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Medtronic plc

MDT

Healthcare · 86.60 -0.6% today

You’ve read what changed. Here’s whether the market is confirming it.

Partial group confirmationMarket checked 1 Oct, 15:15 GMT-4

Market read

Medtronic plc's move is spreading beyond its market group.

MDT accounts for 1.5% of the group's measured movement across 7.1 effective names. all 10 measured members are falling in raw terms, but 0 of 10 session-normalized paths align to the mixed. Capital-flow agreement is 18%, so confirmation is not yet clean. No verified headline preceded the measured group move.

MOVE ANATOMY

Is this move genuinely shared?

Session-normalized 5m paths
Role in the moveIndependent mover#10 of 10 by movement share
Group movement share1.5%Absolute path energy—not portfolio weight
Relative path+0.12%mixed
Effective breadth7.1 / 10broad
Relative alignment0/10mixed path · 0 counter-moving
Capital-flow agreement18%not yet clean
SEQUENCE READ

No material onset for MDT could be timestamped inside the aligned 5-minute window.

EVIDENCE COVERAGE

5 of 10 members in Packaged Foods & Beverages are active. 0 of 8 disclosed connections are confirming.

What would change this read
  • At least 7 of 10 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • SJM remains aligned with the group in the next market snapshot.

Invalidation: The live read weakens if participation falls to 3 of 10 members or fewer.

Watch this read

Research brief

The story so far

Healthcare · Medical Devices

MDT accounts for 1.5% of the group's measured movement across 7.1 effective names. all 10 measured members are falling in raw terms, but 0 of 10 session-normalized paths align to the mixed. Capital-flow agreement is 18%, so confirmation is not yet clean. No verified headline preceded the measured group move.

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
  • At least 7 of 10 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • SJM remains aligned with the group in the next market snapshot.

Company research

Understand the business, not just the ticker

As of Oct 1, 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 observations615
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 21% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 25% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 30, 2026

86.31
6m-0.4%12m-8.2%24m-3.5%
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 3.1× · EV/sales 3.0×. 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

86.60-0.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 1 Oct, 15:15 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 Participant in the organic co-movement group Packaged Foods & Beverages. 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.

Context history

Theme membership history

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