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The company posted earnings per share (EPS) of $1.36 in the last reported quarter, which surpassed the Zacks Consensus Estimate by 2.26%. Medtronic beat earnings estimates in each of the trailing four quarters, the average beat being 2.76%.
Q4 Estimates for MDT
The Zacks Consensus Estimate for the company’s fourth-quarter revenues is pegged at $9.66 billion, which suggests 8.3% growth from the year-ago reported figure.
The Zacks Consensus Estimate for earnings is pinned at $1.56 per share, which implies a 3.7% decrease from the year-ago recorded actuals.
Estimate Revision Trend Ahead of MDT’s Q4 Earnings
Estimates for fiscal fourth-quarter earnings have dropped 2 cents to $1.56 per share in the past 30 days.
Here’s a brief glance at the company’s performance leading up to this announcement.
Factors Likely to Have Shaped MDT’s Q4 Performance
Cardiovascular
The segment is likely to have extended its momentum in the fiscal fourth quarter, building on its strongest growth in the last 10 years, excluding COVID-19 comps, in the previous quarter. Growth may have been driven by the Cardiac Ablation Solutions business, supported by strength in the pulsed field ablation (PFA) portfolio. Medtronic is also likely to have continued gaining share in the rapidly growing PFA market with its Affera mapping and ablation system with the Sphere-9 catheter. Sphere-9 may have seen broader adoption worldwide, with physicians using it across persistent and paroxysmal procedures globally.
Medtronic is likely to have begun commercializing its Sphere-360 single-shot all-in-one PFA and mapping catheter, following its CE Mark in January this year. All these factors are expected to have contributed to the quarter’s revenues.
Cardiac Rhythm Management has also likely delivered a strong performance, driven by growth in Micra leadless pacemakers, Aurora extravascular implantable cardioverter defibrillator (EV-ICD) system, SelectSure 3830 lead and continued Transvenous Tachy momentum.
Medtronic’s Structural Heart business may have reported a robust international performance. Meanwhile, growth in the Symplicity Spyral renal denervation system, guide catheters and balloons, as well as growth in Peripheral Vascular Health from endoVenous, is likely to have driven the Coronary & Peripheral Vascular sales growth.
During the quarter, Medtronic also completed the acquisition of CathWorks, significantly enhancing its interventional cardiology portfolio.
The Zacks Consensus Estimate implies Cardiovascular revenues will increase 10.8% year over year.
Neuroscience
Within this, the Cranial & Spinal Technologies business is likely to have remained a strong growth driver in the fiscal fourth quarter, driven by continued adoption of the AiBLE ecosystem of spine implants and enabling technologies. Core Spine has likely witnessed growth across both U.S. and global markets, alongside strength in Neurosurgery capital equipment.
During the quarter, Medtronic secured FDA approval for its Stealth AXiS surgical system for spine, cranial, and ear, nose and throat (ENT) procedures. This development is expected to have positively impacted the quarter’s revenues.
Specialty Therapies sales are also expected to have improved on the strength of ENT, following a flat performance in the fiscal third quarter. Performance in Neurovascular may have been supported by Onyx's expanded indication and the Neuroguard carotid stent launch.
Pelvic Health may have benefited from increased contribution from Altaviva despite a softer sacral nerve stimulation market backdrop. Meanwhile, Neuromodulation sales are expected to have been aided by the continued rollout of fully closed-loop technologies, Inceptiv SCS and BrainSense aBDS.
Going by the Zacks Consensus Estimate, Neuroscience revenues are expected to grow 6.1% year over year.
Medical Surgical (MedSurg)
In the fiscal fourth quarter, the MedSurg segment may have witnessed growth across most businesses. Surgical performance may have benefited from continued strength in LigaSure vessel sealing technology, ProGrip self-gripping polyester mesh, Wound Management, Electrosurgery and Surgical Robotics. In February 2026, Medtronic announced that the first U.S. commercial surgical case using its FDA-cleared Hugo robotic-assisted surgery (RAS) system was a potential long-term growth driver for this business.
Still, the full extent of growth in Surgical may have been partially offset by continued weakness in Advanced Stapling, reflecting pressures in the U.S. bariatric segment and ongoing shifts to robotic surgery.
Meanwhile, the Endoscopy business has likely delivered another strong quarter, driven by momentum in the esophageal portfolio, including Nexpowder and strong market adoption of Endoflip 300. Acute Care & Monitoring may have also contributed favorably, supported by demand for Nellcor pulse oximetry and McGRATH MAC video laryngoscope.
The Zacks Consensus Estimate for MedSurg’s revenues suggests a 2.1% year-over-year increase.
