Needham & Company LLC Lowers Medtronic (NYSE:MDT) Price Target to $120.00

Medtronic (NYSE:MDT) had its price target cut by equities researchers at Needham & Company LLC from $121.00 to $120.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 21.81% from the company’s current price.

A number of other research analysts have also recently weighed in on MDT. CICC Research began coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “outperform” rating for the company. Daiwa Securities Group increased their price objective on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday, November 19th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Finally, UBS Group reaffirmed a “neutral” rating and set a $104.00 price objective on shares of Medtronic in a research report on Wednesday, February 4th. Sixteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.05.

Medtronic Stock Up 2.2%

Shares of MDT opened at $98.51 on Tuesday. The stock has a 50 day moving average price of $99.14 and a 200 day moving average price of $96.59. The stock has a market capitalization of $126.29 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.54 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. Medtronic has a one year low of $79.55 and a one year high of $106.33.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.88% and a net margin of 13.00%.The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Medtronic in the 4th quarter valued at approximately $1,653,485,000. Capital Research Global Investors boosted its holdings in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares in the last quarter. Barclays PLC grew its holdings in Medtronic by 104.6% during the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after buying an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group boosted its position in Medtronic by 78.3% in the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after purchasing an additional 3,307,211 shares during the last quarter. Finally, Guinness Asset Management LTD purchased a new stake in Medtronic in the 3rd quarter worth about $275,556,000. 82.06% of the stock is owned by institutional investors.

Medtronic News Roundup

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Q3 results beat consensus: Medtronic reported $9.0B in revenue and $1.36 non‑GAAP EPS, nudging past estimates as cardiovascular and diabetes growth led the quarter. This is the primary catalyst supporting the stock’s move. Medtronic beats quarterly profit estimates on robust demand for heart devices
• Positive Sentiment: Cardiac ablation and PFA strength: Cardiac Ablation Solutions grew ~80% (U.S. up ~137%), driven by pulsed field ablation — a clear growth engine for near‑term revenue expansion. Medtronic reports strong third quarter fiscal 2026 results with highest enterprise revenue growth in 10 quarters
• Positive Sentiment: FDA clearances and commercial milestones: The company secured FDA clearance for the Hugo™ RAS and reports the first U.S. surgical case; new device approvals and CE marks (e.g., Sphere‑360) support product pipeline upside. Medtronic announces first surgery with Hugo™ robotic-assisted surgery system in the U.S. performed at Cleveland Clinic
• Positive Sentiment: Commercial validation and adoption: Reports note U.S. cardiac ablations more than doubled and early commercial traction for Hugo in top centers — evidence of accelerating share gains in key markets. Medtronic U.S. cardiac ablations business more than doubled in Q3
• Neutral Sentiment: Guidance reaffirmed but conservative: Management reiterated FY26 guidance (EPS ~5.62–5.66), which was effectively in line with consensus — supportive but not a fresh upside catalyst. Medtronic PLC (MDT) Q3 2026 Earnings Call Highlights: Strong Cardiovascular Growth and …
• Positive Sentiment: M&A & pipeline moves: Recent bolt‑on deals (CathWorks, Anteris) and longer‑term robotics/structural‑heart catalysts bolster the multi‑year growth story investors are pricing in. Medtronic reports strong third quarter fiscal 2026 results with highest enterprise revenue growth in 10 quarters
• Negative Sentiment: Analysts trimming targets / forecasts: Multiple firms trimmed price targets (Leerink, JPMorgan, Baird) or adjusted models after Q3 — a headwind for near‑term sentiment even as ratings mostly remain Buy/Outperform. Leerink Partners adjusts price target on Medtronic to 119 from 120; maintains Outperform rating
• Negative Sentiment: Margin pressure and tariff impacts: Management noted cost and tariff pressures that compressed margins this quarter — a risk to near‑term profitability until cost levers or price actions offset them. Medtronic Profit Falls Despite Higher Revenue
• Neutral Sentiment: Technical/market narrative: MarketBeat and other commentary point to a bullish technical reversal and institutional accumulation — supportive for the stock if fundamentals remain intact, but tactical. Medtronic’s “Textbook” Reversal: How High Can It Really Go in 2026?

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).