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2w ago

Medtronic Beats Estimates on Heart‑Device Demand, Flags Tariff and Guidance Headwinds

Rapid adoption of pulsed field ablation and TAVR is lifting sales even as rising tariff costs and below‑consensus fiscal 2027 guidance raise margin risks.

Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration
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Overview

  • Medtronic reported fourth‑quarter revenue of $9.81 billion and adjusted earnings of $1.55 per share, narrowly beating Wall Street estimates.
  • Cardiovascular sales climbed 13.8% to $3.8 billion, driven by strong uptake of pulsed field ablation systems and transcatheter aortic valve replacement (TAVR) devices.
  • Neuroscience revenue rose 5% to $2.75 billion, a gain that came in slightly below analysts' expectations.
  • The company is rebuilding its portfolio through focused tuck‑in deals, including an agreement to acquire SPR Therapeutics for about $650 million and recent moves on CathWorks, Scientia Vascular and Fortimedix.
  • Medtronic set fiscal 2027 adjusted EPS guidance of $5.90 to $6.00 per share and forecast roughly a $300 million tariff headwind, a combination that could tighten margins and temper investor enthusiasm.