Medtronic disclosed its second quarter results for the fiscal year 2026, reporting on Tuesday an increase in revenue and sales.

The company announced $9 billion in revenue, with a 5.5% year-over-year increase in organic revenue. Growth in the cardiovascular division’s revenue in particular—$3.4 billion, a 9.3% increase—was its best in over a decade. Subsequently, Medtronic’s stock price went up by nearly 5%. 

“We delivered a strong second quarter, with both revenue and EPS beating expectations. Overall, procedure volumes and our end markets are robust, and we’re executing well across the business,” Geoff Martha, Medtronic chairman and CEO, said in a press release.  

In a Tuesday interview with CNBC, Martha said the return to form came from key growth drivers, including its atrial fibrillation and robotic assisted surgery businesses. 

On the treatment for atrial fibrillation: “There’s been a technology shift in the market, moving to this new technology called pulse field ablation (PFA),” said Martha. “It’s safer for patients. It’s faster for the health care workers.” The company’s PFA portfolio grew 71%, according to Martha. 

Martha called robotic assisted surgery a notable “macro trend in health care” when it comes to soft-tissue and orthopedics care. Medtronic leads in the latter, Martha said, which in particular has “bolstered [the company’s] market share and growth.”  

“We intend to do the same thing in soft tissue robotics,” Martha said. Medtronic’s competitor, Intuitive, is the top dog in robotic assisted soft tissue surgery, per Martha, and he said, “Our intention in the short term is to be a meaningful No. 2 play in the U.S.” 

Other businesses that Martha saw contributing to the company’s anticipated success were minimally invasive treatment technologies for hypertension (Symplicity) and for urinary incontinence (Altaviva). 

In August, Elliott Management became one of the major shareholders at Medtronic, which Martha also addressed in his interview. “They [Elliott] came into the stock with the thesis that we were in a great moment in the company’s history, and there was an opportunity to capitalize on it with these new growth drivers,” he said. “They’ve been a good partner.”