Medtronic (MDT) Delivers +8.4% Full-Year Revenue Growth in Fiscal 2026
Key Takeaways
- Medtronic reported Q4 revenue of $9.807 billion, up 9.9% as reported and 6.6% organically, exceeding implied guidance by 90 basis points.
- Full-year fiscal 2026 revenue reached $36.364 billion, up 8.4% as reported and 5.8% organically, marking the highest annual revenue growth in 10 years.
- Q4 non-GAAP diluted EPS was $1.55; full-year non-GAAP diluted EPS was $5.53.
- Strong performance in Cardiovascular and Diabetes portfolios drove results, with Cardiac Ablation Solutions revenue surging 78% globally.
- Company provided FY2027 guidance for 6.75% to 7.25% organic revenue growth and non-GAAP EPS of $5.90 to $6.00.
- Board approved a dividend increase to $0.72 per share for Q1 FY2027, the 49th consecutive annual increase.
Why These Results Stand Out
Medtronic’s fiscal year ends in late April, so the fourth-quarter and full-year numbers serve as an important checkpoint for the medical technology company. From what I see, investors pay close attention to these updates for clues on momentum in key areas like pulsed-field ablation and surgical robotics, as well as margin trends and cash flow. With steady healthcare demand and ongoing innovation helping the company gain share, the report offers a useful read on how well Medtronic is executing its strategy in a competitive environment.
The Reported Numbers
Medtronic posted fourth-quarter worldwide revenue of $9.807 billion, reflecting a 9.9% increase as reported and 6.6% growth on an organic basis. Non-GAAP diluted earnings per share came in at $1.55. For the full fiscal year 2026, revenue totaled $36.364 billion, up 8.4% as reported and 5.8% organically. GAAP diluted EPS for the year was $3.73, while non-GAAP diluted EPS reached $5.53. The company returned $4.2 billion to shareholders and generated $5.426 billion in free cash flow. Performance was led by strength in Cardiovascular, especially Cardiac Ablation Solutions, along with the Diabetes segment, supported by several tuck-in acquisitions that bolstered the pipeline. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Market Reaction
Shares of MDT moved higher right after the June 3, 2026, release, showing investor approval of the revenue beat and the forward guidance. Analysts pointed to the decade-high top-line growth and portfolio momentum as supportive of the current valuation, while keeping an eye on margin expansion and the integration of recent acquisitions. Sentiment ahead of the report had already been constructive following prior-quarter beats and pipeline updates.
Exploring AI Tools for Deeper Analysis
When I review earnings like these, I often turn to AI-driven tools to cross-check patterns and peer comparisons. Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. AI Screener
Looking Ahead to Fiscal 2027
Medtronic enters fiscal 2027 with momentum from its strongest annual revenue growth in a decade. Management guided for organic revenue growth of 6.75% to 7.25% and non-GAAP EPS in the $5.90 to $6.00 range. This outlook factors in the benefit of a 53rd week, full-year consolidation of the Diabetes business, and impacts from tariffs and foreign currency.
I’m watching execution on the main growth drivers, including Cardiac Ablation Solutions, Hugo robotic-assisted surgery, and Stealth AXiS navigation systems. Other points to monitor include the pace of tuck-in acquisitions such as CathWorks and the announced deals for Scientia Vascular and SPR Therapeutics, and how they contribute to revenue. Operating margins will stay in focus given recent pressures from tariffs and one-time items. Free cash flow conversion and capital allocation, including the increased dividend, will also be watched for signs of continued financial discipline. Pipeline milestones such as regulatory clearances and new product launches could serve as catalysts throughout the year.
Disclaimer
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Disclaimers and LimitationsContributor
Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
MDT in downward trend: 10-day moving average moved below 50-day moving average on October 01, 2026
The 10-day moving average for MDT crossed bearishly below the 50-day moving average on October 01, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In 11 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 69%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on September 18, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on MDT as a result. In 44 of 82 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 54%.
The Moving Average Convergence Divergence Histogram (MACD) for MDT turned negative on August 26, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In 20 of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at 45%.
MDT moved below its 50-day moving average on September 29, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDT declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 55%.
The Aroon Indicator for MDT entered a downward trend on October 02, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 8 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
The 50-day moving average for MDT moved above the 200-day moving average on September 17, 2026. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a +1.95% 3-day Advance, the price is estimated to grow further. Considering data from situations where MDT advanced for three days, in 170 of 316 cases, the price rose further within the following month. The odds of a continued upward trend are 54%.
MDT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of 4 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.279) is normal, around the industry mean (10.853). P/E Ratio (22.044) is within average values for comparable stocks, (98.910). Projected Growth (PEG Ratio) (1.608) is also within normal values, averaging (11.052). MDT's Dividend Yield (0.032) is considerably higher than the industry average of (0.002). P/S Ratio (3.176) is also within normal values, averaging (39.828).
The Tickeron Price Growth Rating for this company is 55 (best 1 - 100 worst), indicating steady price growth. MDT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 57 (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 68 (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MDT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 96, placing this stock worse than average.
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General Information
a provider of medical technology services
Industry MedicalNursingServices