Medical devices giant Medtronic Plc (NYSE:MDT) is scheduled to report its second-quarter fiscal year 2026 results on Tuesday, November 18.
According to data from Benzinga Pro, analysts estimate adjusted earnings of $1.315 per share and sales of $8.865 billion.
Bank of America (BofA) Securities expects Medtronic to post over 5% revenue growth in fiscal Q2, with momentum accelerating through the second half of FY25 and into 2026.
BofA maintains a Buy rating.
Analyst Travis Steed noted Medtronic likely needs to exceed 5% growth in the second quarter to justify a full-year guidance raise. He pointed out that the broader medtech space -- from TAVR to Spine -- has seen robust procedure growth in the quarter, with October and November trends also tracking strong.
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Steed sees cardiac ablation solutions expanding at a high-60% rate, and expects Medtronic to clarify its renal denervation (RDN) outlook following the final national coverage determination (NCD).
BofA views the finalized NCD language as incrementally positive, easing several proposed restrictions around medicine and lifestyle requirements, which could lift investor sentiment.
BofA anticipates renal denervation and management's commentary on the NCD to be a central focus on the upcoming earnings call. Meanwhile, Medtronic is nearing FDA clearance for its Spyral+ transradial approach, with approval expected by late 2026 or early 2027.
Medtronic reported strong first-quarter 2026 results, with sales hitting $8.58 billion, surpassing the consensus estimate of $8.38 billion. Adjusted earnings of $1.26 per share also beat expectations of $1.23.
Medtronic reiterated its fiscal year 2026 organic revenue growth guidance of 5%. It revised its fiscal 2026 revenue growth on a reported basis from 4.8%-5.1% to 6.5%-6.8%.
It raised sales guidance from $35.15 billion-$35.25 billion to $35.72 billion-$35.82 billion versus the consensus of $35.32 billion.
Price Action: MDT stock is up 2.42% at $94.91 at the last check on Tuesday.
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