Medtronic shareholders have until the close of business today to decide whether to tender their shares into the company’s MiniMed split-off, a transaction that has been running alongside a steady stream of regulatory clearances and clinical data releases from the medtech giant.
The final exchange ratio for the separation of the MiniMed Group was set at 4.5939 MiniMed shares for every Medtronic share accepted, with the offer covering up to 225,361,295 MiniMed shares. Should the offer be oversubscribed, an additional 27,452,053 shares could be brought into the deal. The exchange ratio was confirmed on October 7, with the offer period scheduled to expire at the end of October 9.
FDA Clears Navigated Sinus Blades
On the regulatory front, the US Food and Drug Administration granted 510(k) clearance for Medtronic’s navigated ApexCut EM blades intended for sinus procedures. The instruments are designed to work in tandem with the company’s Stealth AXiS ENT navigation platform, giving surgeons added support during complex ear, nose and throat interventions.
First clinical use of the technology in the United States is expected later in 2026, following planned software updates to the navigation system. The clearance adds to a broader wave of product approvals — Medtronic pointed to more than 315 product authorizations across key markets in its fiscal 2026 report, alongside research and development spending of $2.9 billion. The company said its devices reached over 82 million patients worldwide.
Should investors sell immediately? Or is it worth buying Medtronic?
Urology and Vascular Data Build the Case
Clinical momentum has been building on several fronts. Results from the exploratory TITAN-2 study, released Tuesday, showed a sustained reduction in nocturia episodes over 24 months in patients treated with the Altaviva system, which aims to curb the frequency of nighttime urination urges.
To deepen the evidence base, Medtronic named Ariana L. Smith as national principal investigator for the upcoming ENDURANCE post-approval study. At the same time, the company established an awareness partnership with the American Urogynecologic Society to promote understanding of the treatment approach among specialists.
In vascular care, Medtronic reported 24-month results from the VenaSeal Spectrum study on October 3, with the system achieving an 88.1% healing rate in the treatment of venous ulcers. Reimbursement coverage for the procedure now extends to 96% of Americans insured through commercial payers and Medicare, according to the company.
Billing Codes Set for 2028
The American Medical Association approved new Category I CPT billing codes on October 1 for Altaviva and the Symplicity Spyral renal denervation system, effective January 2028. The codes mark a step toward long-term reimbursement certainty for both therapies.
Analyst Views Diverge
Against that operational backdrop, Wall Street has been recalibrating its view of the stock, which carries a market capitalization of EUR 97.59 billion. TD Cowen reaffirmed its Buy rating on September 30 and kept its price target at $110, according to media reports. Barclays initiated coverage on Wednesday with an Equal Weight rating and a $95 price target.
The shares rose 2.2% to close at EUR 78.24 on European trading venues, with market observers attributing the buying interest to prospects for a simplified corporate portfolio as the MiniMed separation nears its conclusion.
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Medtronic Stock: New Analysis – 9 October
Fresh Medtronic information released. What’s the impact for investors? Our latest independent report examines recent figures and market trends.
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