# Medtronic cardiovascular growth in Q2

cardiovascular organic revenue growth in Q2 2027

Updated: September 10, 2026

Category: Financials

Tags: Companies, KPIs

HTML: /markets/financials/companies/medtronic-cardiovascular-growth-in-q2/

## Short Answer

**Medtronic's cardiovascular organic revenue growth is expected to exceed 8% in Q2 2027, driven by strong Q2 guidance for Cardiac Ablation Solutions and continued momentum in Cardiac Rhythm Management despite expected moderation from Q1 FY27.** The **market** prices this outcome at **92.0%**, diverging significantly from the **model**'s **67.7%**.

## Key Claims (September 2026)

**- - Above 8% growth appears likely, exceeding Medtronic's 6% Q2 cardiovascular organic growth expectation.** - Cardiac Ablation Solutions' double-digit growth and Affera Sphere-9 scale-up drive "Above **9%**".

## Market Behavior & Drivers

Medtronic's explicit anticipation of Cardiac Ablation Solutions driving strong Q2 growth powers the **market** at 81c.

The market's sharp repricing on September 9, 2026, followed the release of Medtronic's corporate guidance. The initial market price of 6.0% directly reflected the company's projection of approximately 6% organic revenue growth for Q2 FY27. The subsequent spike to 79.0% on the same day indicates a swift rejection of that guidance. Traders appear to have been influenced by the company's stronger historical performance, specifically the 9.3% cardiovascular organic growth reported for the prior year's comparable quarter (Q2 FY26).

This re-rating from the company's forecast to a much higher probability suggests the market views official guidance as conservative. The move occurred on what sample data reports as zero volume, indicating the price shift may not reflect broad conviction. The market's current level near 81.0% persists despite company statements that strong cardiovascular growth seen in Q1 FY27 is expected to moderate.

### Who Wins and Why

| Outcome | Market | Model | Why |
| --- | --- | --- | --- |
| Above 9% | 81.0% | 52.8% | Research does not highlight strong supporting evidence. |
| Above 14% | 18.0% | 2.0% | Research does not highlight strong supporting evidence. |
| Above 11% | 45.0% | 22.5% | Research does not highlight strong supporting evidence. |

## Model vs Market

| Outcome | Market Probability | Octagon Model Probability |
| --- | --- | --- |
| Above 9% | 81.0% | 52.8% |
| Above 14% | 18.0% | 2.0% |
| Above 11% | 45.0% | 22.5% |
| Above 11.5% | 53.0% | 22.5% |
| Above 13% | 33.0% | 5.5% |
| Above 8% | 92.0% | 67.7% |
| Above 10% | 0.0% | 22.5% |
| Above 10.5% | 0.0% | 22.5% |
| Above 12% | 0.0% | 5.5% |

- Expiration: March 31, 2027

## Significant Price Movements

#### 📈 September 09, 2026: 87.0pp spike

Price increased from 6.0% to 93.0%

**Outcome:** Above 8%

**What happened:** The provided research indicates a discrepancy with the market movement's premise. Medtronic's fiscal year 2026 Q2 financial results were reported on November 18, 2025, with cardiovascular organic growth at 9.3% [[^]](https://news.medtronic.com/2025-11-18-Medtronic-reports-strong-second-quarter-fiscal-2026-financial-results,-enterprise-growth-drivers-accelerate-momentum)[[^]](https://www.sec.gov/Archives/edgar/data/1613103/000162828025052771/exhibit991-fy26q2earningsr.htm). There is no evidence in the available sources of an "87.0 percentage point spike" related to Medtronic's cardiovascular growth in Q2 occurring on September 9, 2026, as the entire FY26 reporting concluded by June 3, 2026 [[^]](https://www.sec.gov/Archives/edgar/data/1613103/000162828025052771/exhibit991-fy26q2earningsr.htm)[[^]](https://www.sec.gov/Archives/edgar/data/1613103/000162828026040034/exhibit991-fy26q4earningsr.htm). Therefore, without evidence of the described market event occurring on that date or an 87.0pp spike, it is not possible to identify a primary driver, including social media activity.

## Contract Snapshot

This market resolves to YES if Medtronic's Cardiovascular Organic Revenue Growth for Q2 is above the specific percentage stated in the market (e.g., above 11% for the "Above 11%" market). Conversely, it resolves to NO if the growth is at or below that percentage. Trading for this market concludes on November 17 at 6:00 AM EST, with the maximum payout date set for March 31, 2027.

