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%
- 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 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 6.2/10.
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
- Thin upside margin: 3.7%
- Negative momentum
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
- $90.96
- Price target
- $94.28
- Stop
- $87.24
- Upside to target
- +3.6%
- Reward-to-risk
- 0.7:1
The stock trades at 22.4× trailing but 14.2× forward earnings — consensus estimates already build in a substantial earnings recovery.
Model outputs from TrendMatrix’s engine as of 2026-09-14 — 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
- $116.35B
- P/E (fwd)
- 14.2
- P/E (ttm)
- 22.4
- 52-week range
- $73.31–$106.33
- Off 52-week high
- 14.5%
- RSI (14)
- 41
- Volume vs avg
- 0.68×
- Score today
- 6.2/10