By: IPP Bureau
Last updated : September 03, 2026 7:29 am
The company now expects organic revenue growth of 7.25%-7.75% for FY27, compared with its earlier guidance of 6.75%-7.25%
Medtronic reported revenue of around US$9.8 billion in Q1 FY27, marking 13.7% year-over-year growth, driven by double-digit growth across its major business segments.
The strong performance has prompted the MedTech major to raise its full-year FY27 revenue and earnings outlook.
Medtronic now expects organic revenue growth of 7.25%-7.75% for FY27, compared with its earlier guidance of 6.75%-7.25%. Adjusted earnings are expected at US$5.94-US$6 per share, up from the previous range of US$5.90-US$6.
The cardiovascular business was Medtronic’s strongest-performing segment in Q1, generating around US$3.9 billion in revenue, up 19.5% year over year.
Electrophysiology therapies (EPT), which includes the company’s cardiac ablation solutions such as the PulseSelect pulsed-field ablation (PFA) system and Affera mapping system, generated around US$2.2 billion, representing 29.5% YoY growth.
EPT revenue in the US grew 41.2% to approximately US$1.2 billion. Medtronic CFO Thierry Pieton said cardiac ablation solutions (CAS) delivered 88% global growth and increased 139% in the US during the quarter.
“While we are gaining share rapidly in CAS, this business is still in the early stages of its trajectory. In Q2, we expect to outpace the market by more than 3x, with growth rates moderating over the remainder of the fiscal year as we lap increasingly strong comps,” Pieton said.
Medtronic’s PulseSelect became the first PFA system to receive US FDA approval in December 2023. PFA is used to treat atrial fibrillation (AFib), a common heart rhythm disorder associated with an increased risk of stroke and heart failure.
The PFA market is increasingly competitive, with Boston Scientific, Johnson & Johnson and Abbott also having FDA-approved systems. More than 37 million people globally are estimated to live with AFib, with the patient population expected to more than double by 2050.
Medtronic’s Neuroscience business generated around US$2.7 billion in Q1 revenue, up 10.3% YoY, while MedSurgrevenue rose 10% to approximately US$2.3 billion.