Market Overview - The US stock market experienced a decline, with the Dow Jones Industrial Average falling 114.78 points to 49,386.15, the S&P 500 dropping 16.85 points to 6,819.32, and the Nasdaq Composite declining 78.52 points to 22,468.15 [1][26] - This decline marks continued weakness, with the Dow and S&P 500 down in four of the past five weeks [1][26] Investor Sentiment - Concerns about artificial intelligence disrupting major industries, falling oil prices following Iran-US nuclear talks, and uncertainty regarding Federal Reserve rate cuts have negatively impacted investor sentiment [2][26] - The earnings season is nearing its end, with significant corporate reports from Walmart, Constellation Energy, Medtronic, and Palo Alto Networks being closely monitored [2][26] AI and Industry Impact - Investors are increasingly questioning how artificial intelligence will reshape various industries, including wealth management, transportation, logistics, and energy [5][26] - The uncertainty surrounding AI has led to profit-taking across technology and growth stocks, contributing to a 0.35% decline in the Nasdaq and a 0.25% loss in the S&P 500 [8][26] Earnings Reports - Constellation Energy's results are being watched for insights into how AI-driven data center demand is affecting electricity consumption [9][26] - Walmart's upcoming quarterly earnings report is critical as it is the company's first update since reaching a trillion-dollar market cap, with investors focusing on consumer spending trends [11][26] Commodity Market - Commodity markets are experiencing heavy selling pressure, with WTI crude oil down 1.05% to $62.23 and Brent crude declining 0.74% to $66.11 [16][27] - The decline in oil prices may ease inflation concerns but also signals potential demand worries [27] Cryptocurrency Market - The cryptocurrency market is also facing declines, with Bitcoin falling 2.19% to $67,326 and the Nasdaq Crypto Index losing 1.91% to 3,255.42, reflecting a broad-based weakness across digital assets [21][27] Economic Indicators - Upcoming economic data, including the Personal Consumption Expenditures (PCE) inflation index and fourth-quarter GDP, could significantly influence market movements [3][22] - A new analysis from Bank of America highlights a "K-shaped economy," where corporate profits are rising while labor income is falling, indicating potential long-term pressures on consumer spending [24][26]

Core Insights - The company experienced its strongest growth in the Cardiovascular portfolio in 10 years, achieving an 11% increase, primarily due to the rapid adoption of Pulse Field Ablation (PFA) [1] - Cardiac Ablation Solutions (CAS) saw an 80% growth attributed to the successful launch of the Affera mapping and navigation system and Sphere-9 catheter [1] - The company is shifting from foundational market-building to active commercial scaling for the Symplicity Spyral hypertension treatment and Altaviva for incontinence [1] - Strategic positioning in the spine market is being enhanced by the Stealth AXiS platform, which integrates AI-powered planning and robotics into existing surgical workflows [1] - A 30-basis-point benefit from pricing helped to mitigate negative impacts from inflation, prior-year non-recurring items, and a 20-basis-point headwind from cost-efficiency programs [1] - The Diabetes business experienced accelerated growth in the U.S. following the launch of Simplera Sync and Instinct, supported by expanded pharmacy channel access for the 780G system [1]

Core Insights - Medtronic plc (MDT) reported third-quarter fiscal 2026 adjusted earnings per share (EPS) of $1.36, a decrease of 2.2% year-over-year, but exceeded the Zacks Consensus Estimate by 2.07% [1] - The company achieved worldwide revenues of $9.02 billion, reflecting an 8.7% increase year-over-year and surpassing the Zacks Consensus Estimate by 1.35% [2] Revenue Breakdown - MDT's revenues are categorized into four segments: Cardiovascular, Medical Surgical, Neuroscience, and Diabetes - Cardiovascular revenues grew 10.6% organically to $3.46 billion, with Cardiac Rhythm & Heart Failure sales reaching $1.86 billion, up 17% year-over-year [3][4] - Medical Surgical sales totaled $2.17 billion, up 2.7% year-over-year, with Acute Care & Monitoring revenues increasing by 7% to $519 million [5] - Neuroscience revenues were $2.56 billion, up 2.5% year-over-year, while Diabetes revenues rose 8.3% organically to $796 million [6] Margin Performance - The gross margin contracted by 265 basis points to 63.8%, attributed to a 17.3% increase in the cost of products sold [7] - Research and development expenses rose 7% year-over-year to $722 million, and selling, general, and administrative expenses increased by 8.8% to $2.96 billion [7] - The adjusted operating margin fell by 253 basis points year-over-year to 23% [7] Fiscal Outlook - For fiscal 2026, Medtronic projects organic revenue growth of 5.5%, with the Zacks Consensus Estimate for worldwide revenues at $36.04 billion [8] - The full-year adjusted EPS is expected to be in the range of $5.62-$5.66, consistent with the Zacks Consensus Estimate of $5.64 [10] Strategic Developments - During the quarter, Medtronic received CE Mark for Sphere-360 and FDA clearance for Hugo robotic-assisted surgery [12] - The company executed its M&A strategy with two key transactions involving CathWorks and Anteris [12] Stock Performance - Following the earnings announcement, MDT shares rose by 2.9% in premarket trading [2] - The overall performance indicates strength in the portfolio, with organic revenue growth exceeding company guidance [11]

