Medtronic and Intuitive Surgical underperform in 2026 amid broader healthcare weakness and firm-specific challenges.
Medtronic and Intuitive Surgical, two medical device leaders, have struggled this year, trailing broader market performance. Weakness in the healthcare sector and company-specific issues have weighed on both stocks, despite their strong market positions and product portfolios.
Medtronic reported mixed Q4 fiscal 2026 results, with revenue rising 9.9% to $9.8 billion but adjusted EPS falling 4.3% to $1.55 due to higher costs, including tariffs. The company’s guidance for the next fiscal year also disappointed analysts, contributing to a post-earnings stock decline. However, Medtronic achieved its highest annual revenue growth in a decade, driven partly by its Pulse Field Ablation franchise and new product launches.
Intuitive Surgical, while not detailed in the latest results, faces similar sector pressures. Both companies are viewed as potential turnaround candidates, though near-term challenges persist.