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Medtronic Beats Q4, Hikes Dividend, But 2026 Outlook Disappoints

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Medtronic (NYSE:MDT) reported better-than-expected fiscal Q4 earnings and revenue, while unveiling plans to spin off its Diabetes business. However, full-year guidance for fiscal 2026 came in below analyst expectations.

For the quarter, the medical device giant posted EPS of $1.62, beating the $1.58 consensus. Revenue rose 3.6% year-over-year to $8.93 billion, topping the $8.82 billion forecast. Adjusted operating margin improved to 27.8%, up from 26.9% a year ago, though slightly shy of estimates. The company also increased its quarterly dividend to $0.71 per share, bringing the annualized payout to $2.84.

Looking ahead, Medtronic expects fiscal 2026 EPS between $5.50 and $5.60, missing the Street’s $5.83 estimate. The company guided for approximately 5% organic revenue growth.

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