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Medtronic: Is Symplicity Renal Denervation the Next Breakout Growth Engine?

Medtronic presented its Q2 fiscal 2026 earnings, reporting a notable quarter with revenue and EPS exceeding market expectations. The company recorded revenue growth of 6.6% on a reported basis and an organic increase of 5.5%, driven by solid performance across key business areas. Specifically, Cardiac Ablations led the way with a 71% growth, largely attributed to the expansion of its Pulsed Field Ablation (PFA) franchise. This was reinforced by the performance of its Affera mapping system, which saw significant demand and indicated potential for sustained growth as it takes market share in atrial fibrillation treatments. The company has raised its full-year revenue growth guidance from 5% to 5.5% based on its strong first-half performance and anticipated momentum in the latter half. Medtronic’s PFA and Symplicity franchises, particularly, are highlighted as strong growth drivers, with significant future potential seen in the Symplicity procedure for hypertension due to recent Medicare coverage enhancements.