Needham & Company LLC Has Lowered Expectations for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price objective decreased by research analysts at Needham & Company LLC from $120.00 to $101.00 in a research note issued to investors on Wednesday,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 29.97% from the stock’s previous close.

MDT has been the subject of several other research reports. Truist Financial dropped their price objective on shares of Medtronic from $103.00 to $95.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Barclays raised their price target on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st. Robert W. Baird raised their price target on shares of Medtronic from $92.00 to $93.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Evercore set a $106.00 price target on shares of Medtronic and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, Stifel Nicolaus lowered their target price on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating for the company in a report on Monday, April 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $104.50.

Medtronic Trading Up 5.4%

Shares of MDT stock traded up $3.96 during mid-day trading on Wednesday, hitting $77.71. 10,714,897 shares of the company’s stock were exchanged, compared to its average volume of 9,053,168. Medtronic has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The stock has a 50-day simple moving average of $82.11 and a two-hundred day simple moving average of $92.49. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The stock has a market cap of $99.77 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.76 and a beta of 0.58.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.81 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period last year, the company posted $1.62 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Equities analysts expect that Medtronic will post 5.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the last quarter. State Street Corp lifted its holdings in Medtronic by 2.0% in the 4th quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Medtronic by 2.7% during the 4th quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after acquiring an additional 1,419,730 shares during the period. Capital Research Global Investors lifted its holdings in shares of 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 worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Medtronic by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after acquiring an additional 231,919 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic beat quarterly revenue and earnings estimates, helped by strong cardiovascular performance and 78% global growth in Cardiac Ablation Solutions. Reuters: Medtronic beats quarterly estimates on robust demand for heart devices
• Positive Sentiment: The company raised its quarterly dividend to $0.72 per share, signaling confidence in cash generation and long-term stability. PR Newswire: Medtronic reports fourth quarter and full year fiscal 2026 results
• Positive Sentiment: Management outlined FY2027 organic revenue growth of 6.75% to 7.25%, reinforcing the view that growth momentum can continue. PR Newswire: Medtronic reports fourth quarter and full year fiscal 2026 results
• Neutral Sentiment: Medtronic also announced expanded Hugo robotic surgery filings and strategic investments in cardiac ablation-related technology, which support its longer-term growth story but are less immediate to today’s stock move. PR Newswire: Medtronic submits 510(k) filings to expand Hugo robotic-assisted surgery system
• Negative Sentiment: FY2027 EPS guidance of $5.90 to $6.00 came in below the consensus estimate of $6.06, tempering some of the post-earnings enthusiasm. PR Newswire: Medtronic reports fourth quarter and full year fiscal 2026 results

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).