Medtronic plc reported a strong financial performance for the fiscal year ending April 24, 2026, with total net sales reaching $36.4 billion, an increase of 8% from $33.5 billion in the previous fiscal year. The company's net income attributable to shareholders was $4.8 billion, translating to diluted earnings per share of $3.73, compared to $4.7 billion and $3.61 per share in fiscal year 2025. The growth in revenue was primarily driven by robust sales across its Cardiovascular and Neuroscience segments, which saw increases of 12% and 4%, respectively.
The fiscal year 2026 marked significant changes for Medtronic, particularly with the separation of its Diabetes Business, which was spun off into a new independent entity, MiniMed Group, Inc. This strategic move was completed with an initial public offering (IPO) on March 9, 2026, where Medtronic retained approximately 90% ownership of MiniMed. The decision to separate the Diabetes Business was aimed at enhancing focus on core operations and driving long-term growth. Additionally, Medtronic acquired CathWorks Ltd. for $525 million, further expanding its Cardiovascular portfolio.
Operationally, Medtronic reported a total employee headcount of over 95,000, with 43% based in the U.S. The company emphasized its commitment to innovation, with a focus on integrating artificial intelligence and data analytics into its product offerings. The Cardiovascular segment, which includes products for heart rhythm disorders and vascular diseases, experienced notable growth, particularly in its leadless pacemaker and implantable cardioverter defibrillator lines. The company also reported a favorable impact from foreign currency fluctuations, contributing to its overall sales growth.
Looking ahead, Medtronic expressed optimism about its growth trajectory, citing ongoing product innovations and market expansions. The company anticipates continued adoption of its advanced technologies, particularly in the areas of cardiac rhythm management and neuromodulation. However, it also acknowledged potential challenges, including pricing pressures and geopolitical uncertainties that could impact its operations and financial performance. Medtronic remains focused on leveraging its strong market position to drive shareholder value and enhance patient outcomes globally.
About Medtronic plc
Medtronic plc is a global leader in medical technology, developing and manufacturing device-based therapies across segments like cardiovascular, neuroscience, medical surgical, and diabetes care. Its products include implantable devices, surgical tools, and monitoring systems used worldwide by healthcare providers to treat cardiovascular, neurological, and surgical conditions, emphasizing innovation, patient outcomes, and data-driven care. The company leverages advanced technology and a broad market presence to improve health and extend lives.
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