## Market Discussion

Medtronic reported strong FY2027 Q1 cardiovascular revenue growth of 19.5% (18.9% organic) [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/), which led them to raise their full-year FY2027 organic revenue growth guidance to 7.25% to 7.75% [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://www.reuters.com/business/healthcare-pharmaceuticals/medtronic-boosts-fiscal-2027-forecasts-heart-device-demand-2026-09-01/). However, the company expects Q2 FY2027 cardiovascular organic revenue growth to moderate due to tougher year-over-year comparisons, with overall Q2 organic revenue growth targeted at roughly 6% [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/). Despite this, prediction markets show an implied 43% probability as of September 9, 2026, that Q2 FY2027 cardiovascular organic revenue growth will exceed 11.5% [[^]](https://kalshi.com/markets/kxmdt/medtronic-quarter-kpi/kxmdt-26deccardgrow)[[^]](https://www.coinrithm.com/en/prediction-markets/kalshi/kxmdt-26deccardgrow).

## Market Data

| Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest |
| --- | --- | --- | --- | --- | --- |
| Above 10% | 60% | 70% | 0% | $0 | $0 |
| Above 10.5% | 50% | 61% | 0% | $0 | $0 |
| Above 11% | 45% | 52% | 45% | $600.01 | $200.01 |
| Above 11.5% | 41% | 51% | 53% | $580.01 | $580.01 |
| Above 12% | 30% | 46% | 0% | $0 | $0 |
| Above 13% | 6% | 28% | 33% | $251 | $251 |
| Above 14% | 5% | 17% | 18% | $651 | $651 |
| Above 8% | 92% | 96% | 92% | $226 | $226 |
| Above 9% | 80% | 81% | 81% | $724 | $724 |

## What is the consensus among Wall Street analysts for Medtronic's Q2 FY2027 cardiovascular organic revenue growth, and how does it compare to company guidance?

Medtronic Q2 FY2027 Total Company Organic Revenue Growth Expectation | Approximately 6% [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf) |
Medtronic Q2 FY2027 Foreign Exchange Headwind Expectation | Approximately $25 million to $75 million [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf) |
Medtronic Q1 FY2027 Cardiovascular Organic Revenue Growth | 18.9% [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf) |

**The provided research does not include information on Wall Street analysts' consensus for Medtronic's Q2 FY2027 cardiovascular organic revenue growth**

The provided research does not include information on Wall Street analysts' consensus for Medtronic's Q2 FY2027 cardiovascular organic revenue growth. Medtronic management also did not offer a specific numerical organic revenue growth guidance figure for its Cardiovascular portfolio for Q2 FY2027 [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf). However, Medtronic management anticipates approximately **6%** organic revenue growth for the company as a whole in Q2 FY2027. The company further expects a foreign exchange headwind of roughly **$25** million to **$75** million for the same quarter [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf).

Medtronic's Cardiovascular portfolio significantly exceeded expectations in Q1 FY2027. In the prior quarter, Medtronic's Cardiovascular portfolio achieved **18.9%** organic revenue growth, surpassing expectations [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf). This strong performance was primarily fueled by robust results in Cardiac Ablation Solutions and Cardiac Rhythm Management [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf).

## How does Medtronic's recent cardiovascular segment growth compare to that of its key competitors, Boston Scientific and Abbott Laboratories?

Medtronic Cardiovascular Organic Revenue Growth (Q1 FY27) | 18.9% (Q1 fiscal year 2027) [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf) |
Boston Scientific Cardiovascular Organic Revenue Growth (Q2 2026) | 7.8% (Q2 2026) [[^]](https://www.sec.gov/Archives/edgar/data/885725/000088572526000051/q22026earningsrelease.htm)[[^]](https://www.prnewswire.com/news-releases/boston-scientific-announces-results-for-second-quarter-2026-302837127.html)[[^]](https://investors.bostonscientific.com/~/media/Files/B/Boston-Scientific-IR-V3/FOH/q2-2026-foh.pdf) |
Abbott Laboratories Medical Devices Comparable Sales Growth (Q2 2026) | 8.4% (Q2 2026) [[^]](https://www.prnewswire.com/news-releases/abbott-reports-second-quarter-2026-results-and-raises-full-year-eps-guidance-302827508.html)[[^]](https://www.sec.gov/Archives/edgar/data/1800/000162828026048377/abt-2026q2xexhibitx991.htm) |

