UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 26, 2024 ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. For the transition period from __________ to __________ Commission File Number 001-36820 ® Medtronic plc (Exact name of registrant as specified in its charter) Ireland 98-1183488 (State of incorporation) (I.R.S. ...

This MedTech leader is back on track with profitable growth.Medtronic (MDT 0.59%)posted first-quarter earnings (for the period ended on June 30) that exceeded the average of Wall Street estimates. The results were strong enough for the medical technologies giant to raise its full-year profit forecast.Investors should welcome the improved outlook, which could signal the start of a bigger turnaround for the company. Medtronic stock rallied on the report but is still down more than 30% from its record high set ...

WolterkMedtronic (NYSE:MDT) has faced several challenges in the past decade. Some were probably because of poor focus and lack of innovation, while others, like COVID-19, were out of their control. Consequently, the share price has languished after peaking in mid-2021. It currently trades at levels in 2018. However, Medtronic is a market leader with solid competitive advantages. Also, performance has recently improved. The stock is undervalued and possesses a nice yield. I expect the dividend streak to ...

PITTSBURGH, Aug. 23, 2024 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active investing, today announced that the Federated Hermes ETF Trust, on behalf of its portfolio, Federated Hermes MDT Large Cap Growth ETF (NYSE: FLCG), which seeks long-term capital appreciation by investing primarily in common stocks of large capitalization (large-cap) U.S. companies with higher forecasted growth values relative to the market, has obtained approval by majority shareholder consent action to c ...

Medtronic TodayMDTMedtronic$87.86 +0.32 (+0.37%) 52-Week Range$68.84▼$89.24Dividend Yield3.19%P/E Ratio31.95Price Target$91.50Add to WatchlistShares of medical device manufacturer Medtronic PLC NYSE: MDT are down about 35% from their highs of roughly three years ago, but promising results from the company's first quarter of fiscal 2025, which ended July 26, could help to drive renewed upward momentum. Specifically, Medtronic's diabetes and neuromodulation products may be poised for breakout growth, and the ...

This photo taken on Nov. 8, 2023 shows a booth of Medtronic at the 6th China International Import ... [+] Expo CIIE in east China's Shanghai. (Photo by Wang Xiang/Xinhua via Getty Images)Xinhua News Agency via Getty ImagesMedtronic (NYSE: MDT) recently reported its Q1 fiscal 2025 results (fiscal ends in April), with revenues and earnings exceeding our estimates. The company reported revenue of $7.9 billion and adjusted earnings of $1.23 per share, compared to our estimates of $7.9 billion and $1.21, respect ...

Medtronic (MDT) reported $7.92 billion in revenue for the quarter ended July 2024, representing a year-over-year increase of 2.8%. EPS of $1.23 for the same period compares to $1.20 a year ago.The reported revenue represents a surprise of +0.22% over the Zacks Consensus Estimate of $7.9 billion. With the consensus EPS estimate being $1.20, the EPS surprise was +2.50%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their n ...

Core Viewpoint - Medtronic plc reported a strong performance in the first quarter of fiscal 2025, with adjusted earnings per share (EPS) and revenues exceeding expectations, driven by broad-based growth across its major segments [1][2][8]. Financial Performance - Adjusted EPS for the first quarter was $1.23, a 2.5% increase year over year, and beat the Zacks Consensus Estimate by the same margin [1] - Total worldwide revenues reached $7.92 billion, reflecting a 2.8% year-over-year increase on a reported basis and a 5.3% increase on an organic basis, surpassing the Zacks Consensus Estimate by 0.2% [2] Segment Performance - Cardiovascular Portfolio revenues grew 6.9% organically to $3.01 billion, with notable increases in Cardiac Rhythm & Heart Failure sales, which totaled $1.54 billion, up 7.5% year over year [3] - Medical Surgical Portfolio sales were $1.99 billion, up 1% year over year organically, with Surgical & Endoscopy revenues increasing by 1.3% [3] - Neuroscience revenues were $2.32 billion, up 5.3% year over year organically, with Neuromodulation reporting 9.6% organic growth [4] - Diabetes revenues rose 12.6% organically to $647 million, driven by the adoption of the MiniMed 780G system [4] Margins and Expenses - Gross margin contracted by 76 basis points to 65.1%, attributed to a 5.1% rise in the cost of revenues [5] - Research and development expenses increased by 1.2% to $676 million, while selling, general, and administrative expenses rose by 1.6% to $2.66 billion [5] - Adjusted operating margin decreased by 25 basis points year over year to 23% [5] Guidance - Medtronic updated its fiscal 2025 guidance, projecting organic revenue growth in the range of 4.5-5% [6] - The Zacks Consensus Estimate for fiscal 2025 worldwide revenues is $33.42 billion, indicating a 3.3% growth from the previous year [7] - Full-year adjusted EPS is projected to be between $5.42 and $5.50, slightly raised from earlier estimates [7] Strategic Developments - The company experienced durable growth across its segments, supported by new regulatory approvals and product launches, including the Evolut FX+ TAVR system and FDA approval for Simplera CGM [8] - A global partnership with Abbott was announced to enhance future CGM offerings [8]

