Medtronic (NYSE:MDT) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Posted by Francis Steltz on Jun 4th, 2026

Medtronic (NYSE:MDT – Get Free Report) issued its quarterly earnings results on Wednesday. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01, FiscalAI reports. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Medtronic’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic updated its FY 2027 guidance to 5.900-6.000 EPS.

Here are the key takeaways from Medtronic’s conference call:

Medtronic reported a strong fiscal 2026 finish, with Q4 revenue of $9.8 billion (+9.9% reported, +6.6% organic) and full-year revenue of $36.4 billion (+8.4% reported, +5.8% organic), the company’s best top-line performance in 10 years. Adjusted EPS also came in ahead of expectations at $1.55 in Q4 and $5.53 for the full year.
Cardiac Ablation Solutions remained a standout growth engine, with 78% worldwide growth and continued rapid adoption of PFA/Affera, including a 40% sequential increase in the U.S. installed base. Management said the business is still early in its ramp and is on track to reach a $2 billion annualized revenue run rate in Q1 FY2027.
Symplicity is gaining traction in hypertension treatment, with physician access expanding, prior authorization approvals improving, and weekly procedure volumes doubling since reimbursement coverage changed. Medtronic said the franchise is now annualizing at $100 million and highlighted long-term clinical data supporting its differentiated position.
The company’s outlook for fiscal 2027 organic revenue growth is 6.75%–7.25%, supported by ongoing momentum in cardiovascular, neuroscience, MedSurg, and MiniMed, plus an extra selling week in Q1. Management also signaled continued investment in M&A and commercialization while expecting tariffs and mix to pressure margins.
Medtronic continues to reshape the portfolio, completing the MiniMed IPO and announcing/investing in several tuck-in deals, including CathWorks, Scientia, SPR Therapeutics, Beluga Medical, CardioACC, and others. The company said these moves are meant to strengthen leadership positions and expand exposure to faster-growing adjacencies over time.

Medtronic Price Performance

Shares of NYSE MDT opened at $78.09 on Thursday. The stock has a market capitalization of $100.25 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.76 and a beta of 0.58. Medtronic has a 12 month low of $73.31 and a 12 month high of $106.33. The firm’s 50 day simple moving average is $81.67 and its 200-day simple moving average is $92.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, June 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is 79.11%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDT. Stifel Nicolaus set a $80.00 price target on shares of Medtronic in a report on Wednesday. The Goldman Sachs Group set a $84.00 price target on shares of Medtronic and gave the stock a “neutral” rating in a report on Thursday, May 21st. Mizuho cut their price target on shares of Medtronic from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Sixteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $102.76.

View Our Latest Research Report on MDT

Institutional Investors Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new position in shares of Medtronic during the 4th quarter valued at approximately $29,000. Imprint Wealth LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $31,000. JPL Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at approximately $40,000. Chapman Financial Group LLC purchased a new position in shares of Medtronic during the 2nd quarter valued at approximately $37,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Medtronic by 96.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 454 shares of the medical technology company’s stock valued at $44,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

Positive Sentiment: Medtronic topped Q4 expectations with revenue of $9.81 billion and adjusted EPS of $1.55, supported by strong demand in cardiovascular devices and standout growth in Cardiac Ablation Solutions, which jumped 78% globally. Article Title
Positive Sentiment: Management said FY2026 delivered Medtronic’s strongest annual revenue growth in 10 years, while FY2027 guidance calls for 6.75% to 7.25% organic revenue growth and EPS of $5.90 to $6.00, reinforcing the company’s growth outlook. Article Title
Positive Sentiment: Medtronic also raised its quarterly dividend to $0.72 per share, a signal of confidence in cash flow and shareholder returns. Article Title
Positive Sentiment: The company highlighted momentum in its Hugo robotic surgery platform and new strategic investments in cardiac ablation technologies, which could support longer-term growth and product expansion. Article Title
Neutral Sentiment: Wall Street reacted positively even though some investors remain focused on tariff pressures, margin headwinds, and FY2027 EPS guidance that came in slightly below the consensus estimate. Article Title

About Medtronic

(Get Free Report)

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).