Medtronic Reports FY 2025 Financial Results with Increased R&D Expenses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2026
0mins
Should l Buy MDT?
Source: seekingalpha
- Financial Performance: Medtronic reported a GAAP EPS of -$1.11 for FY 2025 with revenues of $33.48 million, indicating financial challenges that could negatively impact stock performance.
- R&D Expense Increase: Research and development expenses rose to $58.2 million in 2025 from $42.8 million in 2024, a 36% increase primarily driven by costs associated with the ongoing BACKBEAT global pivotal study and the Virtue SAB program, highlighting the company's commitment to innovation.
- SG&A Expense Rise: Selling, general, and administrative expenses increased to $26.9 million in 2025 from $23.9 million in 2024, a 12% rise mainly due to higher professional fees, reflecting operational management cost pressures.
- Acquisition Activity: Medtronic's acquisition of Scientia Vascular for $550 million demonstrates strategic intent to expand its business lines and market share, despite the underwhelming debut of its diabetes unit MiniMed in trading.
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Analyst Views on MDT
Wall Street analysts forecast MDT stock price to rise
20 Analyst Rating
11 Buy
9 Hold
0 Sell
Moderate Buy
Current: 79.370
Low
102.00
Averages
111.76
High
120.00
Current: 79.370
Low
102.00
Averages
111.76
High
120.00
About MDT
Medtronic Public Limited Company is an Ireland-based company, which provides healthcare technology solutions. The Company’s products category includes Advanced Surgical Technology; Cardiac Rhythm; Cardiovascular; Digestive & Gastrointestinal; Ear, Nose & Throat; General Surgery; Gynecological; Neurological; Oral & Maxillofacial; Patient Monitoring; Renal Care; Respiratory; Spinal & Orthopedic; Surgical Navigation & Imaging; Urological; Product Manuals; Product Ordering & Inquiries; and Product Performance & Advisories. Its products include Cardiac Implantable Electronic Device (CIED) Stabilization, Aortic Stent Graft Products, CareLink Personal Therapy Management Software, CareLink Pro Therapy Management Software. Its services and solutions include Ambulatory Surgery Center Resources, Care Management Services, Digital Connectivity Information Technology (IT) Support, Equipment Services and Support, Innovation Lab, Medtronic Healthcare Consulting, and Office-Based Sinus Surgery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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