Medtronic Q1 FY27 10-Q: 14% Revenue Growth, Two Acquisitions, and $1.1B Antitrust Verdict
MDT sits 27% above its 52-week low of $73.31.
Summary
Medtronic's Q1 FY27 10-Q confirms 14% revenue growth and 41% EPS growth, while disclosing two new acquisitions, a $700M robotics investment, and two major litigation verdicts totaling over $1.2B in potential damages.
Key Events · Earnings and Guidance · MDT
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Q1 FY27 Revenue Up 14%
Net sales of $9.76B, up 14% year-over-year, including a $570M benefit from the extra week in the 53-week fiscal year. Diluted EPS of $1.14, up 41% from $0.81.
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Two Acquisitions Closed
Scientia Vascular acquired June 12, 2026 for $681M total purchase price (including $123M contingent consideration) and SPR Therapeutics acquired July 16, 2026 for $654M, both expanding the Neuroscience Portfolio.
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$700M Cornerstone Robotics Investment
Subsequent event disclosed: strategic partnership with Cornerstone Robotics announced September 1, 2026, including a $700M cash investment and distribution rights for the Sentire surgical system outside the U.S.
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Antitrust Verdict: $382M to be Trebled
Applied Medical antitrust jury verdict of $382M (February 5, 2026) will be automatically trebled to approximately $1.1B. Medtronic plans to appeal and has not recorded a liability, citing uncertainty of the ultimate outcome.
Analysis · MDT · Industrial Applications And Services
Medtronic's Q1 FY27 10-Q confirms the strong results previewed in the September 1 8-K — net sales of $9.76B (up 14% year-over-year, including a $570M benefit from an extra week) and diluted EPS of $1.14 (up 41%). The filing adds material new detail: two tuck-in acquisitions closed during the quarter (Scientia Vascular for $681M and SPR Therapeutics for $654M), a $700M strategic investment in Cornerstone Robotics announced September 1, and significant litigation updates including an $88M hernia mesh verdict and a $382M antitrust verdict that will be trebled to approximately $1.1B. The company has not recorded liabilities for either verdict, citing strong appeal arguments. CEO Geoff Martha also adopted a 10b5-1 plan to sell up to 50,000 shares starting October 15, 2026.
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In the 30 days to Nov 2, 2026, 32.7% of the 1910 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MDT was trading at $93.10 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $119.2B. The 52-week trading range was $73.31 to $106.33. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.