**Medtronic's cardiovascular segment growth recently surpassed key competitors' reported figures**

Medtronic's cardiovascular segment growth recently surpassed key competitors' reported figures. In the first quarter of fiscal year 2027, Medtronic's cardiovascular segment achieved **18.9%** organic revenue growth [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf). This performance outpaced Boston Scientific, which reported **7.8%** organic revenue growth in its cardiovascular segment during the second quarter of 2026 [[^]](https://www.sec.gov/Archives/edgar/data/885725/000088572526000051/q22026earningsrelease.htm)[[^]](https://www.prnewswire.com/news-releases/boston-scientific-announces-results-for-second-quarter-2026-302837127.html)[[^]](https://investors.bostonscientific.com/~/media/Files/B/Boston-Scientific-IR-V3/FOH/q2-2026-foh.pdf). Similarly, Abbott Laboratories' Medical Devices segment, encompassing various cardiovascular businesses, saw an **8.4%** comparable sales growth in the second quarter of 2026 [[^]](https://www.prnewswire.com/news-releases/abbott-reports-second-quarter-2026-results-and-raises-full-year-eps-guidance-302827508.html)[[^]](https://www.sec.gov/Archives/edgar/data/1800/000162828026048377/abt-2026q2xexhibitx991.htm).

Direct, period-matched comparisons for the most recent quarter are not available. While Medtronic anticipates approximately **6%** organic revenue growth for the company overall in its fiscal second quarter 2027 [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf), specific cardiovascular segment growth figures for Medtronic for Q2 2027 were not provided. Furthermore, comparable Q2 2027 cardiovascular growth figures for Boston Scientific or Abbott Laboratories are unavailable in the current information, preventing a direct, period-matched comparison of Medtronic's cardiovascular segment growth to that of its competitors for that quarter.

## Which specific product launches or new market approvals within Medtronic's Cardiovascular portfolio are expected to be key growth drivers in Q2 FY2027?

CAS Business Growth vs. Market (Q2 FY2027) | More than 3x (outpacing the market) [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/) |
Q1 FY2027 Cardiovascular Organic Growth | 18.9% [[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf) |
Transradial Catheter Launch Expectation | Second half of fiscal year 2027 [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf) |

**Medtronic anticipates Cardiac Ablation Solutions to drive Q2 FY2027 growth**

Medtronic anticipates Cardiac Ablation Solutions to drive Q2 FY2027 growth. The company projects its Cardiac Ablation Solutions (CAS) business, particularly the Affera mapping and ablation system and Sphere-9 catheter, as a key growth driver for Q2 FY2027 [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/). Management expects the CAS business to achieve growth exceeding the **market** rate by over three times during this period [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/). Additional contributions to cardiovascular growth are foreseen from the expansion of the Affera system for ventricular arrhythmias, the integration of CathWorks for angio-based FFR, and consistent performance in Cardiac Rhythm Management (CRM) through conduction system pacing and Micra leadless pacing [[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf)[[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf).

Strong Q1 FY2027 performance underpins the positive Q2 outlook. This favorable forecast for Q2 FY2027 follows Medtronic's robust Q1 FY2027, where its Cardiovascular portfolio achieved an **18.9%** organic growth [[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf). This strong performance prompted the company to raise its overall FY2027 revenue growth guidance [[^]](https://filecache.investorroom.com/mr5ir_medtronic/915/FY27Q1-Press-Release.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf). While Medtronic's transradial catheter is advancing toward launch, its introduction is anticipated in the second half of fiscal year 2027, meaning its growth contributions are expected later in the fiscal year rather than during Q2 FY2027 [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/917/FY27Q1-Earnings-Presentation.pdf).

## What leading indicators, such as regional hospital procedure volume data, are available to track cardiovascular market trends during Medtronic's Q2 FY2027?

Medtronic Q1 FY27 Cardiovascular Organic Growth | 18.9% [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://www.biopharmawatch.com/news/MDT/medtronic-q1-fiscal-2027-results-guidance)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/) |
Medtronic Q2 FY27 Cardiovascular Market Outperformance | More than 3x [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://www.biopharmawatch.com/news/MDT/medtronic-q1-fiscal-2027-results-guidance)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/) |
Leading Indicators for Cardiovascular Market | Hospital procedure volume data and site-of-care shifts [[^]](https://www.definitivehc.com/resources/healthcare-insights/patient-care-procedure-trends-cardiology-facility-type)[[^]](https://www.lifesciencemarketresearch.com/procedure-volumes/cardiovascular-surgical-procedure-volumes)[[^]](https://www.advisory.com/topics/market-analytics-and-forecasting/2024/06/cardiology-growth-forecast)[[^]](https://vizientinc-delivery.sitecorecontenthub.cloud/api/public/content/a9a32a0c7eed48089e38ee741283ee57?v=e09d4663)[[^]](https://img.resources.sg2.com/Web/Sg2/%7B607df356-6d74-483e-8c15-c2d0f2d3e0ec%7D_2024_Sg2_White_Paper_Rising_Tide_of_CV_Disease.pdf) |

