NEW YORK, June 6, 2026, 16:06 (EDT)
Medtronic plc opened the week with gains from its earnings move still holding, though some shine has faded. Shares ended Friday at $81.67, slipping 0.32%. The stock hit an intraday low at $81.12 on the NYSE.
Medtronic’s rare growth boost lifts shares, but outlook flags
Medtronic (MDT) shares jumped close to 5% Wednesday after the company topped Wall Street forecasts, Reuters reported, crediting strong demand for heart devices used in complex cardiac cases. But Medtronic also warned of a $250 million tariff hit coming in fiscal 2027 and put out adjusted earnings guidance that missed LSEG’s consensus. RBC Capital’s Shagun Singh said she was “encouraged by Medtronic’s growth initiatives,” though she called the company’s renal denervation business “underappreciated.” Reuters
Medtronic posted fourth-quarter revenue of $9.807 billion, rising 9.9% as reported, or 6.6% on an organic basis, which leaves out currency and some asset sales. The company boosted its quarterly dividend to 72 cents a share. Medtronic is targeting organic revenue growth of 6.75% to 7.25% for fiscal 2027, and forecast non-GAAP diluted EPS between $5.90 and $6.00. CEO Geoff Martha said this was the company’s best annual top-line growth in a decade. CFO Thierry Piéton said Medtronic has a “clear path to deliver durable growth.” PR Newswire PR Newswire
Medtronic’s heart-device story is the main driver here. The company said it has made investments in Beluga Medical and CardioACC. Both are private firms working on ICE catheter technology, which lets doctors see real-time images inside the heart during electrophysiology procedures. Rebecca Seidel, the president of Cardiac Ablation Solutions at Medtronic, said there’s “demand for better technologies in electrophysiology.” Khaldoun Tarakji, chief medical officer, called ICE a “procedural essential.” Medtronic News
Surgery was another area Medtronic pointed to for growth. The company said it filed 510(k) submissions to expand its Hugo robotic-assisted surgery system in the U.S. for both general and gynecologic procedures, and got clearance for its ProGrip Advanced mesh for robotic-assisted ventral hernia repair. A 510(k) shows a device is basically the same as one already cleared for market in the U.S. “The Hugo steps were not just a portfolio expansion,” said Matt Anderson, who heads Medtronic’s Surgical business. Medtronic News U.S. Food and Drug Administration
Large-cap medtechs were split at Friday’s close. Abbott Laboratories added 0.32% to $91.07. Boston Scientific dropped 0.61% at $48.55. Stryker climbed 1.47% to $305.66. Medtronic was in the middle, not leading or trailing as the week ended.
Medtronic has no investor events on its calendar for the week ahead, leaving the stock to move on post-earnings calls, the broader market, and interest from dividend buyers. Google Finance puts the next ex-dividend date at June 26 and shows analysts lean positive: 13 buy and nine hold ratings, with no sell among 22 tracked in the last three months.
But there’s still risk on the table. Tariffs could hit margins more than expected. The MiniMed diabetes split could stall if the medtech market stays weak. FDA device filing reviews could move slower than investors are hoping. That means last week’s earnings boost might not last. Piéton told Reuters the company isn’t “under pressure” to set a hard deadline for separating MiniMed, which leaves options open in both directions. Reuters
Medtronic traded about 15.29 million shares Friday, topping the 11.21 million average from Google Finance. The volume points to strong interest in the stock. Whether it gets follow-through support will be clear next week.
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