Medtronic falls as co to separate diabetes business

Shares of medical device maker Medtronic MDT.N down 2.1% at $84.55 premarket

MDT says it plans to separate its diabetes business into a standalone company within 18 months

The new company, led by the head of Medtronic's diabetes division, will have around 8,000 employees

*The separation was first reported by the Wall Street Journal

Separately, co posts Q4 adj profit of $1.62 per share, beating analysts' estimates of $1.58 per share - data compiled by LSEG

But Medtronic forecast its fiscal 2026 adj earnings per share in the range of $5.50 to $5.60, below Wall Street estimates of $5.83

It expects a tariff hit of about $200 to $350 million in 2026 on its cost of goods sold, after mitigation efforts

As of last close, stock up 8.12% YTD