**Cardiovascular market trends are tracked using key procedure volume data**

Cardiovascular **market** trends are tracked using key procedure volume data. Leading indicators for monitoring these trends during Medtronic's Q2 FY2027 include hospital procedure volume data derived from claims-based databases, as well as shifts in the site of care [[^]](https://www.definitivehc.com/resources/healthcare-insights/patient-care-procedure-trends-cardiology-facility-type)[[^]](https://www.lifesciencemarketresearch.com/procedure-volumes/cardiovascular-surgical-procedure-volumes)[[^]](https://www.advisory.com/topics/**market**-analytics-and-forecasting/2024/06/cardiology-growth-forecast)[[^]](https://vizientinc-delivery.sitecorecontenthub.cloud/api/public/content/a9a32a0c7eed48089e38ee741283ee57?v=e09d4663)[[^]](https://img.resources.sg2.com/Web/Sg2/%7B607df356-6d74-483e-8c15-c2d0f2d3e0ec%7D_2024_Sg2_White_Paper_Rising_Tide_of_CV_Disease.pdf). Specific claims-based databases such as Definitive Healthcare Atlas, Sg2 **Market** Scenario Planner, and LSI Global Surgical Procedure Volumes Database provide this crucial information. Additionally, the ongoing shifts in patient care from inpatient to outpatient or ambulatory settings are considered vital leading indicators [[^]](https://www.definitivehc.com/resources/healthcare-insights/patient-care-procedure-trends-cardiology-facility-type).

Medtronic's cardiovascular growth is projected to exceed **market** expectations. The company's cardiovascular segment is particularly impacted by Cardiac Ablation Solutions (CAS) and Electrophysiology Therapies (EPT), making industry-specific procedure data in these areas essential for tracking performance [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://www.biopharmawatch.com/news/MDT/medtronic-q1-fiscal-2027-results-guidance)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/)[[^]](https://pulse2.com/medtronic-revenue-rises-13-7-to-9-76-billion-as-broad-based-growth-drives-higher-fiscal-2027-outlook/). While Medtronic's cardiovascular segment reported **18.9%** organic growth in Q1 FY27, management anticipates cardiovascular growth will outpace the **market** by more than 3x in Q2 FY27. However, overall growth rates are expected to moderate compared to Q1 due0to increasingly strong prior-year comparables [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://www.biopharmawatch.com/news/MDT/medtronic-q1-fiscal-2027-results-guidance)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/).

## What evidence, beyond strong Q1 results, supports the market's expectation for Medtronic's Q2 cardiovascular growth to significantly outperform its own guidance?

CAS Q2 Market Outperformance | More than 3x (Q1 FY27 earnings call) [[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/)[[^]](https://finance.yahoo.com/healthcare/articles/medtronic-plc-mdt-q1-2027-190036091.html)[[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/) |
CRM Q1 Growth | 15% (Q1) [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/) |
Conduction System Pacing Impact | Added 200 basis points to CRM growth (Q1) [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/) |

**Medtronic expects strong Q2 cardiovascular growth driven by key segments**

Medtronic expects strong Q2 cardiovascular growth driven by key segments. Management explicitly anticipates its Cardiac Ablation Solutions (CAS) business to significantly outpace the **market** by more than three times in the second quarter, an increase from the 2.5 times **market**-beating performance observed for the full year [[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/). This positive outlook is reinforced by the continued strong momentum of Cardiac Rhythm Management (CRM), which achieved **15%** growth in Q1 [[^]](https://finance.yahoo.com/healthcare/articles/medtronic-plc-mdt-q1-2027-190036091.html). Furthermore, CRM benefited from the adoption of conduction system pacing, which added 200 basis points to its growth in Q1 [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf).

Multiple revenue opportunities suggest durable growth beyond initial strong results. Analysts and management highlight that Medtronic is currently in the early to middle stages of capitalizing on several significant revenue opportunities [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf). This perspective indicates that the robust Q1 results reflect an improving, durable growth profile rather than a singular event [[^]](https://www.medicaldevice-network.com/news/medtronic-raises-fy27-outlook-after-reporting-strong-q1-growth/)[[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf). This assessment provides further evidence supporting sustained strong performance, suggesting that Medtronic's Q2 cardiovascular growth could significantly outperform its own guidance.

