Stock Track | Medtronic Soars 5.09% Pre-market on Strong Q2 Results and Raised Guidance

Stock Track11-18

Medtronic PLC (MDT) shares surged 5.09% in pre-market trading on Tuesday following the release of its second-quarter fiscal 2026 financial results, which exceeded analysts' expectations. The medical device maker reported robust growth in key segments and raised its full-year guidance, instilling confidence in investors.

The company reported adjusted earnings per share of $1.36, surpassing the consensus estimate of $1.31. Revenue for the quarter came in at $8.96 billion, beating the expected $8.87 billion. Medtronic's cardiovascular segment was a standout performer, with sales jumping 10.8% to $3.44 billion, driven by strong demand for its pulsed field ablation portfolio used to treat irregular heart rhythms.

In light of the strong performance, Medtronic raised its fiscal 2026 organic revenue growth forecast to approximately 5.5%, up from the previous projection of around 5%. The company also increased the lower end of its adjusted earnings per share guidance to $5.62, while maintaining the upper end at $5.66. This outlook includes a potential impact of about $185 million from tariffs. CEO Geoff Martha expressed confidence in the company's positioning for "even greater acceleration of revenue growth in the back half of the year and beyond," citing robust procedure volumes and strong end markets.

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