.29% | $87.01 (−7.18%) |
Sep 14, 2026 18d ago | 425 | $93.80 $91.75 | ▼ −2.19% | ▼ −2.29% | $87.01 (−7.23%) |
Sep 14, 2026 18d ago | 425 | $93.80 $91.75 | ▼ −2.19% | ▼ −2.29% | $87.01 (−7.23%) |
Sep 1, 2026 4w ago | Press Release | $92.03 $91.89 | ▼ −0.15% | ▼ −0.23% | $87.01 (−5.45%) |
Sep 1, 2026 4w ago | 8-K | $92.04 $91.89 | ▼ −0.16% | ▼ −0.24% | $87.01 (−5.46%) |
Sep 1, 2026 4w ago | Press Release | $92.04 $91.89 | ▼ −0.16% | ▼ −0.24% | $87.01 (−5.46%) |
Aug 31, 2026 4w ago | Court Ruling | $90.65 $92.39 | ▲ +1.92% | ▲ +2.06% | $87.01 (−4.01%) |
Aug 20, 2026 6w ago | Press Release | $93.35 $91.15 | ▼ −2.36% | ▼ −2.83% | $87.01 (−6.79%) |
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