Core Insights - Medtronic reported $9.02 billion in revenue for the quarter ended January 2026, marking an 8.7% year-over-year increase and a surprise of +1.35% over the Zacks Consensus Estimate of $8.9 billion [1] - The earnings per share (EPS) for the same period was $1.36, slightly down from $1.39 a year ago, with an EPS surprise of +2.07% compared to the consensus estimate of $1.33 [1] Revenue Breakdown - U.S. Revenue: $4.49 billion, a 6% year-over-year increase, but below the average estimate of $4.59 billion [4] - International Revenue: $4.52 billion, exceeding the average estimate of $4.3 billion [4] - Cardiovascular Revenue: $3.46 billion, a 13.8% year-over-year increase, surpassing the average estimate of $3.39 billion [4] - Neuroscience Revenue: $2.56 billion, a 4.1% year-over-year increase, slightly below the average estimate of $2.58 billion [4] - Medical Surgical Revenue: $2.17 billion, a 4.9% year-over-year increase, exceeding the average estimate of $2.14 billion [4] - Diabetes Revenue: $796 million, a 14.7% year-over-year increase, surpassing the average estimate of $773.73 million [4] - Cardiac Rhythm & Heart Failure Revenue: $1.86 billion, a significant 20.1% year-over-year increase, exceeding the average estimate of $1.8 billion [4] Stock Performance - Medtronic shares have returned +2.8% over the past month, contrasting with a -1.4% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Medtronic Just Posted Its Best Quarter in 2.5 Years - 24/7 Wall St.[S&P 5006,801.40 -0.57%][Dow Jones49,305.60 -0.48%][Nasdaq 10024,498.60 -0.73%][Russell 20002,624.86 -0.54%][FTSE 10010,519.70 +0.48%][Nikkei 22556,668.00 -0.19%][Stock Market Live February 17, 2026: S&P 500 (ETF) Fighting to Go Green Again][Investing]# Medtronic Just Posted Its Best Quarter in 2.5 Years### Quick ReadMedtronic (MDT) delivered its strongest revenue growth in 10 quarters and beat Wall Street on revenue and earnings.Medtronic's ...

Financial Data and Key Metrics Changes - The company reported revenue of $9 billion, reflecting an 8.7% increase year-over-year and a 6% organic growth, which is a 50 basis point acceleration from the previous quarter [18][19] - Adjusted gross margin was 64.9%, ahead of expectations, with a 30 basis point benefit from pricing [19][20] - Adjusted operating profit was $2.2 billion, resulting in an adjusted operating margin of 24.1%, also ahead of expectations [21] Business Line Data and Key Metrics Changes - The cardiovascular portfolio delivered 11% year-over-year revenue growth, with 13% growth in the U.S., marking the strongest growth in the last 10 years, excluding COVID comparisons [12] - Cardiac rhythm management (CRM) contributed 15% of total revenue and grew 5%, driven by double-digit growth in Micra and over 70% growth in Aurora EV-ICD [12][13] - The neuroscience portfolio grew 3%, with expectations for the pipeline to impact growth in the fourth quarter [14][15] Market Data and Key Metrics Changes - U.S. growth was 6% year-over-year, the strongest performance since fiscal year 2019, excluding COVID comparisons [19] - In China, low single-digit growth was reported while navigating volume-based procurement challenges [19] - Western Europe experienced high single-digit growth, contributing to balanced geographical performance [19] Company Strategy and Development Direction - The company is focused on expanding its innovation pipeline, particularly in high-growth areas such as hypertension treatment with Symplicity and urinary incontinence with Altaviva [2][3] - The launch of the Hugo robotic system is seen as a significant growth driver, with initial installations and positive feedback from early cases [5][6] - The company is committed to M&A strategies, focusing on tuck-in deals that align with existing business segments [59][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining revenue and earnings growth, highlighting strong contributors like CAS and CRM [10][24] - The company anticipates continued growth from new product launches and market expansions, particularly in the U.S. [10][39] - There is an expectation for high single-digit EPS growth in fiscal year 2027, despite some headwinds from tariffs and M&A activities [24][68] Other Important Information - The planned separation of the MiniMed diabetes business is on track, with expectations for completion by the end of calendar year 2026 [18] - The company is investing in R&D and marketing to support growth areas, particularly in renal denervation and Altaviva [66] Q&A Session Summary Question: Comments on accelerating revenue growth next year and high single-digit earnings growth - Management indicated that growth will continue, driven by strong performance in CAS and other growth drivers like Symplicity and Altaviva [30][39] Question: Monitoring progress for RDN and Altaviva - Management mentioned strong leading indicators, including training of over 500 physicians and opening of new accounts for RDN [43] Question: Thoughts on capital allocation and M&A strategy - The company is focused on tuck-in M&A opportunities that align with existing business segments, prioritizing high-growth areas [59][60] Question: Impact of Hugo on surgical business growth - Management expressed excitement about the Hugo system's potential, noting positive feedback from initial cases and strong leading indicators [87]

Medtronic (NYSE:MDT) Q3 2026 Earnings call February 17, 2026 08:00 AM ET Company ParticipantsGeoff Martha - Chairman and CEOIngrid Goldberg - VP and Head of Investor RelationsThierry Piéton - EVP and CFOConference Call ParticipantsChris Pasquale - Equity Research AnalystChris Pasquale - Partner and Senior Analyst of Medical Devices and SuppliesDanielle Antalffy - Equity Research Analyst of Medical Devices and SuppliesJoanne Wuensch - Managing Director and Senior Equity Research Analyst of Medical Technology ...

