Medtronic plc

Company facts

Industry

Electromedical & Electrotherapeutic Apparatus

Headquarters

Galway

Most recent report

8-K, filed Oct 19, 2026

Incorporated

N/A

Filings on record

1,000+ filings

On EDGAR

CIK 1613103

Fiscal year ends

April

Filer status

Large accelerated filer

What to read: Jul 2026 10-Q

SECSift found 3 of 10 sections worth reading, with 0 positive, 13 notable, and 3 negative flags.

• Financial Statements (Item 1)

  Two adverse jury verdicts with no accrual; $1.2B in contingent milestone payments; $1.3B in guarantees.
  Notable

  • Contingent consideration liabilities doubled to $275M from $163M, driven by new acquisitions.
  • Up to $1.2B in milestone/royalty payments to Blackstone; $157M minimum royalty already recognized.
  • IRS audit on Puerto Rico income allocation for FY2005-2006 remanded to Tax Court; FY2017-2019 unresolved.
  • Aggregate outstanding under standby letters of credit, bank guarantees, and surety bonds was ~$1.3B.
  • MiniMed IPO completed; Medtronic still owns 90.03% and plans full separation within FY2027.
  • Post-quarter: $700M cash investment in Cornerstone Robotics for surgical robot distribution rights.
  Negative

  • Jury awarded $88M in hernia mesh trial; no liability recorded despite 10,500+ pending plaintiffs.
  • Jury awarded $382M in antitrust damages, automatically trebled to ~$1.15B; no liability recorded.

• Management's Discussion (Item 2)

  Full MD&A with segment results, cash flow, acquisitions, and a goodwill risk.
  Notable

  • U.S. Supreme Court ruled IEEPA tariffs unconstitutional Feb 2026; Medtronic is processing refunds, but trade risk remains.
  • Short-term borrowings increased by $812M in Q1 FY2027; commercial paper outstanding rose to $450M from $0.
  • Share repurchases: 3M shares at avg $81.56 in Q1 FY2027; $1.0B remaining under $5.0B March 2024 authorization.
  • MiniMed (Diabetes) completed IPO on March 9, 2026; Medtronic retains control and plans full separation this fiscal year.
  • Two acquisitions closed in Q1 FY2027: Scientia Vascular for $681M and SPR Therapeutics for $654M.
  Negative

  • Medical Surgical goodwill of $19.7B has only 12% fair-value cushion above carrying value as of Q3 FY2026.

• Legal Proceedings (Item 1)

  Cross-references Note 16 for loss contingencies; $1M environmental threshold set.
  Notable

  • Sets a $1M disclosure threshold for environmental proceedings, below which matters are deemed immaterial.
  • All legal proceedings and loss contingencies are described in Note 16 to the financial statements.

What changed: Jul 2026 vs. Jan 2026

About 21% of MDT's Jul 2026 10-Q is new information. 101 paragraphs were added, 265 changed, and 117 removed. Below are the most important lines SECSift identified.

• Item 1 160
• Item 2 132
• Item 6 14
• Item 5 5
• Item 3 5