By Connor Hart
Medtronic said its profit and sales rose during its fiscal fourth quarter, reflecting steps the company has taken to improve business performance and drive growth.
The medical-device maker posted a profit of $1.24 billion, or 96 cents a share, for its three months ended April 24, compared with $1.06 billion, or 82 cents a share, in last year's comparable quarter.
Stripping out certain one-time items, earnings were $1.55 a share. Analysts polled by FactSet had expected adjusted earnings of $1.54 a share.
Net sales climbed 9.9% to $9.81 billion, ahead of Wall Street models for $9.62 billion. On an organic basis, sales were up 6.6%.
Cardiovascular sales jumped 14% to $3.8 billion, making it Medtronic's largest top-line contributor. Neuroscience sales rose 5% to $2.75 billion, while revenue across its medical-surgical unit climbed 8% to $2.39 billion.
"These results represent the compounding impact of deliberate choices we've made to strengthen our strategy, sharpen execution and invest in the areas that will drive our future," Chief Executive Geoff Martha said.
The company saw continued strength across some of its largest businesses, while also building momentum across emerging, high-growth opportunities, he added.
Looking ahead, Medtronic guided for adjusted earnings of $5.90 to $6 a share over the coming year, compared with analyst views for $6.05 a share. Revenue is projected to grow 6.8% to 7.3% year-over-year, on an organic basis.
Separately, Medtronic on Wednesday also raised its quarterly dividend by a penny and said it has made strategic investments into two privately held companies focused on the development of intracardiac echocardiography, or ICE, catheter technologies.
ICE catheters provide real-time, high-resolution imaging of the heart during electrophysiology procedures, according to Medtronic. The company didn't detail the investments but said they further reinforce the momentum of its cardiac ablation business.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 03, 2026 07:10 ET (11:10 GMT)
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