Medtronic
(NYSE: MDT)
today reported Street-beating third-quarter results fueled by the success of its pulsed-field ablation (PFA) technologies for treating atrial fibrillation, which enabled Cardiac Ablation Solutions revenue to grow 80% worldwide and 137% in the U.S.
However, with Medtronic reiterating its full-year guidance rather than raising it, investors appear to have wanted more. MDT shares were down more than 2%, to $96.95 in morning trading today. The S&P 500 was up slightly.
Medtronic earned $1.750 billion, or $1.36 per share, on $9.017 billion in revenue during the quarter ended Jan. 23, 2026. Earnings were down 2.1%, and revenue was up 8.7% compared with the same quarter a year agno.
Adjusted to exclude one-time items, EPS was $1.36. The result was 3¢ ahead of the Wall Street consensus of $1.33 EPS and $8.9 billion in revenue.
“By unlocking new markets and investing in high-growth opportunities, we are accelerating performance across the company. Our innovation pipeline and portfolio breadth give us confidence in our ability to sustain long-term growth. It’s an exciting time for Medtronic,” CEO Geoff Martha said in a news release.
All four of Medtronic’s major portfolios grew in the third quarter: Cardiovascular, up 13.8%; Neuroscience, up 4.1%; Medical Surgical, up 4.9%; and Diabetes, slated for an IPO as MiniMed by the end of the calendar year, up 14.8%.
The FDA cleared Hugo robotic-assisted surgery system for use in urologic surgical procedures, making Medtronic a major competitor against Intuitive in U.S. soft-tissue surgical robotics.
There was also FDA clearance, announced last week, for the company’s Stealth Axis robotic system for spine surgery, built on its existing Mazor and StealthStation technologies.
“Stealth Axis is a new transformative platform that unifies AI, power planning, robotics and navigation into one seamless system elevated by the entire able ecosystem. … It’s about taking share as a new platform with improved functionality, and it brings down barriers for physicians to step into robotics without disrupting their workflow,” Martha said during the company’s earnings call today.
Medtronic reiterated its full-year forecast of 5.5% organic revenue growth and adjusted EPS of $5.62–5.66.
CFO Thierry Piéton said during Medtronic’s earnings call: “We think Q4 is going to be another robust quarter, and that we will sustain our growth at a higher level and into the next year.”
Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at [email protected].
Medtronic
(NYSE: MDT)
today reported Street-beating third-quarter results fueled by the success of its pulsed-field ablation (PFA) technologies for treating atrial fibrillation, which enabled Cardiac Ablation Solutions revenue to grow 80% worldwide and 137% in the U.S.
