Medtronic reported third quarter fiscal 2026 results on February 17, 2026, with revenue of 9.0 billion dollars, up 8.7 percent as reported and 6.0 percent organic, exceeding guidance by 50 basis points. Non-GAAP diluted EPS was 1.36 dollars, three cents ahead of guidance. The Cardiovascular portfolio grew 11 percent year-over-year, while Cardiac Ablation Solutions revenue increased 80 percent, including 137 percent growth in the U.S. The company received FDA clearance for the Hugo robotic-assisted surgery system and the Stealth AXiS surgical system for spinal procedures. Diabetes revenue increased 8.3 percent. The company completed two acquisitions including CathWorks and Anteris. However, Medtronic expects a 185 million dollar hit from tariffs in the fiscal year, and profit fell despite higher revenue due to increased costs and business investments.
Read full analysisMedtronic reported third quarter fiscal 2026 results on February 17, 2026, with revenue of 9.0 billion dollars, up 8.7 percent as reported and 6.0 percent organic, exceeding guidance by 50 basis points. Non-GAAP diluted EPS was 1.36 dollars, three cents ahead of guidance. The Cardiovascular portfolio grew 11 percent year-over-year, while Cardiac Ablation Solutions revenue increased 80 percent, including 137 percent growth in the U.S. The company received FDA clearance for the Hugo robotic-assisted surgery system and the Stealth AXiS surgical system for spinal procedures. Diabetes revenue increased 8.3 percent. The company completed two acquisitions including CathWorks and Anteris. However, Medtronic expects a 185 million dollar hit from tariffs in the fiscal year, and profit fell despite higher revenue due to increased costs and business investments.
Medtronic is one of the world's largest medical device companies, manufacturing products across cardiovascular, neuroscience, diabetes, and surgical technology segments. The company is in the midst of an innovation push, having just completed the first U.S. case with its Hugo robotic surgery system at Cleveland Clinic and secured FDA clearance for its Stealth AXiS spine platform. Today's rebound follows yesterday's post-earnings selloff, where a $185 million projected tariff hit and unchanged full-year guidance overshadowed the company's strongest revenue growth in 10 quarters.