Medtronic (NYSE:MDT) Price Target Cut to $120.00 by Analysts at Needham & Company LLC

Medtronic (NYSE:MDT) had its target price reduced by Needham & Company LLC from $121.00 to $120.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the medical technology company’s stock.

A number of other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Monday, January 5th. Citigroup assumed coverage on shares of Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target for the company. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Sixteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $111.11.

Medtronic Price Performance

NYSE MDT opened at $96.33 on Tuesday. Medtronic has a 1 year low of $79.55 and a 1 year high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The company has a market cap of $123.50 billion, a P/E ratio of 25.96, a P/E/G ratio of 2.62 and a beta of 0.71. The company has a fifty day simple moving average of $99.19 and a 200 day simple moving average of $96.58.

Medtronic (NYSE:MDT) last announced 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 net margin of 13.71% and a return on equity of 14.86%. The business had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts predict that Medtronic will post 5.46 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Hedge Funds Weigh In On Medtronic

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

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Q3 beat and reiterated guidance — Medtronic reported $9.02B revenue and $1.36 non‑GAAP EPS (above estimates) and reaffirmed FY26 EPS guidance, which supports near‑term visibility. PR Newswire: Medtronic Q3 Results
• Positive Sentiment: Cardio & diabetes momentum — Cardiovascular revenue up double digits with Cardiac Ablation Solutions up ~80% (U.S. up 137%); diabetes also showed mid‑single digit growth — key organic drivers for revenue upside. PR Newswire: Segment Growth
• Positive Sentiment: Regulatory/commercial catalysts — FDA clearances and first U.S. Hugo robotic‑assisted surgery performed at Cleveland Clinic (plus Infuse bone graft OK for TLIF and MiniMed Flex submission), which expand addressable markets. PR Newswire: Hugo first U.S. case
• Positive Sentiment: Analyst bullishness — TD Cowen reiterated a Buy with a $119 PT, and Needham kept a Buy at $120 (small PT trims), signaling continued analyst conviction behind the recovery thesis. TipRanks: TD Cowen reiterates Buy
• Neutral Sentiment: Technicals & positioning — Market commentary points to a bullish reversal pattern and heavy institutional accumulation; useful context for momentum traders but not a fundamental driver. MarketBeat: Textbook reversal
• Negative Sentiment: Price‑target cut / neutral rating from Baird — Robert W. Baird trimmed its PT to $100 and moved to Neutral, which could cap upside for some investors. Benzinga: Baird PT cut
• Negative Sentiment: Margin pressure & rising costs — Reports note profit fell on higher costs and tariff impacts; margin compression is a near‑term risk even as revenue grows. WSJ: Profit falls despite higher revenue

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).