NEW YORK, May 30, 2026, 12:02 (EDT)
- Medtronic closed out Friday at $73.81, off 2.33%. The drop extended the stock’s losing streak to four sessions.
- The NYSE is closed this weekend after a shorter week due to the Memorial Day holiday on May 25.
- Medtronic will report fourth-quarter and full-year fiscal 2026 earnings before the market opens June 3.
Medtronic plc starts the week under pressure after dropping for four straight sessions and finishing Friday at $73.81, with volume well above average. The move came even as the S&P 500 added 0.22%. Investors are now looking to the company’s next comments and less to what the wider market is doing.
Timing is a factor. U.S. markets are closed for the weekend, and last week had one less trading day since the NYSE was closed for Memorial Day on Monday, May 25. There are just two full trading days before Medtronic posts its fiscal Q4 and full-year numbers on Wednesday.
Medtronic shares fell about 6.1% in the holiday-shortened week, dropping from $78.60 at the May 22 close to $73.81 on May 29. The stock saw about 22.2 million shares traded Friday, more than twice the 50-day average, showing it wasn’t just a light volume move.
Options traders expect bigger swings. An options-implied move showed markets are pricing in a 4.1% shift for the June 3 earnings release, options data from Bloomberg showed, according to Investing.com.
Wall Street consensus for the quarter is $1.54 a share on $9.62 billion in revenue, according to MarketBeat. The company is set to report before the open with the call later in the morning.
Can growth in heart devices and diabetes pick up the slack? Medtronic posted $9.017 billion in third-quarter revenue in February, up 8.7% on a reported basis and 6.0% organically, which strips out currency and portfolio changes. CEO Geoff Martha called it proof of the “strength of our portfolio.” Medtronic News
But the gains didn’t last. Bernstein analyst Christian Moore told Reuters the reaffirmed full-year outlook meant fourth-quarter growth would slow. CFO Thierry Piéton also told Reuters that added tax costs would cap some profit upside.
Medtech stocks didn’t get much help from the tape. Abbott Laboratories dropped 0.81% Friday, Stryker lost 0.83%, and Boston Scientific fell 1.63%. Boston Scientific remains under pressure from worries about slowing Watchman growth, a sign investors are quick to cut medtech if growth looks shaky.
Medtronic is looking for growth with new deals. The company said on May 20 that it will buy SPR Therapeutics, a private firm, for around $650 million in cash. The deal adds a 60-day peripheral nerve stimulation system to Medtronic’s line-up. The device sends electrical pulses to nerves for pain treatment, without a permanent implant.
Medtronic’s Neuromodulation interim president Domenico De Paolis said the SPR buy would “broaden access to neuromodulation.” Medtronic expects the deal to close in the first half of fiscal 2027, pending regulatory ok. Medtronic News
Wednesday’s report could just back up what the stock is showing: earnings growth is slowing down in the near term, even though some portfolio areas are seeing steady demand. Tariffs, tax charges, integration costs, or softer news around cardiac ablation — those are the devices for irregular heart rhythm — might keep the shares under pressure, even if revenue matches estimates.
Market pressure is testing analyst bets on the stock. Benzinga put the average price target at $106.10 from 23 analysts, and UBS’s most recent rating is neutral. With shares below those target levels after Friday’s close, the focus could shift to the company’s outlook over the quarter.
