Medtronic plc
- Open
- 89.15
- Day high
- 90.70
- Day low
- 88.70
- Prev close
- 89.41
- Volume
- 8.2M
- Mkt cap
- $116.2B
- P/E (TTM)
- 24.2
- EPS (TTM)
- $3.75
- P/B
- 2.3
- P/S
- 3.2
- Yield
- 3.14%
- Per share
- $2.85
- ▼Insiders net selling -$595K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Medtronic plc (MDT) is a Healthcare company listed on NYSE. The stock is down 3% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Medtronic plc (MDT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MDT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 3, 2026 | $1.54 | $1.55 | +0.6% | $9.8B | +1.9% |
| Feb 17, 2026 | $1.34 | $1.36 | +1.5% | $9.0B | +1.2% |
| Nov 18, 2025 | $1.31 | $1.36 | +3.8% | $9.0B | +1.1% |
| Aug 19, 2025 | $1.23 | $1.26 | +2.4% | $8.6B | +2.4% |
| May 21, 2025 | $1.58 | $1.62 | +2.5% | $8.9B | +1.2% |
| Feb 18, 2025 | $1.36 | $1.39 | +2.2% | $8.3B | -0.4% |
| Nov 19, 2024 | $1.25 | $1.26 | +0.8% | $8.4B | +1.6% |
| Aug 20, 2024 | $1.20 | $1.23 | +2.5% | $7.9B | +0.2% |
| May 23, 2024 | $1.45 | $1.46 | +0.7% | $8.6B | +1.6% |
| Feb 20, 2024 | $1.26 | $1.30 | +3.2% | $8.1B | +1.7% |
| Nov 21, 2023 | $1.18 | $1.25 | +5.9% | $8.0B | +0.7% |
| Aug 22, 2023 | $1.11 | $1.20 | +8.1% | $7.7B | +1.8% |
MDT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 4, 2026 | Martha Geoffreydirector, officer: Chairman and CEO | Grant | 273,150 | $86.68 |
| Aug 4, 2026 | Martha Geoffreydirector, officer: Chairman and CEO | Tax | 15,810 | $85.39 |
| Aug 4, 2026 | KIIL HARRY SKIPofficer: EVP & President Cardiovascular | Grant | 9,230 | — |
| Aug 4, 2026 | Marinaro Michaelofficer: EVP, Pres MedSurg and Americas | Grant | 10,960 | — |
| Aug 4, 2026 | KIIL HARRY SKIPofficer: EVP & President Cardiovascular | Grant | 23,074 | — |
| Aug 4, 2026 | Pieton Thierryofficer: EVP & Chief Financial Officer | Grant | 28,842 | — |
| Aug 4, 2026 | Walter Matthew R.officer: SVP, Chief HR Officer | Grant | 40,973 | $86.68 |
| Aug 4, 2026 | Marinaro Michaelofficer: EVP, Pres MedSurg and Americas | Grant | 46,147 | — |
| Aug 4, 2026 | Quinn Michelleofficer: EVP, GC and Secretary | Grant | 15,863 | — |
| Aug 4, 2026 | Martha Geoffreydirector, officer: Chairman and CEO | Grant | 295,002 | $86.68 |
| Aug 4, 2026 | Walter Matthew R.officer: SVP, Chief HR Officer | Grant | 14,421 | — |
| Aug 4, 2026 | Pieton Thierryofficer: EVP & Chief Financial Officer | Grant | 81,945 | $86.68 |
| Aug 4, 2026 | Thompson Kweliofficer: EVP & President, Neuroscience | Grant | 17,306 | — |
| Aug 4, 2026 | Quinn Michelleofficer: EVP, GC and Secretary | Grant | 45,070 | $86.68 |
| Aug 4, 2026 | Walter Matthew R.officer: SVP, Chief HR Officer | Tax | 1,675 | $85.39 |
Source: MDT SEC Form 4 filings, latest Aug 4, 2026. For informational purposes only — not investment advice.
See the full MDT insider & 13F page →Medtronic plc company profile
Overview
Medtronic plc (NYSE:MDT) is a global medical device company founded in 1949 and headquartered in Dublin, Ireland. Originally established as a medical equipment repair shop in Minneapolis, Medtronic has evolved into one of the world's largest medical technology companies, developing, manufacturing, and selling device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. The company went public in 1973 and has grown through both organic innovation and strategic acquisitions to become a leader in multiple medical device categories.
Business
Medtronic operates in the medical device industry, which encompasses the development and manufacturing of instruments, apparatus, and machines used in healthcare for diagnosis, treatment, and patient monitoring. The company's business is organized into four primary segments: Cardiovascular Portfolio (approximately 35-40% of revenue) develops and manufactures devices for heart-related conditions. This includes implantable cardiac pacemakers that regulate heartbeat, cardioverter defibrillators that shock the heart back to normal rhythm during dangerous arrhythmias, and cardiac resynchronization therapy devices for heart failure patients. The segment also produces cardiac ablation products that destroy abnormal heart tissue causing irregular rhythms, insertable cardiac monitors for long-term heart rhythm monitoring, and transcatheter aortic valve replacement (TAVR) systems that allow surgeons to replace heart valves without open-heart surgery. Medical Surgical Portfolio (approximately 25-30% of revenue) focuses on surgical instruments and technologies. This includes surgical stapling devices, vessel sealing instruments for controlling bleeding during surgery, electrosurgery products that use electrical current to cut tissue and control bleeding, and emerging robotic-assisted surgery products like the Hugo surgical robot platform. The segment also covers minimally invasive gastrointestinal procedures, patient monitoring systems, airway management equipment, and renal disease treatment products. Neuroscience Portfolio (approximately 25-30% of revenue) serves neurological and spinal conditions. Products include spinal fusion hardware and instruments for spine surgeons, neurostimulation devices for chronic pain management and movement disorders like Parkinson's disease, and deep brain stimulation systems. The segment also provides image-guided surgery systems that help surgeons navigate complex procedures and robotic guidance systems for spine procedures. Diabetes Operating Unit (approximately 8-10% of revenue) develops insulin delivery and glucose monitoring systems for diabetes management. Key products include the MiniMed insulin pump systems that automatically deliver insulin, continuous glucose monitoring (CGM) systems that track blood sugar levels in real-time, and integrated automated insulin delivery (AID) systems like the MiniMed 780G that combine pumps and sensors to automatically adjust insulin delivery based on glucose readings.
