Medtronic (NYSE:MDT) Price Target Cut to $119.00 by Analysts at Leerink Partners

Medtronic (NYSE:MDT) had its price objective reduced by Leerink Partners from $120.00 to $119.00 in a research note published on Wednesday morning,MarketScreener reports. They currently have an outperform rating on the medical technology company’s stock.

MDT has been the subject of several other reports. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Morgan Stanley upped their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Needham & Company LLC lowered their target price on Medtronic from $121.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Barclays restated an “overweight” rating and issued a $118.00 price target on shares of Medtronic in a report on Wednesday. Sixteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Medtronic currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.05.

Medtronic Stock Up 2.2%

MDT opened at $98.51 on Wednesday. Medtronic has a 1 year low of $79.55 and a 1 year high of $106.33. The firm has a 50 day moving average price of $99.14 and a 200 day moving average price of $96.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company has a market cap of $126.29 billion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.88%. 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 previous year, the company posted $1.38 earnings per share. Medtronic’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Institutional Trading of Medtronic

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock worth $12,388,027,000 after acquiring an additional 1,888,381 shares in the last quarter. State Street Corp lifted its position in shares of Medtronic by 2.0% during the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Medtronic by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after purchasing an additional 1,419,730 shares during the last quarter. Capital Research Global Investors grew its stake 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 purchasing an additional 3,880,174 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after buying an additional 310,684 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Key Stories Impacting Medtronic

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).