Medtronic reports MiniMed exchange results for Medtronic stock

Published on 10/14/2026 at 10:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The offer drew 298,024,452 tenders on October 12, 2026. Medtronic stock costs EUR 82.77 on October 14, 2026, while 55,032,401 shares are accepted.

MiniMed exchange sets the agenda

Medtronic received 298,024,452 valid tenders on October 12, 2026.
The company plans to accept 55,032,401 shares for 252,813,348 MiniMed shares.
Medtronic stock traded at EUR 82.77 at 10:39 a.m. CEST at Lang & Schwarz on October 14, 2026.
BTIG cut its target from USD 100.00 to USD 99.00 on October 12, 2026.

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Medtronic plc (ISIN IE00BTN1Y115) reported on October 12, 2026, that its MiniMed exchange offer was oversubscribed, with 298,024,452 Medtronic ordinary shares validly tendered, according to Medtronic. The company intends to accept 55,032,401 shares in exchange for 252,813,348 MiniMed shares.

Three steps led to the offer

On September 14, 2026, Medtronic launched the exchange offer for at least 80.1 percent of MiniMed shares, according to FinanzNachrichten. On October 7, 2026, it set the exchange ratio at 4.5939 MiniMed shares for each accepted Medtronic share, as reported in the company's release. On October 12, 2026, the preliminary results showed 298,024,452 valid tenders and a planned acceptance of 55,032,401 shares, making the latest step the decisive one for holders.

What does the exchange mean?

The preliminary proration estimate was 18.30 percent, meaning that fewer than one in five tendered Medtronic shares was expected to be accepted if guaranteed-delivery shares were delivered. Medtronic will receive all 252,813,348 MiniMed shares and will retain no MiniMed stake after completion, according to Medtronic. The structure therefore turns the exchange into a portfolio-separation event rather than a simple tender offer.

Analyst target moves lower

BTIG lowered its Medtronic price target from USD 100.00 to USD 99.00 on October 12, 2026, while retaining a Buy rating, according to Markets Insider. The target change gives investors a counterpoint to the corporate simplification story: the transaction is advancing, but near-term medical-device expectations remain a separate valuation driver.

Two dates now matter

Medtronic expected to announce the final proration factor on October 14, 2026, promptly after the guaranteed-delivery period, according to Medtronic. The next earnings report was scheduled for November 17, 2026, before the market opens, according to Gekko.

Stock price and investor context

Medtronic's latest reported first-quarter fiscal 2027 revenue was USD 9.756 billion, while adjusted earnings per share reached USD 1.45 against a USD 1.39 consensus estimate, according to Yahoo Finance. The exchange offer is thus arriving after a quantified operating update, while the final allocation figure remains the immediate event for shareholders.

Medtronic stock was trading at EUR 82.77 at Lang & Schwarz on October 14, 2026 at 10:39 a.m. CEST. The company also trades on the NYSE under MDT, and the latest structured quote showed a market capitalization of USD 119.1 billion and a 52-week range of USD 73.31 to USD 106.33.

The further course of trading is shown by the continuously updated real-time quote of Medtronic stock.