Research
Research Alert: Mdt Posts Solid Fy 26; Margin Pressures Persist, Eps Guidance Disappoints
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:MDT posted Q4 FY 26 (Apr.) revenue of $9.8B (+9.9% reported, +6.6% organic), beating consensus by $194M, while non-GAAP EPS of $1.55 beat the consensus view by $0.01 but declined 4.3% Y/Y. The Cardiovascular Portfolio delivered solid 13.8% Y/Y growth to $3.8B in Q4, led by Cardiac Ablation Solutions sales surging 78% globally, reflecting rapid adoption of pulsed field ablation technologies. However, FY 27 guidance disappointed with non-GAAP EPS of $5.90-$6.00 below consensus at the midpoint of $5.95. Regulatory milestones including FDA submissions for Hugo robotic surgery system and CathWorks acquisition completion could advance growth, in our view. We think the active M&A strategy with Scientia Vascular and SPR Therapeutics acquisitions could complement organic innovation and boost revenues. While MDT could continue solid top-line performance with its robust pipeline and market positions, we believe margin pressures from rising costs, supply chain challenges, and tariffs could negatively impact profitability.
$MDT