TLDR
- Medtronic stock rose over 9% in premarket trading after beating Q1 earnings and revenue estimates
- Adjusted EPS came in at $1.45 vs. the $1.39 Wall Street estimate; revenue hit $9.76B vs. $9.55B expected
- The company invested $700M for rights to distribute Cornerstone Robotics’ Sentire surgical system outside the U.S.
- Medtronic raised its fiscal 2027 organic revenue growth outlook to 7.25%-7.75%, up from 6.75%-7.25%
- Cardiovascular segment revenue jumped 19.5% to $3.93B, with pulsed field ablation products up 88%
Medtronic stock jumped over 9% in premarket trading on Tuesday, hitting $95.20, after the medical device maker posted stronger-than-expected results for its fiscal first quarter ended July 31.
Adjusted earnings came in at $1.45 per share, up from $1.26 a year ago and ahead of the Wall Street estimate of $1.39. Revenue grew 14% to $9.76 billion, topping the analyst consensus of $9.55 billion.
Every segment in the business beat expectations. The company was also joined by peers Abbott and Boston Scientific in clearing analyst estimates for the quarter.
MEDTRONIC $MDT Q1’27 EARNINGS HIGHLIGHTS
🔹 Revenue: $9.76B (Est. $9.54B) 🟢; +13.7% YoY
🔹 Adj. EPS: $1.45 (Est. $1.39) 🟢; +15.1% YoY
🔹 Cardiac Ablation Solutions: +88% YoY
🔸 Announces ~$700M Cornerstone Robotics dealRaises FY27 Guide:
🔹 Adj. EPS: $5.94-$6.00 (Est. $5.95)… pic.twitter.com/XvQLE5fglI— Wall St Engine (@wallstengine) September 1, 2026
The cardiovascular segment, Medtronic’s largest, had a standout quarter. Revenue there jumped 19.5% to $3.93 billion, fueled by 88% growth in its pulsed field ablation portfolio, which is used to treat irregular heart rhythms.
Medtronic noted that around $570 million of the quarterly revenue growth came from an extra week in the reporting period.
The company also raised its fiscal 2027 outlook. Organic revenue growth is now forecast at 7.25% to 7.75%, up from the prior range of 6.75% to 7.25%. Full-year adjusted earnings per share guidance was narrowed to $5.94 to $6.00, with the midpoint coming in two cents above analyst expectations.
$700M Bet on Robotic Surgery
Beyond the earnings, Medtronic made a move in the robotic surgery space that may be the bigger story for investors.
The company announced a $700 million investment giving it the rights to distribute Cornerstone Robotics’ Sentire surgical system in select markets outside the U.S.
Medtronic plans to offer the Sentire system alongside its existing Hugo robotic-assisted surgery platform. The Hugo system is already seen as a direct rival to Intuitive Surgical’s Da Vinci robot, which dominates the space.
Intuitive Surgical stock dipped 0.2% in premarket trading on Tuesday.
Medtronic said the two platforms together will “expand access to robotic-assisted surgery and offer surgeons and health systems more choice and flexible solutions.”
Additional Deals and Spinoff Update
Medtronic also disclosed a $80 million investment in Pi-Cardia, a heart valve repair device maker, with an option to acquire the company outright for $210 million.
MiniMed, Medtronic’s former diabetes unit that was spun off last year and began public trading in March, also reported a solid quarter. Net sales for MiniMed grew 17% to $843 million, ahead of the $826.8 million analyst estimate.
MiniMed stock rose 1.4% in premarket trading.
Medtronic stock had been down 5.6% for the year heading into Tuesday’s session. The premarket gain puts it on track to recover a chunk of that loss.
Cardiovascular segment sales of $3.93 billion for the quarter represent the company’s strongest growth driver heading into the rest of fiscal 2027.
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