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Medtronic plc

MDT · NYSE

Market closed$83.20$-0.360000 (-0.43%)After hours $83.20 · 0.00%

Key statistics

Previous close$83.56
Open$83.95
Day high$84.69
Day low$82.71
52-week high$106.33
52-week low$73.31
Market cap106.50B
Volume6.28M
Average volume10.29M
P/E ratio15.05
Forward P/E—
EPS5.53
Dividend yield+3.43%

Market context

Why it moved

MDT shares edged lower amid a broad market selloff, as the Nasdaq and S&P 500 both fell sharply following news of a competitive Chinese AI model that renewed concerns about the AI spending boom, while rising oil prices on Middle East tensions added to inflation fears weighing on equities broadly.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Medtronic closed modestly lower as sector-wide headwinds overshadowed its $650 million acquisition of SPR Therapeutics, completed July 16, which adds the SPRINT peripheral nerve stimulation system to its pain portfolio. Investor sentiment across medical devices was rattled after Intuitive Surgical plunged ~14% on underwhelming procedure growth guidance, amplifying ACA-related procedure volume fears first raised by HCA — a concern that dragged peers including Globus Medical and Enovis down 4-5%. Meanwhile, Piper Sandler reiterated a Hold with an $85 price target, below the broader analyst consensus of ~$94.67, keeping valuation scrutiny in focus ahead of Medtronic's own upcoming earnings.

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July 17, 2026Medtronic shares rallied nearly 4% as the company announced the completion of its $650 million acquisition of SPR Therapeutics, expanding its pain management portfolio, while the broader healthcare sector surged on UnitedHealth Group's strong Q2 earnings beat and raised full-year guidance. The sector tailwind was further reinforced by Abbott Laboratories posting 13% year-over-year revenue growth, with Piper Sandler maintaining a Hold rating and $85 price target on Medtronic amid an analyst consensus average target of $94.67.

3.8399

July 16, 2026Medtronic shares closed higher, recovering from the prior session's steep 5.1% selloff triggered by HCA Healthcare's warning about declining surgery volumes and a weaker payer mix. The rebound came as HCA itself recovered 4.2% on the day, easing sector-wide procedure volume concerns. Analyst attention remained active, with Piper Sandler reaffirming a Hold at an $85 price target and Baird having raised its target to $91 (Neutral) the day prior — both well below the broader consensus average target of ~$94.67. UBS also upgraded healthcare as a key sector allocation, citing stabilizing fundamentals and improving earnings revisions.

1.4754

July 15, 2026Medtronic plunged alongside the broader medtech sector after HCA Healthcare reported Q2 declines of 2.3% in inpatient and 3.4% in outpatient surgeries, raising alarm about hospital procedure volumes ahead of key earnings. The surgical slowdown dragged procedure-sensitive peers including Stryker (-5.5%) and Intuitive Surgical (-6.2%), while analyst pressure mounted with TD Cowen slashing its Medtronic price target to $100 from $119 and Baird raising its target to $91 (from $85) while maintaining a Neutral rating. Shares recovered modestly in after-hours trading.

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July 14, 2026Medtronic closed slightly lower amid a broader market selloff driven by renewed U.S.-Iran military tensions that sent oil prices surging and rattled investor sentiment across equities. Despite the macro headwinds, company-specific news was constructive: BTIG raised its price target on Medtronic to $91 from $90 while maintaining its Buy rating, and a Seeking Alpha analysis highlighted the company's conservative fiscal 2027 guidance as "built to be beaten," assigning a $92 price target. Medtronic's recent Q4 FY2026 results — which showed revenue up 9.9% year-over-year to $9.8B and record full-year revenue of $36.4B — continue to underpin analyst optimism, even as the broader healthcare sector faces headwinds entering Q2 earnings season.

