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Russian (RU) Medtronic (MDT) stock slipped early Wednesday after the medical technology company beat fiscal fourth-quarter expectations, but announced plans to spin off its diabetes business.
For the quarter, Medtronic reported adjusted earnings of $1.62 per share on $8.93 billion in fiscal fourth-quarter sales.
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On average, analysts polled by FactSet expected the company to earn $1.58 a share and report $8.81 billion in sales.
During the year-earlier period, Medtronic earned $1.46 per share and had $8.59 billion in sales.
For fiscal year 2026, Medtronic guided to adjusted earnings of $5.50 to $5.60 per share and 5% organic sales growth. The lower end of its earnings outlook assumes the U.S./China tariffs resume at the higher rates after the 90-day pause. The higher side of the outlook assumes the current tariffs stay in place for the rest of the year.
Analysts projected earnings of $5.46 per share and $33.51 billion in sales.
In premarket trades, Medtronic stock fell a fraction to 86.17. Shares are consolidating with a buy point at 96.25, according to MarketSurge. But Medtronic stock closed Tuesday in line with its 50-day moving average and below its 200-day line.
More to follow.
Follow Allison Gatlin on X/Twitter at @AGatlin_IBD.
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