Medtronic reported first quarter 2027 financial results that exceeded analyst expectations on both the top and bottom lines, driven by high-teens growth in its Diabetes and Cardiovascular portfolios. While reported results were significantly aided by an extra fiscal week, underlying organic momentum across all major segments led management to raise its full-year 2027 organic revenue and earnings guidance.
Key Highlights
- Revenue of $9.8 billion increased 13.7% organically, benefiting from approximately $570 million due to an extra fiscal week in the reporting period.
- Diabetes revenue reached $843 million, growing 14.9% organically and exceeding the consensus estimate of $675 million due to sustained MiniMed 780G system adoption.
- Cardiovascular portfolio sales rose 18.9% organically to $3.9 billion, supported by 88% growth in Cardiac Ablation Solutions and a high-20s increase in Electrophysiology.
- Full-year 2027 organic revenue growth guidance was raised to a range of 7.25% to 7.75%, up from the previous midpoint of 7.0%.