With a market cap of $99.9 billion, Medtronic plc (MDT) is a global medical technology company that develops, manufactures, and sells device-based therapies to healthcare providers and patients worldwide. The Ireland-based company operates across cardiovascular, neuroscience, medical-surgical, and diabetes care, offering innovative solutions that address a wide range of chronic and acute conditions.
MDT has faced challenges, and its shares have lagged behind the broader market over the past 52 weeks. MDT stock has dipped 6.8% over this time frame, while the broader S&P 500 Index ($SPX) has gained 28.5%. Moreover, the stock has fallen 19% on a YTD basis, trailing the index’s 6% rise.
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Looking closer, shares of the medical device company have also outperformed the State Street Health Care Select Sector SPDR ETF's (XLV) 5.2% return over the past 52 weeks and 6.1% drop in 2026.
www.barchart.com Medtronic has lagged the broader market over the past year due to slower growth, uncertainty around restructuring, and competitive pressures across key segments. Investors have remained cautious as the company faced softer demand trends in certain medical device categories, foreign exchange headwinds, and margin pressure tied to supply chain and operational costs.
A major overhang has been Medtronic’s diabetes business, which has struggled against stronger competition in the insulin pump and continuous glucose monitoring markets. The company’s decision to separate the diabetes unit has also introduced uncertainty around future earnings growth and portfolio strategy.
For the fiscal year that ended in April 2026, analysts expect MDT’s adjusted EPS to grow 1.5% year-over-year to $5.57. The company's earnings surprise history is promising. It topped the consensus estimates in the last four quarters.
Among the 28 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 13 “Strong Buy” ratings, two “Moderate Buy,” and 13 “Holds.”
www.barchart.com This configuration is bearish than two months ago, with 14 “Strong Buy” ratings on the stock.
On Apr. 22, UBS lowered its price target on Medtronic to $90 from $104 while maintaining a “Neutral” rating, as the firm revised its valuation model to account for the company’s planned diabetes business separation.
The mean price target of $106.87 represents a 37.4% premium to MDT’s current price levels. The Street-high price target of $120 implies a potential upside of 54.3% from the current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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