Medtronic PLC (MDT), a leading medical device company, saw its stock plunge 5.18% in pre-market trading on Tuesday, following the release of its fiscal third-quarter 2025 earnings results.
The company reported revenue of $8.292 billion for the quarter ended January 24, 2025, slightly missing analyst estimates of $8.324 billion. The GAAP diluted earnings per share (EPS) came in at $1.01, lower than the expected $1.07. Although Medtronic reported non-GAAP diluted EPS of $1.39, beating estimates of $1.36, the overall results fell short of market expectations.
According to the earnings report, Medtronic faced challenges in its Medical Surgical Portfolio, which saw a 1.9% revenue decline attributed to pressures in the stapling segment and changes in distributor buying patterns. However, the company's Cardiovascular, Neuroscience, and Diabetes portfolios showed growth, with the Diabetes segment reporting an impressive 8.4% revenue increase driven by the adoption of the MiniMed™ 780G system.