Medtronic (MDT) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- $1.45
- Estimate
- $1.39
- Surprise
- +4.5%
- Revenue (period 2026-07-31)
- $9.76B
- Score at report (before → after)
- 5.7 → 5.9/10
Revenue source: xbrl.
How the report landed
Medtronic (MDT) beat the $1.39 estimate with adjusted EPS of $1.45 — a clear 4.5% upside surprise. TrendMatrix's engine moved from Buy (Wait) (5.7/10) to Hold at 5.9/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates MDT Hold at 6.4/10.
4 of the last 4 quarters beat the estimate; this quarter's +4.5% surprise compares with a +2.6% four-quarter average. Next scheduled report: 2026-11-17.
What supports the rating
- Sector modifier (Healthcare): +0.5
- Strong earnings beat streak (4/4)
What argues against it
- Concentration risk — Supplier: sole suppliers
- Concentration risk — Supplier: particular sterilization facility
- Thin upside margin: 6.6%
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $88.51
- Price target
- $94.35
- Stop
- $85.81
- Upside to target
- +6.6%
- Reward-to-risk
- 1.3:1
The stock trades at 22.4× trailing but 13.9× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-24 — shown for context, not personalized investment advice.
MDT at TrendMatrix's latest read
Healthcare earnings trade on pipeline and payer dynamics as much as the quarter itself; a beat or miss is weighed against trial and reimbursement news.
- Industry
- Medical Devices
- Market cap
- $114.23B
- P/E (fwd)
- 13.9
- P/E (ttm)
- 22.4
- 52-week range
- $73.31–$106.33
- Off 52-week high
- 16.8%
- RSI (14)
- 32
- Volume vs avg
- 1.13×
- Score today
- 6.4/10