Key TakeawaysMedtronic beat first-quarter earnings and revenue estimates on strong sales of its medical devices.Sales were higher at the company's cardiovascular, neuroscience, and diabetes divisions.Medtronic raised the low end of its full-year outlook for its organic revenue growth and adjusted EPS. Medtronic (MDT) shares advanced in intraday trading Tuesday as the medical technology firm posted better-than-expected results and raised its guidance on strong demand for its medical devices. The Ireland-base ...

Financial Data and Key Metrics Changes - The company reported a revenue growth of 5.3%, exceeding the midpoint of guidance by a full point [25] - Adjusted EPS increased by 3% on a reported basis and 8% on a constant currency basis [8][25] - Adjusted gross margin was 65.9%, down 50 basis points year-over-year, but ahead of expectations [26] - Adjusted operating margin was 24.4%, in line with expectations, showing a decline of 40 basis points compared to last year [27] Business Line Data and Key Metrics Changes - The cardiovascular portfolio accelerated to high single-digit growth, with cardiac rhythm management growing high single digits [26] - Diabetes segment grew by 13%, with double-digit growth in both US and international markets [15] - Neuromodulation grew by 10%, driven by new technology in pain stimulation and brain modulation [19] - Surgical robotics showed growth in installed base and utilization per system, with ongoing clinical trials progressing well [14] Market Data and Key Metrics Changes - US growth accelerated, driven by contributions from cardiac rhythm management, PFA, and neuromodulation [26] - International markets grew in the high single digits, including mid-teens growth in emerging markets [26] - The company expects to see continued growth in the structural heart market, particularly with the launch of the Evolut FX plus TAVR valve [13] Company Strategy and Development Direction - The company is focused on driving scale across manufacturing, technology, and commercial organizations while investing in new product innovation [9] - There is a commitment to capital allocation towards high-growth market opportunities, including tuck-in M&A [32][66] - The company aims to enhance digital capabilities and operational quality to support future growth [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth due to the beginning stages of exciting product cycles in high-growth markets [38] - The company raised its full-year revenue and EPS guidance based on Q1 outperformance and positive momentum [28] - Management highlighted the importance of securing broad reimbursement for hypertension treatments to unlock market potential [18] Other Important Information - The company repurchased $1.5 billion of shares since the last earnings call, totaling $4 billion over the past two quarters [27] - The partnership with Abbott for integrated CGM is expected to expand access to a broader installed base [17][47] Q&A Session All Questions and Answers Question: Sustainability of Q1 performance and guidance for the back half - Management indicated that there were no one-offs driving Q1 performance and expressed confidence in sustaining growth due to new product cycles [38][40] Question: Guidance on gross margin and EPS - Management discussed the strong gross margin performance and the impact of share repurchases on EPS guidance, noting that currency pressures would ease in the second half [41][43] Question: Strategy behind the partnership with Abbott in Diabetes - Management clarified that the strategy remains focused on providing a comprehensive AID system while expanding access through the partnership with Abbott [46][47] Question: Market outlook for TAVR and FX Plus launch - Management expressed optimism about the TAVR market and the positive reception of the FX Plus valve, anticipating continued growth [50][51] Question: Progress and commitment to Hugo surgical robotics - Management confirmed progress in clinical trials and reiterated commitment to the Hugo platform, emphasizing its potential as a midterm growth driver [59][61] Question: M&A strategy and focus areas - Management outlined the focus on tuck-in M&A opportunities that align with high-growth areas, emphasizing operational improvements [66] Question: Capacity concerns in Structural Heart market - Management indicated no current concerns about capacity constraints in the Structural Heart market, with plans to support hospitals in expanding capacity if needed [70][72] Question: Insights on Affera and its market ramp - Management highlighted strong demand for PFA technology and the unique positioning of Affera, with expectations for robust growth in the future [78]