Diabetes
Medtronic’s diabetes business, MiniMed, began trading on the Nasdaq Global Select Market on March 6, 2026 under the ticker MMED. In the first quarter of 2026, the business is likely to have gained from continued international adoption of the MiniMed 780G automated insulin delivery system, including the Simplera Sync and Guardian 4 continuous glucose monitoring sensors and Extended Infusion Sets. U.S. performance may have been solid, too, following the late 2025 launches of the Simplera Sync and Abbott’s Instinct sensors.
During the fiscal fourth quarter, Medtronic commercially launched the MiniMed Go Smart MDI system with the Simplera sensor in Europe. In the United States, it also secured key milestones, including Medicare coverage for MiniMed 780G paired with the Instinct sensor, FDA clearance for the system's use with ultra-rapid-acting insulins and clearance of the MiniMed 780G system for use with the Instinct sensor for insulin-requiring type 2 diabetes. Together, these developments are expected to have strongly boosted the company’s overall revenues in the quarter.
The Zacks Consensus Estimate suggests Diabetes revenues will grow 11.5% year over year.
What Our Quantitative Model Predicts for MDT
Per our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates. This is not the case here, as you can see below:
Earnings ESP: Medtronic has an Earnings ESP of -1.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this time:
Labcorp (LH - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
LH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 3.31%. The Zacks Consensus Estimate for the company’s second-quarter EPS implies a rise of 10.1% from the year-ago reported figure.
Pediatrix Medical Group (MD - Free Report) has an Earnings ESP of +2.66% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
MD’s earnings topped estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 21.3%. The Zacks Consensus Estimate for the company’s second-quarter EPS calls for an increase of 7.6% from the year-ago quarter’s figure.
MacroGenics (MGNX - Free Report) has an Earnings ESP of +158.74% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
MGNX’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 51.38%. The Zacks Consensus Estimate for the company’s second-quarter loss per share suggests an improvement of 36.8% from the year-ago quarter figure.
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Broad-Based MedSurg Growth Likely to Aid MDT's Q4 Performance
Key Takeaways
Medtronic (MDT - Free Report) is set to release fourth-quarter fiscal 2026 results on June 3, before the market opens.
The company posted earnings per share (EPS) of $1.36 in the last reported quarter, which surpassed the Zacks Consensus Estimate by 2.26%. Medtronic beat earnings estimates in each of the trailing four quarters, the average beat being 2.76%.
Q4 Estimates for MDT
The Zacks Consensus Estimate for the company’s fourth-quarter revenues is pegged at $9.66 billion, which suggests 8.3% growth from the year-ago reported figure.
The Zacks Consensus Estimate for earnings is pinned at $1.56 per share, which implies a 3.7% decrease from the year-ago recorded actuals.
Estimate Revision Trend Ahead of MDT’s Q4 Earnings
Estimates for fiscal fourth-quarter earnings have dropped 2 cents to $1.56 per share in the past 30 days.
Here’s a brief glance at the company’s performance leading up to this announcement.
Factors Likely to Have Shaped MDT’s Q4 Performance
Cardiovascular
The segment is likely to have extended its momentum in the fiscal fourth quarter, building on its strongest growth in the last 10 years, excluding COVID-19 comps, in the previous quarter. Growth may have been driven by the Cardiac Ablation Solutions business, supported by strength in the pulsed field ablation (PFA) portfolio. Medtronic is also likely to have continued gaining share in the rapidly growing PFA market with its Affera mapping and ablation system with the Sphere-9 catheter. Sphere-9 may have seen broader adoption worldwide, with physicians using it across persistent and paroxysmal procedures globally.
Medtronic is likely to have begun commercializing its Sphere-360 single-shot all-in-one PFA and mapping catheter, following its CE Mark in January this year. All these factors are expected to have contributed to the quarter’s revenues.
Medtronic PLC Price and EPS Surprise
Medtronic PLC price-eps-surprise | Medtronic PLC Quote
Cardiac Rhythm Management has also likely delivered a strong performance, driven by growth in Micra leadless pacemakers, Aurora extravascular implantable cardioverter defibrillator (EV-ICD) system, SelectSure 3830 lead and continued Transvenous Tachy momentum.
Medtronic’s Structural Heart business may have reported a robust international performance. Meanwhile, growth in the Symplicity Spyral renal denervation system, guide catheters and balloons, as well as growth in Peripheral Vascular Health from endoVenous, is likely to have driven the Coronary & Peripheral Vascular sales growth.
During the quarter, Medtronic also completed the acquisition of CathWorks, significantly enhancing its interventional cardiology portfolio.
