Medtronic Q3 Earnings Call Highlights

Core Insights - Medtronic has launched a direct-to-consumer "Go Beyond" campaign, resulting in a significant increase in website traffic, with visits rising from approximately 50,000 to 2.5 million [1] - The company is focusing on scaling its Symplicity platform for renal denervation, targeting the 18 million patients in the U.S. with uncontrolled hypertension [2] - Medtronic's management highlighted strong growth in various product areas, including cardiovascular and diabetes segments, while reiterating financial guidance for fiscal 2026 and expectations for high single-digit adjusted EPS growth in fiscal 2027 [4][5] Product and Market Developments - The cardiovascular portfolio revenue grew 11% year-over-year, with a notable 80% growth in cardiac ablation systems (CAS), driven by pulsed field ablation (PFA) [12] - The MiniMed diabetes business reported a 15% increase in revenue, with significant growth attributed to international markets and new product launches [16] - Medtronic is scaling its Symplicity Spyral and Altaviva platforms, with early traction observed in patient referrals and physician training [6] Financial Performance - Medtronic reported revenue of $9.0 billion for the quarter, reflecting an 8.7% increase, with adjusted gross margin at 64.9% [5][17] - Adjusted operating profit reached $2.2 billion, with an adjusted operating margin of 24.1%, exceeding expectations [18] - The company maintained its fiscal 2026 organic revenue growth guidance of approximately 5.5% and adjusted EPS guidance of $5.62 to $5.66 [19] Regulatory and Technological Advancements - The Hugo robotic-assisted surgery system received FDA clearance for urologic procedures, marking the beginning of its U.S. launch [7] - The Stealth Access Surgical System for spinal procedures was also cleared by the FDA, integrating AI-powered planning and robotics [10][11] - Medtronic's Touch Surgery digital ecosystem installations surpassed 1,000 globally, showcasing a 20% sequential growth [8]