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Medtronic plc

MDT

Healthcare · 90.96 -0.7% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Medtronic plc's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 31 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 30 directly disclosed connections are confirming.

Company-0.7% todayVolume comparison unavailable
Market group0 of 31 activeMixed Multi-Sector · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • MDT's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if MDT's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Healthcare · Medical Devices

No new filing conclusion is available. 0 of 31 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 30 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • MDT's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements115
Verified relationships14
Evidence supporting the case
  • Latest annual revenue changed +8.4% year over year.
  • Operating cash flow covered net income at 1.53x in the latest annual period.
  • Foreign exchange has repeated favorable evidence across 4 filings.
  • Product pipeline and R&D has repeated favorable evidence across 4 filings.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position
  • P/E is 29% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 19% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

90.96
6m+4.1%12m-1.5%24m+1.1%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-04-29$31.7B+5.2%$3.73-0.2%
2023-04-28$31.2B-1.4%$2.82-1.4%
2024-04-26$32.4B+3.6%$2.76-0.2%
2025-04-25$33.5B+3.6%$3.61-3.0%
2026-04-24$36.4B+8.4%$3.73-0.1%

What management says matters

Persistent and emerging business drivers

Legal and regulatory exposurenegative · 5 filings
The increase was primarily driven by an increase in cash collected from customers due to an increase in sales and decrease in cash paid for taxes and certain litigation payments, partially offset by an increase in cash paid to suppliers and other vendors.
10-Q · Sep 3, 2026
Foreign exchangepositive · 4 filings
The increase in total debt was primarily driven by the increase in short-term borrowings, partially offset by the impact of foreign exchange rates on our foreign currency denominated debt.
10-Q · Sep 3, 2026
Product pipeline and R&Dpositive · 4 filings
For the three months ended July 31, 2026, the change in other operating expense (income), net was largely driven by a reduction in income relating to our research and development funding arrangements, partially offset by the net impact of currency remeasureme…
10-Q · Sep 3, 2026
Credit and interest ratesmixed · 3 filings
The increase in total debt was primarily driven by the increase in short-term borrowings, partially offset by the impact of foreign exchange rates on our foreign currency denominated debt.
10-Q · Sep 3, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 3.2× · EV/sales 3.2×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

90.96-0.7% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for MDT. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for MDT. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind MDT

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

ABTAbbott LaboratoriespartnerFeb 24, 2026

Our ability to meet growing demand for our existing products and to successfully develop, obtain regulatory approval, manufacture and commercialize the products within our pipeline, including our partnership with Abbott to expand CGM options for people living…

DVADaVita Inc.partnerJun 18, 2026

This sale was part of an agreement between Medtronic and DaVita to form a new, independent kidney care-focused medical device company (“Mozarc Medical” or "Mozarc") with equal equity ownership.

Depended on by

AORTArtivion, Inc.competitorMay 8, 2026

On-X heart valves compete primarily with mechanical valves from Abbott Laboratories, Medtronic, plc.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 32 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

MDT is currently a Follower in the organic co-movement group Mixed Multi-Sector. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for MDT; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.