Medtronic Plc

Strong Revenue Growth: Medtronic reported Q3 revenue of $8.3 billion, with an organic growth of 4.1% year-over-year, marking the ninth consecutive quarter of mid-single-digit growth. Notably, Cardiac Ablation Solutions (CAS) experienced remarkable 22% growth driven by the Pulse Field Ablation (PFA) portfolio.

Positive Outlook for Q4 and FY ‘26: The company anticipates a significant acceleration in revenue and earnings per share (EPS) growth in Q4, expecting to achieve another quarter of mid-single-digit revenue growth. For fiscal year 2025, they reiterated organic revenue growth guidance of 4.75% to 5% and high-single-digit EPS growth for the second half of the fiscal year.

Challenges in Surgical Portfolio: The medical surgical segment faced a temporary decline attributed to distributor inventory destocking, impacting growth by approximately 200 basis points in Q3. Although there are concerns about consistent growth, Medtronic expects to return to normal purchasing patterns as distributors reach their inventory goals, starting in Q1 of FY ‘26.