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July 11, 2026Medtronic closed up nearly 2%, outperforming the broader healthcare sector (XLV closed lower) amid a wave of bullish analyst commentary. A Seeking Alpha analysis rated the stock a Buy with a $92 price target, arguing that management's fiscal 2027 guidance — calling for 6.75%–7.25% organic revenue growth and ~8% EPS growth — is deliberately conservative and built to be beaten. This follows TD Cowen's maintained Buy rating, though with a lowered price target of $100 (from $119), and a separate report noting MDT could be roughly 9% undervalued even after a Class II recall of its Octopus 4 Tissue Stabilizer. The recall, involving 590 units with incorrectly positioned tubing, has been framed as manageable in scale, with investor focus instead centering on Medtronic's strong product cycle momentum, including 78% growth in Cardiac Ablation Solutions and the expanding Hugo robotic surgery platform.

1.7963

July 10, 2026Medtronic edged modestly higher, outperforming the broader healthcare sector ETF (XLV), which closed nearly flat in after-hours, as investors weighed a constructive fundamental backdrop against lingering near-term headwinds. The company continues to draw bullish analyst attention following its strongest annual revenue growth in a decade — Q4 FY2026 revenue rose 9.9% to $9.7 billion — with TD Cowen and RBC maintaining Buy ratings and price targets of $119 and $118, respectively, implying significant upside. Offsetting some optimism is a voluntary Class II recall of 590 units of the Octopus 4 Tissue Stabilizer and an insider share sale by the Chief Human Resources Officer, though both are considered limited in financial scope. Geopolitical volatility from renewed U.S.-Iran strikes in the Persian Gulf added macro uncertainty across markets, while healthcare remained a relative bright spot amid broader sector rotation.

0.4634

July 9, 2026Medtronic shares fell roughly 2% Wednesday, underperforming a healthcare sector that itself closed modestly lower, as a broader market risk-off move was triggered by President Trump declaring the U.S.-Iran ceasefire 'over,' sending oil prices surging 5%+ and stoking renewed inflation fears. Despite the macro headwinds, the fundamental backdrop remains constructive: analysts at TD Cowen and RBC maintain Buy ratings with price targets near $119, citing a major product cycle driven by 78% growth in Cardiac Ablation Solutions and the competitively priced Hugo robotic surgery system, while Evercore ISI only marginally trimmed its target to $105 from $106 on July 6.

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MassDevice · July 17, 2026Medtronic completes $650M SPR Therapeutics acquisitionMedTech Dive · July 17, 2026Medtronic completes SPR Therapeutics acquisitionMedtronic · July 16, 2026Medtronic completes acquisition of SPR, expanding patient access to minimally invasive, non-opioid treatment of chronic and acute painReuters · July 15, 2026Medtronic faces first trial in US hernia mesh injury casesMedtronic · June 3, 2026Medtronic reports fourth quarter and full year fiscal 2026 results; delivers highest annual revenue growth in 10 yearsInvesting.com · June 3, 2026Earnings call transcript: Medtronic’s Q4 2026 results exceed expectationsInvesting News Network · May 6, 2026Orchestra BioMed Receives $20 Million Payment from Medtronic Under Previously Announced Financing AgreementMedtronic · November 18, 2025Medtronic reports strong second quarter fiscal 2026 financial results, enterprise growth drivers accelerate momentum
Mt Newswire · July 16, 2026Medtronic Completes $650 Million Acquisition of SPR Therapeutics
Benzinga · July 14, 2026Wall Street's Most Accurate Analysts Give Their Take On 3 Health Care Stocks Delivering High-Dividend Yields
Benzinga · July 13, 2026Reported Earlier: FDA Announces Medtronic Recalls Certain Harmony Delivery Catheter System
Mt Newswire · July 13, 2026BTIG Research Adjusts Medtronic Price Target to $91 From $90, Maintains Buy Rating
Benzinga · July 10, 2026TD Cowen Maintains Buy on Medtronic, Lowers Price Target to $100
Mt Newswire · July 10, 2026TD Cowen Adjusts Price Target on Medtronic to $100 From $119
Mt Newswire · July 6, 2026Evercore ISI Adjusts Price Target on Medtronic to $105 From $106
Benzinga · June 29, 2026Wall Street's Most Accurate Analysts Give Their Take On 3 Health Care Stocks Delivering High-Dividend Yields

Peers

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