Medtronic Diabetes reaffirmed its fiscal 2027 underlying organic growth target of 9% to 9.5%, excluding an extra week, and a 16% adjusted EBITDA margin target during a presentation at the Wells Fargo 21st Annual Healthcare Conference on September 8, 2026. Keith Speyer, chief executive of Medtronic Diabetes, said the company's product pipeline is positioned to support growth across insulin pumps, continuous glucose monitoring and closed-loop therapy.
For the first quarter, Medtronic Diabetes reported underlying growth in the high single digits, excluding the extra week. U.S. new pump unit sales rose more than 20% in the quarter, while the continuous glucose monitoring attachment rate reached 69%. Gross profit margin was 57%, and earnings before interest, taxes, depreciation and amortization totaled $280 million over the last twelve months. InvestingPro assigned the business a financial health score of 3.1 out of 5, labeled GREAT. Type 2 diabetes patients accounted for 40% of new U.S. patient starts.
The product roadmap centers on MiniMed Fit, a patch pump for which the FDA approval filing has been completed. The company plans to launch the product in summer 2027 and has capacity for 20,000 patients at launch. MiniMed Fit offers up to seven days of wear time, compared with competitors' typical four to five days, a 300-unit reservoir that is about 50% larger than competing products, SmartGuard automation and closed-loop control, and is designed to launch through the pharmacy channel.
Vivera, a fully closed-loop algorithm designed to remove meal bolusing, meal announcements and carb counting, is in a fully enrolled trial. The company expects a launch in the second half of calendar 2027, with trial data potentially presented at ATTD in early 2027 or ADA in June 2027. A pivotal trial for an extended-wear CGM sensor is expected to begin in October and run for about 18 months, pointing to a potential 2028 launch window. Flex is scheduled for an international launch in November, with pharmacy availability targeted for calendar 2027. Libre Duo integration is also planned for calendar 2027 to bring ketone data into the MiniMed app.
On the CGM side, Simplera offers 14-day wear and optional calibration while maintaining the existing form factor, allowing the company to use current manufacturing lines. Instinct offers 15-day wear, no calibration and ICGM certification. The 780G system is covered through major pharmacy benefit managers Ascent, MSR and Zinc, which together cover about 70% of covered lives, with patient co-pays generally ranging from $50 to $100. Medtronic Diabetes also cited an approximately 15 million-patient market for multiple daily injection therapy that does not currently have access to technology.
In the first half of fiscal 2026, the U.S. business was flat before moving to low-to-mid single-digit growth following a CGM launch in December. The next opportunity to change C-peptide guidance is in calendar 2027, after the current guidance window has passed. Medtronic Diabetes said its strategy is to offer a portfolio that addresses different patient needs and engagement levels, rather than competing primarily on features or price.
