Medtronic Reports Strong Growth Ahead of Dividend King Status
Medtronic reported its strongest revenue growth in a decade for fiscal 2026 as it nears a 50-year streak of consecutive dividend increases.
Medtronic is on track to achieve Dividend King status next year after raising its dividend for 49 consecutive years. The medical device manufacturer reported its strongest top-line growth in a decade for fiscal 2026, with revenue increasing 8.4%.
This growth was primarily driven by the cardiovascular business, which saw organic growth of 9.3%. The performance comes despite a 31% decline in stock value over the last five years, a trend attributed to inflation, supply chain constraints, and competition from GLP-1 drugs.
To improve efficiency, the company restructured lower-margin businesses and completed the spin-off of its diabetes unit, MiniMed, in March 2026. Medtronic projects organic revenue growth between 7.25% and 7.75% for fiscal 2027.
