Medtronic has reported total revenue of $36.4 billion in fiscal year 2026 (FY26), a figure the company says reflects the highest annual growth achieved in 10 years.
With FY26 revenue indicating an 8.4% year-over-year (YoY) increase, Med-ABtronic expects FY27 growth to fall in the range of 6.75% to 7.25% on an organic basis, and earnings are expected to fall in the range of $5.90 to $6.00 per share.
The medtech giant’s cardiovascular portfolio, which includes the PulseSelect pulsed field ablation (PFA) system, was its best-performing business segment in FY26, with revenue of around $13.98 billion, marking a 12% year-on-year increase.
Meanwhile, Medtronic’s Neuroscience and MedSurg business lines reached around $10.3 billion and $8.8 billion, corresponding to year-on-year increases of 4.5% and 4.9%, respectively.
In addition to its FY26 financial statements, Medtronic also reported its Q4 FY26 results, achieving total revenue of $9.81 billion. The figure surpassed analyst estimates of $9.63 billion, according to data compiled by the London Stock Exchange Group (LSEG) and seen by Reuters. The total also surpassed Medtronic’s performance in Q3FY26 by about $800 million.
In the fourth quarter, Medtronic’s cardiovascular business grew 13.8% year-over-year to around $3.8 billion, while Neuroscience and MedSurg saw 5% and 8% year-over-year growth to around $2.75 billion and $2.39 billion, respectively.
Medtronic’s financial results sent its share price on the New York Stock Exchange (NYSE) up more than 5% to $77.89 at the market open on June 3, from a previous close of $73.75. Medtronic has a market capitalization of $94.69 billion.
Geoff Martha, President and CEO of Medtronic, said: “Our performance reflects the highest annual revenue growth Medtronic has achieved in 10 years, driven by disciplined execution across our portfolio and continued operational rigor.
“These results represent the compounded impact of the deliberate decisions we have made to strengthen our strategy, refine execution and invest in the areas that will drive our future. We saw continued strength in some of our largest businesses such as CRM, CST and Surgical, and we are building momentum in our largest growth opportunities, such as Affera, Symplicity, Hugo, Altaviva and Stealth AXiS. Together with the investments we are making in our portfolio, Medtronic is well positioned to deliver sustained growth and value to long term.”
“Medtronic Reports Strongest Annual Revenue Growth in a Decade” was created and originally published by Medical Device Network, a brand owned by GlobalData.
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