Revenue model
Medtronic generates revenue primarily through product sales to hospitals, healthcare systems, and individual physicians worldwide. The company operates on a traditional medical device business model where it develops proprietary medical technologies, obtains regulatory approvals, and then sells these devices through direct sales forces and distribution partners. Revenue comes from both one-time device sales (such as implantable devices) and recurring consumable sales (such as pump supplies and sensor replacements). The company's customers include hospitals, ambulatory surgery centers, cardiac catheterization laboratories, and individual healthcare practitioners. Payment typically comes through healthcare reimbursement systems, including government programs like Medicare and Medicaid in the United States, national health services in other countries, and private insurance providers. Several factors influence Medtronic's profitability margins. Positive margin drivers include the company's focus on premium, innovative medical technologies that command higher prices, economies of scale in manufacturing, and the recurring revenue nature of consumable products in diabetes and other segments. The company also benefits from its global scale, which allows it to spread research and development costs across large sales volumes. Negative margin pressures include healthcare cost containment efforts by governments and insurers, which put downward pressure on device pricing. Supply chain inflation affects manufacturing costs, while foreign exchange fluctuations impact international operations. Regulatory compliance costs are substantial, and the company faces competition from both established medical device companies and emerging technology firms. Additionally, the lengthy and expensive process of developing new medical devices and obtaining regulatory approvals requires significant upfront investment before revenue generation.
Competitive moat
Medtronic possesses a moderate to strong competitive moat built on several key advantages. The company benefits from significant regulatory barriers to entry, as medical devices require extensive clinical trials and regulatory approvals that can take years and cost hundreds of millions of dollars. This creates substantial switching costs for healthcare providers who invest in training staff on specific devices and integrating them into clinical workflows. The company's established relationships with healthcare providers, built over decades, create customer stickiness. Medtronic's scale advantages allow it to maintain large research and development budgets, extensive global distribution networks, and manufacturing efficiencies that smaller competitors struggle to match. The company also holds numerous patents protecting its key technologies. However, Medtronic's moat faces several challenges. The medical device industry experiences rapid technological change, with new entrants potentially disrupting established categories through innovative approaches. Large technology companies like Apple and Google are entering healthcare with digital health solutions. Additionally, healthcare cost pressures drive customers to seek lower-cost alternatives, and some of Medtronic's key patents are expiring. The company's moat is strongest in complex, procedure-intensive devices where switching costs are highest (such as cardiac rhythm management and neurostimulation) and weakest in commodity-like products where price competition is most intense. The emergence of digital health technologies and artificial intelligence also presents both opportunities and threats to traditional medical device companies.
Risks & safety
Medtronic demonstrates a solid margin of safety with strong financial fundamentals, though valuation appears somewhat elevated. • Liquidity and Solvency: Strong cash position with $1.24 billion in cash and short-term investments, healthy current ratio of 1.90, and strong free cash flow generation of $2.1 billion in the most recent quarter. Debt-to-equity ratio of 0.54 is manageable for a large medical device company. • Valuation Metrics: Trading at 22.3x P/E ratio, which appears reasonable for a healthcare technology company with mid-single-digit growth. EV/EBITDA of 14.7x suggests modest valuation. Price-to-book ratio of 2.34 reflects the company's intangible assets and market position. • Other Considerations: Consistent free cash flow generation supports dividend payments and share repurchases. The company's diversified portfolio across multiple medical device categories reduces concentration risk. However, exposure to healthcare reimbursement changes and regulatory risks in multiple jurisdictions create some uncertainty.
Recent development
Over the past few years, Medtronic has undergone significant strategic transformation focused on portfolio optimization and operational efficiency. The company has streamlined its operating model from multiple business units to four focused segments, implementing a more performance-driven culture and improving capital allocation decisions. Key product innovations have driven recent growth, particularly the PulseSelect Pulse Field Ablation (PFA) catheter in cardiac ablation, which has treated over 10,000 patients across 20 countries. The MiniMed 780G automated insulin delivery system reached significant milestones with strong adoption in diabetes management. The company launched the Evolut FX+ TAVR valve for heart valve replacement and received FDA approval for the Inceptiv closed-loop spinal cord stimulator. Strategic partnerships and acquisitions include a collaboration with Abbott to integrate continuous glucose monitoring technology, expanding patient access to automated insulin delivery systems. The company also announced intent to acquire EOFlow for patch pump technology to enhance its diabetes portfolio. Emerging growth platforms include the Hugo robotic surgical system, which is progressing through clinical trials with expected U.S. market entry. Renal denervation therapy for hypertension treatment has received FDA approval and transitional reimbursement approval. The company is also advancing closed-loop neuromodulation technology and expanding its cardiac ablation solutions with both single-shot and point-by-point ablation systems. The company has focused on resolving operational challenges, including supply chain improvements and quality enhancements, while maintaining its commitment to mid-single-digit revenue growth and high-single-digit earnings per share growth.
MDT company profile · for informational purposes only — not investment advice.
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