Stock Track | Medtronic Plunges 5.06% in Pre-market as Fiscal 2026 Guidance Falls Short of Estimates

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Medtronic PLC's stock fell sharply by 5.06% in pre-market trading, following the release of the company's third-quarter fiscal 2026 financial results and updated guidance.

While the medical device maker reported strong quarterly performance, with adjusted earnings per share of $1.36 beating the IBES estimate of $1.33 and revenue of $9,000 million surpassing the $8,905 million estimate, investors focused on the company's outlook. Medtronic provided fiscal 2026 adjusted EPS guidance in the range of $5.62 to $5.66, which came in below the FactSet consensus estimate of $5.72.

The market's negative reaction highlights investor concerns over the company's future earnings potential, overshadowing the positive third-quarter results that included the highest enterprise revenue growth in ten quarters.

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