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Medtronic plc (MDT) Stock Analysis

By Nova Skye | AltStation.io | Updated September 19, 2026

Price

$90.52

Change

-1.20%

Market Cap

$115.79B

Avg Volume

8.1M

Company Overview

Medtronic is a medical device giant in the Healthcare sector, founded in 1949 and headquartered in Galway, Ireland. The company develops and sells therapeutic hardware and clinical software to healthcare systems, physicians, and patients across global markets. Its business is built on three core divisions: Cardiovascular, Neuroscience, and Medical Surgical. The catalog runs deep, selling everything from implantable pacemakers and aortic valves to spinal modulation implants, surgical staplers, and continuous glucose monitors.

Medtronic is an established market leader in medtech, not a challenger, backed by a massive footprint across hospitals worldwide. Its scale gives it a major distribution moat in cardiac rhythm management, spine therapies, and minimally invasive tools. However, focused competitors like Boston Scientific, Abbott Laboratories, and Stryker constantly threaten its market share in high-margin cardiology and orthopedic niches. Medtronic’s sheer size can slow its rollout speed, but its enterprise-level contracting power keeps hospital accounts locked down.

The company is currently in expansion mode, growing total revenue from $32.4 billion in fiscal 2024 with 5.2% organic growth up to $33.5 billion in 2025 and $36.4 billion in 2026. The Cardiovascular segment remains the primary engine, delivering $13.98 billion in 2026 revenue behind cardiac ablation, structural heart implants, and remote monitoring software. Medtronic is aggressively rolling out AI-driven surgical video platforms and next-generation cardiac therapies to defend its premium pricing. It is a disciplined growth story focused on optimizing higher-margin device categories rather than chasing speculative pivots.

Key Financials

Market Cap

$115.79B

Revenue

$37.54B

EBITDA

$10.41B

Gross Margin

65.3%

Profit Margin

13.9%

Revenue Growth

13.7%

Total Cash

$8.82B

Total Debt

$28.15B

Free Cash Flow

$5.41B

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

22.30

Forward P/E

14.15

Beta

0.57

52-Week High

$106.33

52-Week Low

$73.31

EPS

$4.06

50-Day Avg

$87.45

200-Day Avg

$89.60

Price/Book

2.31

Technical Analysis

MDT trades at $90.52, 59% of the way from its technical 52-week low of $72.65 to its high of $103.76. The stock is 12.34% below that high and 25.20% above the low. Price is 1.13% below the 20-day moving average of $92.00. Momentum is weak over five trading days at -2.30%, while 20-day momentum remains slightly positive at 0.42%. Near-term support is $85.39, and resistance is $94.17.

Recent News and Developments

Medtronic launches MiniMed exchange offer

Medtronic launched an exchange offer to split off at least 80.1% of MiniMed, its former diabetes business. This moves the separation from planning into execution. Source: Seeking Alpha

MDT rebounds after four-session slide

MDT fell from $94.17 on September 4 to $90.96 on September 11, a 3.41% decline across four consecutive losing sessions. Shares rebounded 2.45% to $93.19 by 12:18 p.m. EDT on September 14. Source: Stock Analysis

Stealth AXiS enters clinical use in Europe

Medtronic completed more than 23 procedures with its Stealth AXiS surgical system across seven European sites. The platform combines AI-driven planning, real-time navigation and robotic-assisted execution, making this a real commercialization milestone. Source: Medtronic

Market Sentiment and Analyst Recommendations

Bull Case

Revenue growth of 13.7% gives investors a real fundamental reason to own MDT. Management also reported about 7% organic growth after removing the extra selling week, suggesting the underlying business is expanding without calendar help. Cardiac ablation, Symplicity, Altaviva and Hugo are the four growth platforms to watch, with cardiac ablation expected to grow about 2.5 times a market expanding roughly 15%. Stealth AXiS has entered clinical use through more than 23 procedures across seven European sites, moving the system beyond development and into commercialization. The MiniMed exchange offer advances the separation of at least 80.1% of the former diabetes business, which could leave Medtronic more focused. Analysts rate MDT a buy, with a $104.76 target and a high estimate of $121.00 versus the current $90.52 price.

Bear Case

MDT is not obviously cheap at 22.30 times earnings. The balance sheet also carries $28.15 billion of debt against $8.82 billion in cash, leaving debt more than three times cash. Price action is soft: the stock is below its $92.00 moving average, five-day momentum is -2.30%, and the shares remain 12.34% below their technical 52-week high. The MiniMed separation is now in execution, and separating at least 80.1% of a business creates operational risk even if the strategic logic is sound. Stealth AXiS has completed more than 23 European procedures, but that is still an early commercial footprint across seven sites. The analyst range extends down to $85.00, below both the current price and the $85.39 near-term support level.

What to Watch

The first test is whether MDT can recover the $92.00 moving average and then break above $94.17 resistance. A drop below $85.39 support would weaken the technical setup and put the $85.00 low analyst target in focus. Investors should track completion of the MiniMed exchange offer and whether Medtronic achieves its planned separation of at least 80.1% of the business. Stealth AXiS adoption matters next: the current benchmark is more than 23 procedures across seven European sites. Management needs to sustain the roughly 7% organic growth reported after adjusting for the extra selling week and support the stated 13.7% revenue growth figure. Watch whether cardiac ablation delivers against management’s claim that it can grow about 2.5 times a market expanding roughly 15%.

Analyst Consensus

BUY

Based on 25 analyst opinions

Low Target

$85.00

Mean Target

$104.76

High Target

$121.00

Earnings and Financial Data

Sector

Healthcare

Industry

Medical Devices

Employees

95,000

Earnings & Dividends

Next Earnings

Nov 17, 2026

EPS (Trailing)

$4.06

Dividend Yield

314.0%

Payout Ratio

70.2%

Frequently Asked Questions

Is MDT a good stock to buy?

The consensus recommendation is buy based on 25 analysts. The stock also has 13.7% revenue growth, but its P/E is 22.30 and debt stands at $28.15 billion. Takeaway: analysts are positive, but MDT is not a low-valuation, low-debt stock.

What is MDT’s price target?

The analyst target is $104.76, with estimates ranging from $85.00 to $121.00. MDT currently trades at $90.52. Takeaway: the consensus target is above the current price, but analyst expectations vary widely.

Is MDT stock overvalued?

MDT trades at a P/E of 22.30 with revenue growth of 13.7%. The supplied data does not include peer valuations or historical P/E levels. Takeaway: the valuation requires continued growth to justify it.

What are MDT’s support and resistance levels?

Near-term support is $85.39, while near-term resistance is $94.17. The 20-day moving average sits between them at $92.00. Takeaway: $85.39 and $94.17 define the immediate trading range.

How strong is Medtronic’s balance sheet?

Medtronic has $8.82 billion in cash and $28.15 billion in total debt. Its market capitalization is $115.79 billion. Takeaway: MDT has substantial liquidity, but its debt load is significantly larger than its cash position.

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Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated September 19, 2026.