Medtronic completed its separation of MiniMed Group, Inc. At its October 15, 2026 Annual General Meeting, shareholders elected twelve directors, ratified PricewaterhouseCoopers LLP as auditor and approved executive compensation.
MDT · Medtronic plc
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Medtronic plc’s Exchange Offer expired October 9, 2026; Medtronic accepted 55,032,401 Medtronic Ordinary Shares in exchange for 252,813,348 newly issued MiniMed Common Stock, disposing of its remaining interest in MiniMed.
Medtronic’s Exchange Offer expired October 9, 2026 and was oversubscribed; it intends to accept 55,032,401 Medtronic Ordinary Shares for 252,813,348 MiniMed Common Stock, with an estimated preliminary proration factor of approximately 18.3%.
Medtronic set the final exchange ratio at 4.5939 MiniMed Group, Inc. shares per ordinary share for an offer covering up to 225,361,295 shares, approximately 80.1% of outstanding MiniMed shares.
Metrics snapshot
Useful current figures from the complete screener profile.
Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q1 FY27 earnings call · Sep 1, 2026TL;DR. Medtronic reported Q1 FY27 revenue of $9.8B with 13.7% organic growth well ahead of expectations and raised its FY27 organic revenue growth guidance by 50bps to 7.25%-7.75% and FY27 EPS guidance to $5.94-$6.00, while announcing new strategic investments in Cornerstone Robotics and Pi-Cardia and continued 88% growth in Cardiac Ablation Solutions.
- + Q1 revenue of $9.8B with 13.7% organic growth was roughly 200bps above the guidance midpoint and ahead of expectations
- + FY27 organic revenue growth guidance raised 50bps to 7.25%-7.75%
- + FY27 non-GAAP EPS guidance raised to $5.94-$6.00
- + FY27 operating profit expected to grow approximately 10% with operating margin expanding approximately 50bps year-over-year
- + Diabetes delivered 15% growth on strong U.S. and international performance
- − Neuromodulation lagged at 3% global growth due to ongoing SCS market softness and DBS replacement headwinds
- − FX is expected to be a roughly $50M-$150M headwind to full-year revenue
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Research
our published analysis of this company-
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Equibles Rating
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Free Cash Flow non-GAAP | $1.29B | Three months ended July 31, 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net cash provided by operating activities 1.79B
-503M Additions to property, plant, and equipment
= Free Cash Flow 1.29B
|
|||
| Non-GAAP diluted EPS non-GAAP | $1.45 | Q1 FY27 | — |
| Non-GAAP net income non-GAAP | $1.86B | Q1 FY27 | — |
| Non-GAAP operating margin non-GAAP | 23.7% | Q1 FY27 | — |
| Non-GAAP operating profit non-GAAP | $2.32B | Q1 FY27 | — |
| Organic revenue growth non-GAAP | 13.7% | Q1 FY27 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Medical Devices — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
MDT
this stock
Medtronic plc
|
$131.57B | +7.1% | +8.4% | 25.3 | 1.8% |
|
ABT
Abbott Laboratories
|
$187.95B | -13.4% | +5.7% | 40.5 | 1.1% |
|
SYK
Stryker Corp
|
$117.88B | -11.9% | +11.2% | 33.0 | 1.7% |
|
BSX
Boston Scientific Corp
|
$64.27B | -53.5% | +12.5% | 18.8 | 2.4% |
|
EW
Edwards Lifesciences Corp
|
$61.61B | +25.7% | +11.5% | 60.5 | 1.6% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Oct 19, 2026
- This year
- 22
Medtronic completed its separation of MiniMed Group, Inc. At its October 15, 2026 Annual General Meeting, shareholders elected twelve directors, ratified PricewaterhouseCoopers LLP as auditor and approved executive compensation.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| MDT | +1.0% | +8.6% | +32.6% | +6.6% | +7.1% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | -1.6% | +9.7% | +32.1% | +6.7% | -3.5% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.