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Getting the latest healthcare news for you
Getting the latest healthcare news for you
Medtronic raised its fiscal 2027 profit and revenue growth forecasts, fueled by surging demand for its cardiovascular devices. The company's pulsed field ablation portfolio — used to treat irregular heart rhythms — saw a remarkable 88% jump in sales. Shares climbed over 9% in premarket trading as Medtronic beat Wall Street estimates across all business segments.
Medtronic is riding a cardiovascular wave. The Ireland-based medical device giant raised the lower end of its fiscal 2027 profit forecast and bumped up its annual organic revenue growth outlook to 7.25%–7.75%, up from its prior 6.75%–7.25% projection. The upgrade comes on the back of strong demand for its heart devices, particularly those used in complex cardiovascular procedures.
The company's Q1 revenue hit $9.76 billion — well above the $9.55 billion analysts expected — and it beat earnings estimates across every segment. Its cardiovascular unit, the company's largest, was the standout performer, with sales surging 19.5% to $3.93 billion. Medtronic also announced an $80 million investment in heart valve repair startup Pi-Cardia (with an option to acquire for $210 million) and a $700 million stake in surgical robotics firm Cornerstone Robotics.
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Why it matters: Medtronic's results reflect a broader industry trend — physicians are rapidly adopting minimally invasive cardiac technologies, signaling growing confidence in next-generation heart care tools and strong near-term demand across the medical device sector.
