Medtronic’s Q3 2026 revenues reach $9bn on strong PFA demand

Medtronic has reported full gross of $9bn successful Q3 of fiscal twelvemonth 2026 (FY26), led by the strongest maturation the institution has recorded successful its cardiovascular portfolio successful the past decade.

With gross for the 4th indicative of a year-over-year (YoY) emergence of 8.7%, Medtronic has reiterated FY26 gross maturation connected an integrated ground of astir 5.5%, with net anticipated to autumn successful the $5.62-$5.66 range.

In a probe note, William Blair expert Brandon Vasquez highlighted that fiscal third-quarter income bushed Wall Street estimates by 1%, demonstrating “another measurement successful the close direction” regarding the rollout of Medtronic’s cardinal maturation drivers.

The medtech giant’s cardiovascular portfolio, which includes the PulseSelect pulsed-field ablation (PFA) system, achieved gross of $3.46bn successful Q3, corresponding to a YoY uptick of 13.8%. Medtronic’s concern chief, Thierry Pieton, highlighted during a league telephone that the portfolio’s cardiac ablation conception (CAS) grew 80% YoY, with PFA accounting for 80% of this revenue.

Commenting connected Medtronic’s wide cardiovascular performance, Pieton said: “This represents the strongest maturation we person seen successful cardiovascular successful the past 10 years, excluding Covid comps.”

Beyond CAS, Pieton added that the remainder of the cardiovascular portfolio delivered combined mid-single-digit growth, stating that cardiac bushed absorption besides had a beardown quarter, with the merchandise enactment contributing 15% of full gross among the portfolio and increasing by “a steadfast 5%”.

Performance successful the 4th bushed analysts' mean estimation of $8.91bn, according to information compiled by the London Stock Exchange Group (LSEG) and seen by Reuters. Despite this, the medtech giant’s banal dipped by 3.6%, down from a pre-announcement marketplace adjacent terms connected 13 February of $99.49 to a 17 February marketplace unfastened terms of $95.88. Medtronic has a marketplace headdress of $123.6bn.

Elsewhere crossed the business, Medtronic’s neuroscience portfolio grew by 4.1% YoY to $2.56bn. Pieton conceded that maturation successful the portfolio was “a small below” expectations successful Q3 yet noted that the conception features 1 of Medtronic’s broadest pipelines, which is expected to “begin impacting growth” successful Q4.

Medtronic gained US Food and Drug Administration (FDA) support for Altaviva successful September 2025, an implantable tibial nervus stimulation (ITNS) strategy that delivers neuromodulation via a tiny instrumentality positioned supra the tibial nervus to supply attraction for patients suffering from impulse urinary incontinence (UUI). During the caller J.P. Morgan Healthcare Conference successful San Francisco, Medtronic CEO Geoff Martha asserted that Altaviva represented a billion-dollar marketplace opportunity.