Medtronic Raises FY27 Guidance; Robotics Investment Boosts Shares

Medtronic reported a first-quarter FY27 revenue of $9.756 billion, up 13.7% year over year with organic growth also at 13.7% and non-GAAP EPS of $1.45 (GAAP EPS $1.14). The company raised its full-year FY27 guidance to organic revenue growth of 7.25% to 7.75% and adjusted EPS of $5.94 to $6.00, citing strong operating performance and disciplined financial management. Cardiovascular was the top growth driver at about $3.93 billion, with notable gains in electrophysiology and cardiac rhythm management, while neuroscience and medical-surgical portfolios also posted solid increases and diabetes revenue rose. Medtronic announced about $700 million in Cornerstone Robotics to expand surgical robotics distribution internationally and up to $80 million in Pi-Cardia, with an option to acquire Pi-Cardia for roughly $210 million, advancing its growth platforms. The fiscal 2027 year is a 53-week period, with the extra week contributing an estimated $570 million to organic growth in the quarter. Early trading data reflected investor optimism as MDT traded near $94 per share after the updated outlook.