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Medtronic to spin off diabetes unit and secure approximately 55 million shares of its own stock

The Motley Fool +1 · ·by G4L

MDT Medtronic Plc
$102.79 +0.97%
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MMED MMED +7.00%
  1. 1Medtronic is spinning off its diabetes unit, MiniMed.
  2. 2As a result of the MiniMed spin-off, Medtronic received approximately 55 million shares of its own stock.
  3. 3Medtronic recorded $9.8 billion in revenue in the first quarter of fiscal year 2027.

So what's the key point?

Medtronic separated its diabetes business into a different company. In exchange, it received 55 million shares of its own stock.

Source The Motley Fool +1 · View original ↗

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