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The themes Medtronic is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
The theme it is part of
Highest-graded in Medical Devices
Graded A or B and worth $2B or more: A first, then the largest.
SYKStryker Corp.$118.9BA+
EWEdwards Lifesciences Corporation$60.9BA+
GEHCGE Healthcare Technologies Inc.$37BA
GKOSGlaukos Corp$14.6BA
PENPenumbra, Inc$12.6BA
Grade rose recently in Healthcare
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
DHRDanaher CorporationOct 21, 2026CBGraded C, now B
MCKMckesson CorporationNov 4, 2026BAGraded B, now A
CVSCVS Health CorpNov 4, 2026BAGraded B, now A- EWEdwards Lifesciences CorporationNov 4, 2026BAGraded B, now A
BIIBBiogen Inc.Oct 28, 2026BAGraded B, now A
How it makes money
- Cardiovascular devices and services40%
- Neuroscience devices and therapies27%
- Medical Surgical products23%
- Diabetes products9%
Shares of revenue are estimates for three months ended July 31, 2026, not figures from a filing.
Competes with
What it sells6
Heart rhythm and ablation devices
Pacemakers, defibrillators, heart-monitoring devices, and catheters used to treat or monitor irregular heart rhythms. Named products include Micra pacemakers, Reveal LINQ monitors, PulseSelect catheters, and the Affera mapping and ablation system.
Heart valve and vascular products
Evolut devices replace a narrowed aortic valve through a catheter procedure. Medtronic also sells surgical heart valves, stent grafts for aortic disease, coronary stents, and balloons used in blood-vessel procedures.
Spine and neurosurgery products
Spine implants treat conditions such as spinal deformity and damaged discs. StealthStation provides navigation during surgery, O-arm provides operating-room imaging, and Mazor systems guide robotic-assisted spine procedures.
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Neurological stimulation and stroke devices
InterStim devices stimulate nerves to treat bladder and bowel conditions; Inceptiv and Percept devices provide spinal or brain stimulation for certain conditions. Pipeline devices treat some brain aneurysms, and Solitaire devices are used in procedures for certain strokes.
Surgical and endoscopy products
Endo GIA staplers and LigaSure instruments are used during surgery; Hugo assists surgeons in certain procedures. PillCam cameras are swallowed to capture images inside the digestive tract, and GI Genius helps examine colonoscopy images.
Patient monitoring and airway products
Nellcor monitors measure blood oxygen, McGRATH MAC devices help clinicians place breathing tubes, and Shiley tubes help maintain a patient’s airway.
Who buys it4
- Hospitals and health systems buy devices and supplies, often through purchasing contracts negotiated for groups of facilities.
- Surgeons, cardiologists, neurologists, and other clinicians use or prescribe Medtronic products during procedures and patient care.
- Ambulatory surgery centers, physician offices, and other care facilities buy products for procedures and patient monitoring.
- Medtronic sells through its own sales representatives and through independent distributors and agents; some products are stocked on consignment at hospitals.
What it stands on, and what could break it
What the business leans on
- 1Some manufacturing components and raw materials come from sole suppliers; regulatory requirements can make it difficult to qualify replacement sources quickly.
- 2Product sales depend on regulatory approvals and continued compliance with rules for device design, manufacturing, labeling, and safety monitoring.
- 3Demand and prices can depend on insurance coverage, government reimbursement, and hospital purchasing contracts, including volume-based tenders in China.
- 4Medtronic relies on physicians and other healthcare professionals to use its products and to adopt new procedures and devices.
- 5The Diabetes Business separation and transition arrangements may affect which sales, employees, and operations remain with Medtronic.
What could go wrong
- 1A product quality problem can lead to recalls or safety alerts, claims, and changes in clinician purchasing or use. The quarterly report also described a Pipeline Vantage recall that partly offset growth in the neurovascular business.
- 2Regulatory reviews can delay product approvals or restrict sales, while changes to coverage and reimbursement can reduce demand or the prices customers will pay.
- 3An interruption in the supply of a sole-source component or other manufacturing difficulty could limit production, and approved replacement suppliers may take time to establish.
About Medtronic plc
Medtronic designs, makes, and sells medical devices and related services to healthcare systems, clinicians, and patients in more than 150 countries. Its products include implanted heart devices, surgical tools, spine implants, equipment for monitoring patients, and therapies that use electrical stimulation to treat certain conditions. Its Diabetes Business became a separately listed company, MiniMed, through an initial public offering in March 2026, but its sales were still included in Medtronic’s July 2026 quarterly results.
- Head office
- Galway, Ireland
- Founded
- 1949
- Employees
- over 95,000 (FY2026, high)
- Listed on
- NYSE
- Financial year ends
- April (FY2026 ended April 24)
Built from Medtronic plc’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.