Medtronic Plc (NYSE: MDT) is scheduled to release its quarterly earnings on Sept. 1 before U.S. markets open, with options traders pricing in a potential 4% share price swing around the report.
Bloomberg data indicates that the implied volatility for Medtronic’s shares in the lead-up to the earnings release is approximately 4%, a level consistent with the company’s historical earnings-driven moves. Over the past eight quarters, the stock has exceeded the implied move in five instances, suggesting investors should prepare for potential volatility beyond the priced-in range.
Recent performance has been mixed. In the most recent earnings on June 3, Medtronic shares moved just 0.5%, falling short of the 4.1% implied move. By contrast, the February 2026 report saw a 5.2% decline, surpassing the 3.6% implied volatility. The largest movement in the past eight quarters occurred in November 2025, when the stock surged 8.8%—more than double the 3.6% implied move. The smallest deviation was in May 2025, when shares fell 0.8% against a 3% implied move.
Historically, implied moves for Medtronic’s earnings have ranged between 3.0% and 4.1% over the past two years, reflecting a relatively stable expectation of volatility around quarterly reports. The upcoming earnings release will be closely watched for any signs of divergence from this pattern.