Financial Data and Key Metrics Changes - The company reported revenue of $9 billion, growing 8.7% reported and 6% organic, which is a 50 basis point acceleration from the prior quarter and 50 basis points above guidance [15][18] - Adjusted gross margin was 64.9%, ahead of expectations, with a 30 basis point benefit from pricing and a negative 100 basis points impact from mix [16][17] - Adjusted operating profit was $2.2 billion, resulting in an adjusted operating margin of 24.1%, also ahead of expectations [18] Business Line Data and Key Metrics Changes - The cardiovascular portfolio delivered 11% year-over-year revenue growth, with CAS growing 80% year-over-year, primarily driven by PFA [10][11] - Cardiac rhythm management (CRM) contributed 15% of total revenue and grew 5%, driven by double-digit growth in Micro and over 70% growth in Aurora EV-ICD [10] - Neuroscience portfolio grew 3%, with cranial and spinal technologies delivering mid-single-digit growth [11][12] - The diabetes business, MiniMed, delivered 15% reported and over 8% organic growth, led by strong performance in international markets [14] Market Data and Key Metrics Changes - U.S. growth was 6% year-over-year, the strongest performance since fiscal year 2019, excluding COVID comparisons [16] - In China, low single-digit growth was reported, with mid-single-digit growth excluding volume-based procurement impacts [16] Company Strategy and Development Direction - The company is focused on driving sustained innovation across its portfolio, with significant investments in R&D and M&A to capitalize on high-growth opportunities [5][22] - The launch of Hugo and the expansion of Symplicity and UltraViva are key growth drivers, with expectations for these products to significantly impact revenue in the coming quarters [8][9] - The company is committed to a two-step IPO and split for the MiniMed business, expected to be completed by the end of calendar year 2026 [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory, highlighting strong contributors and businesses positioned for meaningful growth [8][22] - The company anticipates continued growth in the cardiovascular market, with expectations for high teens growth in fiscal 2027 [50] - Management acknowledged challenges in certain segments but emphasized plans to strengthen competitiveness and improve growth trajectories [9][22] Other Important Information - The company is actively pursuing M&A opportunities, focusing on tuck-in deals that align with its strategic goals [59] - The impact of tariffs on gross margin is expected to be approximately $185 million, with ongoing efforts to mitigate these effects [19][21] Q&A Session Summary Question: Comments on accelerating revenue growth next year - Management highlighted strong growth in CAS and other key drivers like Symplicity and UltraViva, expecting continued growth into FY 2027 [26][28] Question: Clarification on product launch progress for RDN and UltraViva - Management noted strong leading indicators for both products, including physician training and account openings, with plans to provide more concrete goalposts in the future [41][42] Question: Thoughts on capital allocation and M&A strategy - Management confirmed a focus on tuck-in M&A opportunities and strategic investments in high-growth areas, emphasizing a balanced approach to capital allocation [58][59] Question: Insights on CAS growth and market dynamics - Management expressed confidence in sustaining CAS growth, anticipating continued strong performance in the cardiovascular market [50][52] Question: Guidance for fiscal 2027 and EPS growth - Management reiterated high single-digit EPS growth guidance for FY 2027, factoring in various headwinds and growth drivers [66][69]

Core Insights - Medtronic reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.33 per share, but down from $1.39 per share a year ago, resulting in an earnings surprise of +2.07% [1] - The company achieved revenues of $9.02 billion for the quarter ended January 2026, surpassing the Zacks Consensus Estimate by 1.35% and up from $8.29 billion year-over-year [2] Earnings Performance - Medtronic has surpassed consensus EPS estimates in all four of the last quarters [2] - The company’s shares have increased by approximately 3.6% since the beginning of the year, contrasting with a 0.1% decline in the S&P 500 [3] Future Outlook - The future performance of Medtronic's stock will largely depend on management's commentary during the earnings call and the revisions of earnings estimates [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.68 on revenues of $9.6 billion, and for the current fiscal year, it is $5.64 on revenues of $36.04 billion [7] Industry Context - The Medical - Products industry, to which Medtronic belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

格隆汇2月17日｜医疗设备制造商美敦力公布2026财年第三季度业绩，营收同比增长8.7%至90亿美元， 超出市场预期1.1亿美元；调整后每股收益为1.36美元，超出市场预期0.02美元。公司重申其2026财年有 机营收增长预期约为5.5%，调整后每股收益预期为5.62美元至5.66美元，低于市场普遍预期的6.12美 元。 来源：格隆汇APP ...