Beta Bionics Wins FDA Clearance for Mint Patch Pump, Trims 2026 Revenue Outlook

Medtronic raised the lower end of its fiscal 2027 profit forecast and lifted its revenue growth outlook, citing strong demand for heart devices used in complex cardiovascular procedures. The Ireland-based company raised the lower end of its adjusted per-share profit forecast to $5.94 from $5.90 while keeping the upper end at $6.00, against an analyst average of $5.95, and now expects annual organic revenue growth of 7.25% to 7.75%, up from 6.75% to 7.25% previously. First-quarter fiscal 2027 revenue reached $9.756 billion, up 13.7% both reported and organically, beating the $9.55 billion analyst consensus, with adjusted earnings per share of $1.45 topping the $1.39 estimate. Growth was broad-based across segments, with Cardiovascular revenue up 19.5%, Diabetes up 16.9%, Neuroscience up 10.3%, and Medical Surgical up 10.0%, though Medtronic said about $570 million of the quarter's growth came from an extra week in the reporting period. The guidance still includes the diabetes business, which Medtronic has said it may fully separate before fiscal year-end, though CFO Thierry Pieton said the company is not under pressure to rush that timeline.

Beta Bionics' estimated fair value has been lifted to about US$21.67 from roughly US$19.80, a revision tied to Wall Street research reassessing the company's pipeline, its expected patch pump entry and the timing of its Type 2 diabetes and fully closed loop indications. Several firms, including Truist, UBS, Leerink and Goldman Sachs, have raised their price targets on the stock, with Truist and UBS pointing to FDA clearance of the Mint patch pump and updated launch timing as key execution milestones as Mint enters the patch pump segment as an alternative to Omnipod. UBS and BofA cited clearer timelines for the Type 2 diabetes and fully closed loop indications, while Truist pointed to survey work suggesting Beta Bionics is gaining share, with iLet screening well for pump naive patients entering the market. Not all research moved in the same direction: Baird and BofA kept Neutral ratings despite higher targets, William Blair initiated at Market Perform and flagged the stock's premium valuation versus Tandem Diabetes, and Ladenburg trimmed its target to US$30.40 from US$32. Behind the fair value change, the model's revenue growth input shifted to about 37.32% from about 35.78%, the net profit margin assumption moved to about 12.58% from about 11.76%, the future P/E assumption adjusted to about 33.33x from about 36.27x, and the discount rate rose to about 7.48% from about 7.38%.