Medtronic Stock Drops Despite Earnings Beat
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BTCCSquare news:
Medtronic (MDT) shares fell 3.6% intraday despite surpassing fiscal Q1 2026 earnings expectations. The medical device Maker reported $1.26 adjusted EPS on $8.6 billion revenue, beating estimates of $1.23 EPS and $8.4 billion sales.
While revenue grew 8% YoY (5% organic), GAAP earnings of $0.81 per share showed only 1% growth. CEO Geoff Martha anticipates stronger H2 performance, but full-year guidance suggests slowing momentum with 6.5-6.8% revenue growth and 4.5% adjusted EPS growth projections.
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