How’s Medtronic doing after Elliott group

After Elliott Investment Management became one of its largest shareholders, Medtronic has taken several steps to enhance its board structure and strategic direction: 1. **Board Expansion and Committee Formation**: Medtronic has added two new directors to its board, John Groetelaars and Bill Jellison, who will be immediately effective. These new directors will be part of two special committees focused on investment opportunities and earnings growth, respectively. 2. **Full-Year Profit Forecast Increase**: The company has raised its full-year profit forecast for fiscal 2026, indicating confidence in its financial performance going forward. 3. **Tariff Impact Reduction**: Medtronic has reduced its expected hit from U.S. President Donald Trump's tariffs to about $185 million, down from the previously anticipated $200 million to $350 million. 4. **Investor Engagement and Valuation Focus**: Elliott's investment was driven by a belief in Medtronic's potential for value creation through growth and operational improvement. Medtronic is focusing on core assets and is set to host an investor day event in mid-2026 to detail the progress of these new committees. Overall, Medtronic's actions reflect a strategic shift towards enhancing shareholder value and improving operational efficiency, which are likely to be positive for the company's future performance.