Medtronic plc (MDT)

Outperform Recap: Q4 FY26

The Washout Meets the Proof: A Ten-Year-Best Year Closes at Thirteen Times Earnings, Margins Inflect, and Symplicity Finally Gets a Number — Maintain Outperform

Outperform Recap: Q3 FY26

Six Percent Growth, Sold: The Telegraphed Trough Quarter Arrives and the Street Reads the FY27 Footnotes — Maintain Outperform

Outperform Recap: Q2 FY26

The Show-Me Quarter Showed Up: CAS +71%, a Best-Case NCD, and the First Organic Guide Raise of the Year — Upgrading to Outperform

Hold Recap: Q1 FY26

Eleven Straight Quarters of Mid-Single-Digit Growth — and an Activist Who Agrees That Isn't Enough. Initiating at Hold