Medtronic, Inc., a subsidiary of Medtronic plc, has issued €750 million in 2.950% Senior Notes due 2030 and €750 million in 4.200% Senior Notes due 2045. The offering is expected to generate net proceeds of approximately €1.49 billion, which will be used to repay existing senior notes maturing in 2025. The Notes are fully guaranteed by Medtronic Global Holdings S.C.A. and Medtronic plc, and have been approved for listing on the New York Stock Exchange.
The Notes will mature on October 15, 2030, and October 15, 2045, respectively, and will have general unsecured senior obligations ranking equally with other existing senior indebtedness. Medtronic, Inc. retains the option to redeem the Notes prior to their maturity under specified conditions. Additionally, the redemption of €500 million of existing senior notes due 2025 was executed on the same date as the issuance of the new Notes, contingent upon the successful completion of this offering.
linkSep 29, 2025 08:45:28
On September 15, 2025, Medtronic plc announced the pricing of an offering to issue €750 million in 2.950% Senior Notes due 2030 and €750 million in 4.200% Senior Notes due 2045. The net proceeds from this offering are intended to be used to repay existing 0.000% and 2.625% Senior Notes due 2025. This financial activity is reflected in the company's fiscal year 2026 adjusted earnings per share guidance previously reiterated on August 19, 2025.
Additionally, Medtronic Luxco has elected to redeem all €500 million of its outstanding 2.625% Senior Notes due 2025 on September 29, 2025, contingent upon the completion of the new notes issuance. The redemption will occur at 100% of the principal amount plus accrued interest. Notice of this redemption will be communicated to registered holders by the Paying Agent, and further details can be obtained from them.
linkSep 16, 2025 16:41:16
Medtronic plc announced its financial results for the first quarter of fiscal year 2026, reporting revenue of $8.6 billion, which represents an 8.4% increase compared to the previous year. The company achieved a GAAP diluted earnings per share (EPS) of $0.81, marking a 1% increase, while the non-GAAP diluted EPS rose by 2% to $1.26. The growth was driven by a nearly 50% increase in revenue from Cardiac Ablation Solutions, particularly in the U.S., alongside solid performances in other key product categories including Neuromodulation and Diabetes. Medtronic reiterated its guidance for organic revenue growth of approximately 5% for the fiscal year and raised its diluted non-GAAP EPS guidance to a range of $5.60 to $5.66, up from the previous range of $5.50 to $5.60.
Additionally, Medtronic's Board of Directors expanded from 11 to 13 members, appointing John Groetelaars and William Jellison as new directors. Both will serve on the newly formed Growth committee, with Jellison also joining the Operations committee. Their appointments are part of the company's ongoing efforts to enhance governance and drive growth. The company is focused on accelerating revenue growth in the second half of the fiscal year while increasing investments in research and development, sales, and marketing to foster long-term shareholder value.
linkAug 19, 2025 06:49:43
Medtronic plc has appointed Dr. Joon Lee, the CEO of Emory Healthcare, Inc., as an independent director of its Board, effective June 18, 2025. Dr. Lee will contribute to the Science and Technology Committee and Compensation and Talent Committee. His extensive background includes over 25 years at the University of Pittsburgh Medical Center, where he held significant leadership roles, including Executive Vice President and President of Physician Services.
Dr. Lee is recognized for his expertise in interventional cardiology and healthcare management. He has overseen a major health system with substantial revenue and a large workforce. His experience includes managing patient services and financial oversight, along with roles in academic medicine and clinical affairs. Dr. Lee's appointment may influence Medtronic's strategic direction and operational focus in healthcare technology.
linkJun 23, 2025 16:17:20
Medtronic plc reported its fourth quarter and fiscal year 2025 financial results, showing a revenue increase of 3.9% in Q4, totaling $8.9 billion, and a fiscal year revenue of $33.5 billion, up 3.6%. The company also reported significant increases in earnings per share, with Q4 GAAP EPS rising 67% to $0.82 and fiscal year GAAP EPS increasing 31% to $3.61. Medtronic returned $6.3 billion to shareholders in FY25 and announced a dividend increase to $0.71 per share for Q1 FY26, marking the 48th consecutive year of dividend increases. Additionally, the company plans to separate its Diabetes business into a standalone public company within 18 months, which may impact future financial performance and shareholder value.
