Medtronic Lowers Earnings Forecast Following MiniMed IPO

Medtronic has lowered its FY26 earnings forecast after its diabetes spinoff, MiniMed, went public. The revised outlook includes a charge for future payments to private equity firm Blackstone, which funded development of MiniMed's new insulin pump. Medtronic now expects adjusted EPS of $5.50 to $5.54, a decrease of 12 cents from its previous forecast. The company expects dilution of one to two cents per month between the IPO and split.