## What Could Change the Odds

**Medtronic expects organic revenue growth of approximately 6% for the cardiovascular segment in Q2 of fiscal year 2027 [[^]](https://filecache.investorroom.com/mr5ir_medtronic/919/FY27Q1-Earnings-Commentary-FINAL.pdf)[[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/)[[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08).** Key growth drivers include the continued scale-up of the Affera Sphere-9 mapping and ablation system, momentum in Cardiac Ablation Solutions (CAS), expansion of the Evolut FX+ label, and continued adoption of Symplicity Spyral renal denervation [[^]](https://filecache.investorroom.com/mr5ir_medtronic/918/FY27Q1-Press%20Release-FINAL.pdf)[[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/)[[^]](https://eureka.patsnap.com/blog/life-science/esc-2026-medtronic-competitive-landscape-analysis/). The Q2 FY27 earnings release is projected for November 24, 2026 [[^]](https://www.marketscreener.com/quote/stock/MEDTRONIC-PLC-20661655/calendar/)[[^]](https://in.marketscreener.com/quote/stock/MEDTRONIC-PLC-20661655/calendar/), at which point the cardiovascular organic growth figure will first appear [[^]](https://octagonai.co/files/transcripts/MDT/MDT_Q2_2026.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260910%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260910T075225Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=4ae03de5b666f453a47a52f93a6925f1d19c121fa933dbc01dbd60674aef5ab3#page=3).

**For the full fiscal year 2027, Medtronic has raised its total company organic revenue guidance to a range of 7.25%–7.75% [[^]](https://eureka.patsnap.com/blog/life-science/esc-2026-medtronic-competitive-landscape-analysis/).** Q2 FY27 EPS guidance is set at **$1.32**–**$1.34**, with FY27 EPS guidance at **$5.94**–**$6.00** [[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/). Cardiac ablation revenue jumped **88%** year-over-year in Q1 FY27 [[^]](https://in.marketscreener.com/quote/stock/MEDTRONIC-PLC-20661655/calendar/), with management expecting ablation to grow more than 2.5 times the approximately **15%** **market** rate in FY27, driven by Sphere-9 [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08). CRM grew approximately **9%** adjusted in Q1 [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08). Conversely, potential headwinds include PFA share erosion to competitors like Farapulse, foreign exchange impacts estimated at **$25** million to **$75** million in Q2 FY27 [[^]](https://singjupost.com/transcript-q1-fy27-medtronic-plc-earnings-conference-call/)[[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08), a **40%** decline in cryo ablation [[^]](https://octagonai.co/files/transcripts/MDT/MDT_Q2_2026.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260910%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260910T075225Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=4ae03de5b666f453a47a52f93a6925f1d19c121fa933dbc01dbd60674aef5ab3#page=3), and the peripheral vascular segment's persistent low-growth status [[^]](https://octagonai.co/files/transcripts/MDT/MDT_Q2_2026.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260910%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260910T075225Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=4ae03de5b666f453a47a52f93a6925f1d19c121fa933dbc01dbd60674aef5ab3#page=3).

**Key takeaway.** A significant catalyst following the Q2 earnings release will be Medtronic's Investor Day, scheduled for December 10-11, 2026, in Charlotte, NC [[^]](https://finance.biggo.com/quote/MDT/earnings-call/US_MDT_2026-09-08).

## Key Dates & Catalysts

- **Expiration:** March 31, 2027
- **Closes:** March 31, 2027

## Decision-Flipping Events

- Medtronic expects organic revenue growth of approximately **6%** for the cardiovascular segment in Q2 of fiscal year 2027 [^] [^] [^] .
- Key growth drivers include the continued scale-up of the Affera Sphere-9 mapping and ablation system, momentum in Cardiac Ablation Solutions (CAS), expansion of the Evolut FX+ label, and continued adoption of Symplicity Spyral renal denervation [^] [^] [^] .
- The Q2 FY27 earnings release is projected for November 24, 2026 [^] [^] , at which point the cardiovascular organic growth figure will first appear [^] .
- For the full fiscal year 2027, Medtronic has raised its total company organic revenue guidance to a range of **7.25%**–**7.75%** [^] .

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## Historical Resolutions

**Historical Resolutions:** 7 markets in this series

**Outcomes:** 7 resolved YES, 0 resolved NO

**Recent resolutions:**

- KXMDT-26SEPCARDGROW-9: YES (Sep 01, 2026)
- KXMDT-26SEPCARDGROW-8: YES (Sep 01, 2026)
- KXMDT-26SEPCARDGROW-7: YES (Sep 01, 2026)
- KXMDT-26SEPCARDGROW-6: YES (Sep 01, 2026)
- KXMDT-26SEPCARDGROW-12: YES (Sep 01, 2026)

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