Medtronic Raises Fiscal Outlook on Strong Cardiovascular Performance
Medtronic (NYSE:MDT) has raised its fiscal 2027 revenue growth forecast to between 7.25% and 7.75%, up from a previous range of 6.75% to 7.25%. This revision follows strong quarterly results, particularly in the cardiovascular segment, where sales rose by 19.5% year-over-year due to robust demand for pulsed field ablation devices used in treating irregular heart rhythms. The company also increased its adjusted earnings per share guidance range from $5.90–$6 to $5.94–$6 and reported better-than-expected quarterly results, with revenue of $9.76 billion and EPS of $1.45. Medtronic is investing in heart-valve repair technology through a partnership with Pi-Cardia and expanding its surgical robotics portfolio via an investment in Cornerstone Robotics. Despite the positive outlook, analysts note that sustaining such high growth rates may be challenging as these segments scale up. Additionally, ongoing uncertainties like tariffs could impact future profitability if refunds do not cover duty costs.
Tickers: $MDT
Topics: cardiovascular_treatment medical_devices revenue_growth