The Zacks Consensus Estimate implies Cardiovascular revenues will increase 10.8% year over year.
Neuroscience
Within this, the Cranial & Spinal Technologies business is likely to have remained a strong growth driver in the fiscal fourth quarter, driven by continued adoption of the AiBLE ecosystem of spine implants and enabling technologies. Core Spine has likely witnessed growth across both U.S. and global markets, alongside strength in Neurosurgery capital equipment.
During the quarter, Medtronic secured FDA approval for its Stealth AXiS surgical system for spine, cranial, and ear, nose and throat (ENT) procedures. This development is expected to have positively impacted the quarter’s revenues.
Specialty Therapies sales are also expected to have improved on the strength of ENT, following a flat performance in the fiscal third quarter. Performance in Neurovascular may have been supported by Onyx's expanded indication and the Neuroguard carotid stent launch.
Pelvic Health may have benefited from increased contribution from Altaviva despite a softer sacral nerve stimulation market backdrop. Meanwhile, Neuromodulation sales are expected to have been aided by the continued rollout of fully closed-loop technologies, Inceptiv SCS and BrainSense aBDS.
Going by the Zacks Consensus Estimate, Neuroscience revenues are expected to grow 6.1% year over year.
Medical Surgical (MedSurg)
In the fiscal fourth quarter, the MedSurg segment may have witnessed growth across most businesses. Surgical performance may have benefited from continued strength in LigaSure vessel sealing technology, ProGrip self-gripping polyester mesh, Wound Management, Electrosurgery and Surgical Robotics. In February 2026, Medtronic announced that the first U.S. commercial surgical case using its FDA-cleared Hugo robotic-assisted surgery (RAS) system was a potential long-term growth driver for this business.
Still, the full extent of growth in Surgical may have been partially offset by continued weakness in Advanced Stapling, reflecting pressures in the U.S. bariatric segment and ongoing shifts to robotic surgery.
Meanwhile, the Endoscopy business has likely delivered another strong quarter, driven by momentum in the esophageal portfolio, including Nexpowder and strong market adoption of Endoflip 300. Acute Care & Monitoring may have also contributed favorably, supported by demand for Nellcor pulse oximetry and McGRATH MAC video laryngoscope.
The Zacks Consensus Estimate for MedSurg’s revenues suggests a 2.1% year-over-year increase.
Diabetes
Medtronic’s diabetes business, MiniMed, began trading on the Nasdaq Global Select Market on March 6, 2026 under the ticker MMED. In the first quarter of 2026, the business is likely to have gained from continued international adoption of the MiniMed 780G automated insulin delivery system, including the Simplera Sync and Guardian 4 continuous glucose monitoring sensors and Extended Infusion Sets. U.S. performance may have been solid, too, following the late 2025 launches of the Simplera Sync and Abbott’s Instinct sensors.
During the fiscal fourth quarter, Medtronic commercially launched the MiniMed Go Smart MDI system with the Simplera sensor in Europe. In the United States, it also secured key milestones, including Medicare coverage for MiniMed 780G paired with the Instinct sensor, FDA clearance for the system's use with ultra-rapid-acting insulins and clearance of the MiniMed 780G system for use with the Instinct sensor for insulin-requiring type 2 diabetes. Together, these developments are expected to have strongly boosted the company’s overall revenues in the quarter.
The Zacks Consensus Estimate suggests Diabetes revenues will grow 11.5% year over year.
What Our Quantitative Model Predicts for MDT
Per our proven model, stocks with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), along with a positive Earnings ESP, have a higher chance of beating estimates. This is not the case here, as you can see below:
Earnings ESP: Medtronic has an Earnings ESP of -1.03%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Worth a Look
Here are some medical stocks worth considering, as these have the right combination of elements to post an earnings beat this time:
Labcorp (LH - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
LH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 3.31%. The Zacks Consensus Estimate for the company’s second-quarter EPS implies a rise of 10.1% from the year-ago reported figure.
Pediatrix Medical Group (MD - Free Report) has an Earnings ESP of +2.66% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
MD’s earnings topped estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 21.3%. The Zacks Consensus Estimate for the company’s second-quarter EPS calls for an increase of 7.6% from the year-ago quarter’s figure.
MacroGenics (MGNX - Free Report) has an Earnings ESP of +158.74% and a Zacks Rank #2. The company is expected to release second-quarter 2026 results soon.
MGNX’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 51.38%. The Zacks Consensus Estimate for the company’s second-quarter loss per share suggests an improvement of 36.8% from the year-ago quarter figure.