The company highlighted strong performance in its key franchises, including significant growth in Cardiac Ablation Solutions, which reported nearly 30% revenue growth in Q4. Medtronic also received FDA approval for several products, including the Hugo™ robotic-assisted surgery system and BrainSense™ Adaptive Deep Brain Stimulation technology. The leadership transition in the Cardiovascular Portfolio was also announced, with Skip Kiil promoted to executive vice president. Overall, Medtronic's operational metrics indicate a solid foundation for future growth, supported by ongoing investments in its key growth drivers.
linkMay 21, 2025 06:47:23
Medtronic reported a revenue increase of 2.5% for the third quarter of fiscal year 2025, totaling $8.3 billion, with organic growth at 4.1%. Notable growth was seen in the Cardiovascular and Diabetes portfolios, with Cardiac Ablation Solutions revenue rising significantly due to the popularity of pulsed field ablation products. The company also benefited from a recent approval for Renal Denervation coverage, which is expected to enhance future revenue potential in hypertension treatment. Additionally, non-GAAP diluted EPS increased by 7% to $1.39, reflecting improved earnings performance.
However, there were some negative aspects in the report, particularly in the Medical Surgical Portfolio, which experienced a revenue decline of 1.9% as reported and 0.4% on an organic basis. This decline was attributed to pressures in the stapling segment and a decrease in respiratory-related hospitalizations impacting blood oxygen management products. The overall performance of the Neuroscience and Medical Surgical segments showed mixed results, with certain areas underperforming despite gains in other divisions.
linkFeb 18, 2025 06:46:40
Medtronic has announced the appointment of Thierry Piéton as Chief Financial Officer, effective March 3, 2025. Piéton previously served as CFO at Renault Group, where he achieved significant operational improvements and shareholder value. His extensive experience in various industries, including healthcare, positions him to lead Medtronic's global finance organization effectively. Gary Corona, the interim CFO, will transition to a new role as Senior Vice President, Corporate Finance, after Piéton's arrival.
While recognizing the contributions of Gary Corona in delivering revenue growth and exceeding earnings expectations, the transition to a new CFO represents a significant change for Medtronic. The company is poised for a new leadership direction under Piéton, which may bring uncertainties as he integrates into the organization and implements his strategies. Medtronic's future financial performance will depend on how effectively Piéton navigates these changes.
linkJan 21, 2025 06:51:55
Medtronic announced its financial results for the second quarter of fiscal year 2025, reporting a revenue of $8.4 billion, which reflects a 5.3% increase compared to the previous year. The company also noted significant growth in various segments, including a 12.4% rise in its Diabetes division and a 6.1% increase in its Cardiovascular Portfolio. Additionally, Medtronic raised its guidance for organic revenue growth and diluted non-GAAP earnings per share (EPS) for the fiscal year, indicating positive momentum across its business operations.
However, not all aspects of the report were favorable. While GAAP net income and diluted EPS showed substantial increases of 40% and 46%, respectively, the non-GAAP diluted EPS experienced a slight decline of 3%. The Medical Surgical Portfolio reported only a 1.2% increase in revenue, with some divisions, like Surgical & Endoscopy, facing flat organic growth. Furthermore, foreign currency translation negatively impacted the non-GAAP EPS by 9 cents, highlighting potential challenges amid global market fluctuations.
linkNov 19, 2024 06:46:38
Medtronic has reported positive financial results for the first quarter of fiscal year 2025, with revenues reaching $7.9 billion, reflecting a 2.8% increase. The company also saw significant growth in its product lines, particularly in diabetes and cardiovascular solutions. The earnings per share also saw a considerable rise, indicating strong performance across various segments. Medtronic has raised its revenue growth and earnings guidance for the fiscal year, suggesting confidence in continued growth driven by innovation and market demand.
However, not all segments performed equally well, as the Medical Surgical Portfolio experienced a slight decline in revenue. Additionally, foreign currency fluctuations impacted earnings, although the company managed to maintain an overall positive outlook. Despite these challenges, Medtronic's leadership expressed optimism about the company's trajectory, emphasizing the importance of product innovation and operational efficiency in driving future growth.
linkAug 20, 2024 06:46:44
Medtronic's CFO, Karen Parkhill, is leaving to join HP Inc. The company expressed gratitude for her leadership and reaffirmed financial guidance. Parkhill will continue until August 2, with an interim CFO appointed. Medtronic remains committed to its growth strategy and global impact on healthcare technology.
linkJun 26, 2024 09:01:25