Needham & Company LLC Issues Pessimistic Forecast for Medtronic (NYSE:MDT) Stock Price

Key Points

• Needham & Company cut its price target on Medtronic from $120 to $101, though it kept a buy rating. The new target still implies about 30% upside from the prior close.
• Other analysts have also trimmed targets, and the stock now carries an average Moderate Buy rating with a consensus price target of $104.50. Fifteen analysts rate it a Buy and eleven a Hold.
• Medtronic recently beat quarterly earnings and revenue estimates, but its FY2027 EPS guidance of $5.90 to $6.00 came in below expectations. Shares rose 5.4% in Wednesday trading to $77.71.

Medtronic (NYSE:MDT - Get Free Report) had its price target decreased by Needham & Company LLC from $120.00 to $101.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical technology company's stock. Needham & Company LLC's target price would indicate a potential upside of 29.97% from the company's previous close.

MDT has been the subject of several other research reports. Daiwa Securities Group reduced their price target on shares of Medtronic from $117.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Citigroup cut their target price on shares of Medtronic from $117.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. The Goldman Sachs Group set a $84.00 target price on shares of Medtronic and gave the company a "neutral" rating in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Medtronic from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Finally, Mizuho set a $100.00 price target on shares of Medtronic and gave the company an "outperform" rating in a research report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Medtronic presently has an average rating of "Moderate Buy" and an average target price of $104.50.

Medtronic Stock Up 5.4%

Shares of MDT stock traded up $3.96 on Wednesday, reaching $77.71. 10,714,897 shares of the stock were exchanged, compared to its average volume of 9,053,168. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The business's 50 day moving average price is $82.11 and its 200 day moving average price is $92.49. The company has a market capitalization 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 has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to the consensus estimate of $9.61 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts expect that Medtronic will post 5.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Lodestone Wealth Management LLC acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $27,000. Anfield Capital Management LLC boosted its stake in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock worth $27,000 after acquiring an additional 230 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the fourth quarter worth approximately $29,000. Finally, GoalVest Advisory LLC purchased a new position in Medtronic during the fourth quarter worth approximately $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic News Roundup

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).

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