Medtronic delivered another quarter of mid-single-digit revenue growth, underscored by strong contributions from high-growth franchises and continued margin leverage. The third quarter featured 4.1% organic revenue growth to $8.292 billion with improved gross margins (66.6%) and operating margins (26.2%), driving adjusted EPS of $1.39 (up 6.9% YoY). Management reiterated FY25 organic revenue growth guidance of 4.75-5% and high-single-digit EPS growth in the back half of the year, highlighting a robust earnings power trajectory enabled by product mix, pricing discipline, and efficiency programs. The narrative centers on stacking growth drivers (Cardiovascular CAS via Pulse Field Ablation, Evolut FX+, diabetes technology, neuromodulation) atop an already diversified base, with a multi-year path toward significant new market opportunities including renal denervation (RDN) and Hugo robotics. Management also signaled near-term operational headwinds (U.S. surgical distributor destocking) that are expected to normalize in Q1 FY2026, as well as FX headwinds that are anticipated to be meaningfully reduced in FY2026.