Key Takeaways for Medtronic Stock as of September 2026
- Broad-Based Beat: Q1 revenue hit $9.76B, topping Street’s $9.54B estimate by 2.21% and up 14.25% YoY, while adjusted EPS of $1.45 beat estimates of $1.39 by 4.51%.
- Guidance Raise: Medtronic lifted FY27 organic revenue growth guidance to 7.25%-7.75%, a 50bps hike, and raised EPS guidance to $5.94-$6.00.
- CAS Breakout: Cardiac Ablation Solutions grew 88% worldwide (139% in the US) and topped $2B in trailing 12-month revenue ahead of schedule, with its US installed base up 35% sequentially.
- Doubling Down: CEO Geoff Martha called the $700M Cornerstone robotics deal confidence in Hugo, not doubt.
MDT Stock Beats Across the Board, Then Bets $700 Million Against Its Own Robot
Medtronic (MDT) delivered fiscal 2027 first quarter revenue of $9.756 billion, up 13.7% organically and topping Street estimates of $9.545 billion by 2.21%, in results posted September 1, 2026 for the quarter ended July 31, 2026. An extra selling week embedded in this year’s calendar added $570 million, or 670 basis points, to that growth rate. Strip that out and management still called it the strongest quarterly performance in nearly eight years, excluding COVID-era comparisons.
Cardiac Ablation Solutions did the heavy lifting. The pulsed-field ablation business grew 88% worldwide and 139% in the United States, pushing trailing 12-month revenue past $2 billion ahead of the timeline management had promised. The Affera mapping and ablation platform’s US installed base grew 35% sequentially, following 40% growth the prior quarter, and Sphere-9 added 9 points of US share during the period.
That strength wasn’t isolated. Cardiac Rhythm Management, a $5.5 billion annual franchise, grew 15% globally. Cranial & Spinal Technologies rose 13% behind the newly launched Stealth AXiS platform, and Surgical grew 9% as Hugo, the company’s soft-tissue robotic system, kept adding cases. Adjusted EPS of $1.45 came in six cents above the midpoint of guidance and above Street’s $1.39, up 15.08% year over year even as GAAP EPS of $1.14 jumped 40.74%.
That breadth gave management room to raise the outlook. Medtronic lifted its fiscal 2027 organic revenue growth guidance to a range of 7.25% to 7.75%, a 50 basis point increase, and pushed full-year adjusted EPS guidance up to $5.94 to $6.00. Operating margin is now expected to expand 50 basis points for the year, with operating profit growing roughly 10%, ahead of the top line.
Then came the twist. On the same morning as the print, Medtronic disclosed a $700 million strategic investment and distribution agreement with Cornerstone Robotics for its Sentire surgical system in select markets outside the United States, layering a second robotics platform on top of Hugo. Wells Fargo’s Larry Biegelsen asked management directly whether the deal signaled doubt about Hugo’s progress. CEO Geoff Martha answered on the Q1 FY27 earnings call: “We are doubling down here. We have a lot of confidence and conviction about our position in soft tissue right now.” Hugo is on pace to cross 50,000 completed procedures by fiscal year end, and management framed Cornerstone as an access play for underpenetrated international markets, not a hedge against its own platform.
TIKR Values Medtronic Stock at $142, Pricing In CAS and Robotics Compounding
TIKR’s mid-case model values Medtronic at $142 by April 2031, implying 54% total return from the current price of $92, or 10% annualized over 4.7 years.
That return profile places Medtronic stock among steady, high-single-digit-plus compounders rather than a re-rating story, with more of the case built on earnings growth than on multiple expansion.
The path to that target is visible in what’s compounding: CAS growth still running near triple digits, Hugo scaling toward 50,000 procedures, and a newly raised guide that already lifted full-year EPS to a $5.94 to $6.00 range. Medtronic stock trades at $92 today against a business generating double-digit operating profit growth, and the model treats that gap as the opportunity, not the risk.
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Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
