Medtronic Just Retired 55 Million Shares Without Spending Cash. Is the Stock a Buy?

Medtronic completed a spinoff of its diabetes segment (MiniMed) and retired 55 million shares without cash expenditure, which will boost future EPS. The company reported strong Q1 FY2027 results with 14% revenue growth and is approaching Dividend King status (49 consecutive years of increases). Despite operational improvements and a reinvigorated pipeline with 50+ FDA approvals, Medtronic trades at a discount to medtech peers.