GALWAY, Ireland, September 1, 2026, 14:31 IST
- At 09:30:19 EDT, Medtronic shares were up 3.18% at $93.56.
- Revenue for the fiscal first quarter increased 13.7% to $9.756 billion, with adjusted earnings per share at $1.45.
- The company boosted its outlook and announced an approximately $700 million investment in robotics.
Shares of Medtronic plc NYSE:MDT rose 3.18% to $93.56 at the start of trading in New York on Tuesday. The medical device manufacturer increased its outlook for revenue and profit for fiscal 2027 Yahoo Finance quote.
The increase is driven by more than just surpassing earnings estimates. Medtronic allocated roughly $700 million to Cornerstone Robotics, an amount that represents 37.6% of its first-quarter adjusted net profit.
MDT reprices at the opening bell
U.S. dollars; prior close to first regular-session quote
The headline growth rate requires context. An additional reporting week added roughly $570 million, accounting for 5.8% of sales during the quarter Medtronic results.
Revenue was $9.756 billion, an increase of 13.7% both reported and organic. Adjusted earnings per share stood at $1.45. Analysts’ forecasts were $9.55 billion in revenue and $1.39 in earnings per share Yahoo Finance.
Quarter and outlook scorecard
Sources: Medtronic and Yahoo Finance; fiscal Q1 ended July 31, 2026.
Medtronic increased its organic sales growth guidance to a range of 7.25% to 7.75%, up from the earlier forecast of 6.75% to 7.25%. The company also elevated its adjusted EPS minimum by four cents to $5.94.
Cardiovascular led performance within the portfolio, with organic sales up 18.9%. Diabetes posted a 14.9% increase, and both of the other main portfolios achieved growth rates of at least high single digits.
Organic growth was broad, but cardiovascular led
Fiscal first-quarter organic revenue growth by portfolio
Source: Medtronic fiscal Q1 results.
Under the Cornerstone agreement, distribution rights for the Sentire surgical system in authorized markets outside the United States are secured. Medtronic plans to provide Sentire alongside Hugo, describing the two systems as complementary Cornerstone announcement.
Hugo is present in over 35 countries. Medtronic projects that overall procedures will surpass 50,000 in the current fiscal year. The initiative aims at a market where robotic surgery usage is still in the single digits. The expansion also intensifies rivalry with Intuitive Surgical, Inc. NASDAQ:ISRG.
Investments are not limited to robotics. Medtronic plans to commit as much as $80 million to Pi-Cardia, and has obtained an acquisition option carrying an upfront value of up to $210 million, along with potential earn-outs Pi-Cardia announcement.
Chief Executive Geoff Martha pointed to the “broad-based strength of performance across our businesses.” That broad performance is significant. The additional week is not a regular occurrence each quarter.
Robotics spend meets a constructive Street
Sources: Medtronic, Cornerstone announcement and Google Finance, viewed September 1, 2026.
Of 19 analysts covered by Google Finance, 13 assigned Buy ratings while six recommended Hold. No analysts rated the stock as Sell. The average price target was $96.88, representing a 3.5% premium to the opening price Google Finance.
Risks: The outlook is based on non-GAAP metrics and current foreign exchange rates. Growth was boosted by the additional week. Delays in Sentire approvals, adoption, or distribution could affect returns if robotics investments increase.
Investors encounter a clearer challenge. Once the calendar advantage subsides, organic growth needs to be sustained. The expanded robotics portfolio must convert significant investment into revenue while maintaining margins.
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