TLDR:
- Medtronic posts 8.7% revenue growth in Q3 FY26, led by cardiac and diabetes.
- Cardiac ablation division sees 80% revenue growth, driven by PFA tech.
- Diabetes business grows 8.3%, fueled by strong international demand.
- Medtronic’s Q3 operating profit hits $1.464B, reflecting solid margins.
- Company maintains strong growth outlook, bolstered by new market expansion.
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Medtronic plc (MDT) has reported a solid third-quarter performance for the fiscal year 2026, surpassing expectations. The company generated $9.0 billion in revenue, a rise of 8.7% as reported, and 6.0% on an organic basis. The growth in revenue was driven by strong performances across key portfolios, particularly in cardiac ablation and diabetes.
Cardiac Ablation Revenue Sees Robust Growth
Medtronic’s Cardiac Ablation Solutions business saw remarkable growth during Q3. Revenue increased by 80%, including a 137% jump in the U.S. The success was largely fueled by the strength of Medtronic’s pulsed field ablation (PFA) portfolio, which continues to make strides in treating cardiac arrhythmias.
The company achieved significant regulatory milestones. Medtronic secured the CE Mark for its Sphere-360™ device, further solidifying its position in the cardiac ablation market. The U.S. pivotal trial for the device was also initiated, signaling potential long-term benefits for MDT’s growth in this sector.
Medtronic’s ability to accelerate innovation in cardiac care is contributing to its strong market position. The combination of an expanding portfolio and increasing adoption of PFA technologies highlights the company’s leadership in the space.
Diabetes Revenue Rises on International Demand
The diabetes division at Medtronic also posted impressive results during the quarter. Revenue for the business grew by 8.3%, driven primarily by strong international market performance. This growth showcases the expanding global demand for Medtronic’s diabetes products, including its insulin pumps and continuous glucose monitoring systems.
Medtronic’s emphasis on expanding its presence in international markets has paid off. The company’s ability to cater to diverse regions with tailored solutions is helping to drive growth. As Medtronic continues to innovate within its diabetes portfolio, the company remains a dominant force in the market.
With a robust pipeline of future products, Medtronic aims to sustain growth in its diabetes division. The global shift toward better diabetes management solutions presents significant opportunities for MDT.
Strong Financial Performance Reinforces Market Confidence
Medtronic’s financial results further strengthen its position in the healthcare sector. Q3 GAAP operating profit reached $1.464 billion, with an operating margin of 16.2%. Non-GAAP operating profit stood at $2.177 billion, reflecting a margin of 24.1%, underscoring the company’s ability to generate strong profitability.
Medtronic continues to build confidence in its future, maintaining its FY26 organic revenue and EPS guidance. CEO Geoff Martha highlighted the company’s strategy of expanding into new markets and investing in high-growth opportunities, which is expected to drive sustained long-term growth. Medtronic’s strong portfolio and innovative pipeline offer a promising outlook for the coming quarters.
