Medtronic Raises Fiscal Outlook Amid Strong Heart Device Demand
Medtronic (MDT) raised the lower end of its fiscal 2027 profit forecast and revenue growth outlook due to strong demand for heart devices. The company now expects adjusted earnings per share between $5.94 and $6, up from a previous range of $5.90–$6. Revenue guidance was also increased to an annual organic growth rate of 7.25% to 7.75%. First-quarter fiscal 2027 results showed revenue reaching $9.756 billion, surpassing analyst expectations by about $200 million with EPS at $1.45 versus a forecasted $1.39. Growth was broad-based across all major segments: Cardiovascular rose 19.5%, Diabetes increased 16.9%, Neuroscience grew 10.3%, and Medical Surgical advanced by 10%. Medtronic also highlighted new growth opportunities from its partnership with Cornerstone Robotics, including distribution rights to the Sentire surgical robot.
Tickers: $ABT $DXC $DXCM $JNJ $MDT
Topics: cardiovascular_tech financial_forecast medical_devices