In other recent news, Medtronic announced its plan to spin off its diabetes business into a separate entity named MiniMed, aiming to complete the separation within 18 months. The diabetes division contributes about 8% to Medtronic's total revenue, and the spin-off is expected to streamline operations. Analysts from Needham have maintained a Hold rating on Medtronic's stock, suggesting that while the separation may not immediately unlock significant value, it could enhance shareholder value over time. Truist Securities also maintained a Hold rating but increased their price target to $92, citing Medtronic's better-than-expected organic revenue growth. They noted that the planned spin-off could lead to improved margins and earnings per share growth in the future.