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
- Reported EPS
- $1.45
- Estimate
- $1.39
- Surprise
- +4.5%
- Score at report (before → after)
- 5.7 → 5.9/10
Revenue for this quarter isn’t shown: the reported figure hasn’t cleared TrendMatrix’s freshness and sanity checks yet, and consensus revenue isn’t tracked. EPS above is the available figure.
How the report landed
Medtronic (MDT) beat the $1.39 estimate with diluted 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 6.5/10.
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
- V7 flight-to-quality bonus: +0.5 (Q=8.2 in RISK_OFF)
- Sector modifier (Healthcare): +0.5
What argues against it
- Concentration risk — Supplier: sole suppliers for certain components, raw materials and services
- Analyst target reached - limited upside remaining
- Target reached (-1.7% upside)
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
- $94.17
- Price target
- $108.30
- Stop
- $89.55
- Upside to target
- +15.0%
The stock trades at 24.7× trailing but 14.5× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-04 — 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
- $119.17B
- P/E (fwd)
- 14.5
- P/E (ttm)
- 24.7
- 52-week range
- $73.31–$106.33
- Off 52-week high
- 11.4%
- RSI (14)
- 61
- Volume vs avg
- 1.08×
- Score today
- 6.5/10