Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

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<ul><li>Medtronic's first quarter results for fiscal year 2026 reflect a combination of steady performance and strategic areas of opportunity.</li><li>The company delivered mid-single-digit organic revenue growth of 4.8%, in line with prior guidance, showcasing consistency in a challenging operational environment.</li><li>Adjusted earnings per share (EPS) surpassed expectations, coming in $0.03 above the mid-point guidance, which underscores the effectiveness of cost management and strategic investment balancing.</li></ul>

Medtronic's first quarter results for fiscal year 2026 reflect a combination of steady performance and strategic areas of opportunity.The company delivered mid-single-digit organic revenue growth of 4.8%, in line with prior guidance, showcasing consistency in a challenging operational environment.Adjusted earnings per share (EPS) surpassed expectations, coming in $0.03 above the mid-point guidance, which underscores the effectiveness of cost management and strategic investment balancing.

Medtronic plc: Why Its Innovations in Diabetes Management Hold The Key To Its Future!

<ul><li>Medtronic's fourth-quarter results for fiscal year 2025 demonstrated a robust finish with a reported revenue growth of 5.4%.</li><li>The company experienced strong performance across its cardiovascular, neuromodulation, and diabetes segments, with cardiovascular growth accelerating to 8% due to innovations in pulse field ablation and cardiac ablation solutions experiencing nearly 30% growth.</li><li>This momentum was further supported by double digit growth in neuromodulation and diabetes, highlighting the effectiveness of Medtronic’s innovation-centric strategy.</li></ul>

Medtronic's fourth-quarter results for fiscal year 2025 demonstrated a robust finish with a reported revenue growth of 5.4%.The company experienced strong performance across its cardiovascular, neuromodulation, and diabetes segments, with cardiovascular growth accelerating to 8% due to innovations in pulse field ablation and cardiac ablation solutions experiencing nearly 30% growth.This momentum was further supported by double digit growth in neuromodulation and diabetes, highlighting the effectiveness of Medtronic’s innovation-centric strategy.

Medtronic Doubles Down on Innovation as Cardiovascular Tech Takes Center Stage!

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GSBR Research

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<ul>
<li>The separation will occur via a two step transaction - an initial minority IPO carve-out followed by a split-off of the remaining stake.</li>
<li>Two-Step separation allows investors an early opportunity to assess and value the Diabetes business independently, while Medtronic ultimately divests full ownership over time.  Diabetes business could be valued between $8-$11B.</li>
<li>The move will allow Medtronic to focus on its faster-growing, higher-margin businesses such as pulsed field ablation and renal denervation.</li>
</ul>


The separation will occur via a two step transaction - an initial minority IPO carve-out followed by a split-off of the remaining stake.
Two-Step separation allows investors an early opportunity to assess and value the Diabetes business independently, while Medtronic ultimately divests full ownership over time.  Diabetes business could be valued between $8-$11B.
The move will allow Medtronic to focus on its faster-growing, higher-margin businesses such as pulsed field ablation and renal denervation.


Medtronic Plc. (NYSE: MDT) To Separate Its Diabetes Business

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.</li>
<li>The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.</li>
<li>In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.</li>
</ul>



Medtronic Plc (MDT US) reported Q2FY24 revenue of $8B, representing 5% organic growth, topping guidance of 4.0–4.5%. Cardiovascular, neuroscience, and medical surgical grew mid-single-digit with diabetes accelerating to high-single-digit.
The company now expects FY24 organic revenue growth of 4.75% versus the prior 4.5%. Medtronic raised FY24 adjusted EPS guidance to $5.13–5.19 from $5.08–5.16 earlier.
In November, the company has received FDA approval for innovative renal denervation device for the treatment of hypertension, which should open a multi-billion-dollar market opportunity.


Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

<ul>
<li>
<a href="https://www.smartkarma.com/entities/medtronic-plc" target="_blank" data-smartkarma-citation="entities:14982:1" rel="noopener">Medtronic Plc (MDT US)</a> has submitted the Hugo robotic-assisted surgery system to the FDA for a urologic indication in 1Q25. In clinical trial, Hugo met the safety and effectiveness endpoints.</li>
<li>Approval is expected in 2H25. Medtronic expects Hugo would contribute to the company’s surgical business in FY26 and will be ‘a meaningful growth driver’ for the company in the medium-term.</li>
<li>Medtronic is well-positioned for accelerated growth, driven by momentum in some of the most attractive growth markets in MedTech. The U.S. approval of Hugo is an icing on the cake.</li>
</ul>



Medtronic Plc (MDT US) has submitted the Hugo robotic-assisted surgery system to the FDA for a urologic indication in 1Q25. In clinical trial, Hugo met the safety and effectiveness endpoints.
Approval is expected in 2H25. Medtronic expects Hugo would contribute to the company’s surgical business in FY26 and will be ‘a meaningful growth driver’ for the company in the medium-term.
Medtronic is well-positioned for accelerated growth, driven by momentum in some of the most attractive growth markets in MedTech. The U.S. approval of Hugo is an icing on the cake.


Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

United States

Medtronic, PLC develops therapeutic and diagnostic medical products. The Company's principal products include those for bradycardia pacing, tachyarrhythmia management, atrial fibrillation management, heart failure management, heart valve replacement, malignant and non-malignant pain, and movement disorders. Medtronic's products are sold worldwide.

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Medtronic (MDT UN)

Medtronic plc: Why Its Innovations in Diabetes Management Hold The Key To Its Future!

Medtronic's first quarter results for fiscal year 2026 reflect a combination of steady performance and strategic areas of opportunity. The company...

Baptista Research

Medtronic Doubles Down on Innovation as Cardiovascular Tech Takes Center Stage!

Medtronic's fourth-quarter results for fiscal year 2025 demonstrated a robust finish with a reported revenue growth of 5.4%. The company...

Baptista Research

Medtronic Plc. (NYSE: MDT) To Separate Its Diabetes Business

Medtronic plans to separate its Diabetes business through a two-step transaction. The transaction will be value accretive for both Medtronic and...

GSBR Research

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Medtronic plc: Why Its Innovations in Diabetes Management Hold The Key To Its Future!

Medtronic's first quarter results for fiscal year 2026 reflect a combination of steady performance and strategic areas of opportunity. The company...

Baptista Research

Medtronic Doubles Down on Innovation as Cardiovascular Tech Takes Center Stage!

Medtronic's fourth-quarter results for fiscal year 2025 demonstrated a robust finish with a reported revenue growth of 5.4%. The company...

Baptista Research

Medtronic Plc. (NYSE: MDT) To Separate Its Diabetes Business

​Medtronic plans to separate its Diabetes business through a two-step transaction. The transaction will be value accretive for both Medtronic and...

GSBR Research

Medtronic (MDT US): Beat-And-Raise Q2; Weight Loss Drugs Not to Impact Growth; New Device Approval

​Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Tina Banerjee

Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy

​Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...

Tina Banerjee

Medtronic plans to separate its Diabetes business through a two-step transaction. The transaction will be value accretive for both Medtronic and...

Medtronic reported Q2FY24 organic revenue growth of 5%. The company raised FY24 organic revenue growth and EPS guidance. FDA approval for a new...

Medtronic submits Hugo robotic-assisted surgery system to FDA for urologic indication, with expected approval in 2H25. Hugo is poised to be a...