BTIG Cuts Medtronic (MDT) Price Target to $99
BTIG has reiterated its Buy rating on Medtronic, lowering its price target to $99.0, a 4.81% upside from the current price.
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BTIG cut its price target on Medtronic plc ($MDT) to $99 from $100 on October 12, 2026, and rates the stock "Buy".
Since the rating, $MDT is up 3.1% to date (from the $91.93 close on Oct 12, 2026).
MDT
Medtronic plc
Key Points
- On October 12, 2026, BTIG reiterated its Buy rating on Medtronic plc, reducing its price target from $100.0 to $99.0.
- BTIG's $99 price target implies 4.81% upside from Medtronic plc's ($MDT) current $94.46 share price.
- As of October 16, 2026, Medtronic shares traded around $94.46, which is about 4.6% below BTIG's new target.
- Medtronic's next earnings report is scheduled for November 17, 2026, following a year-over-year revenue growth of 13.7%.
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BTIG has reiterated its Buy rating on Medtronic plc (NYSE: MDT) on October 12, 2026, while lowering its price target from $100.0 to $99.0. This move reflects a slight adjustment in BTIG's outlook for the medical device company, which develops and sells device-based medical therapies globally.
Other Institutional Activity in Medtronic
Several other institutional investors have also been active with Medtronic. Blackrock Inc. holds 114,020,787 shares worth about $10.8 billion after increasing its stake by 837,556 shares. Vanguard Capital Management LLC owns 83,816,735 shares valued at approximately $7.9 billion, having added 483,334 shares. State Street Corporation increased its holdings by 1,660,767 shares, bringing its total to 63,399,315 shares worth about $6.0 billion. Additionally, Vanguard Portfolio Management LLC holds 34,059,967 shares valued at around $3.2 billion after adding 608,811 shares.
Medtronic plc Stock Down 1.0%
As of October 16, 2026, Medtronic shares traded at $94.46, about 4.6% below BTIG's new price target of $99.0. The stock's performance is notable as it approaches its 52-week high, reflecting investor interest in the company's growth potential.
$MDT price target
Medtronic plc daily closes and this analyst's $99 target. Not advice.
Recent Earnings
Medtronic reported trailing twelve-month revenue of approximately $37.5 billion, with a net margin of 13.9%. The company has achieved a return on equity of 10.6%. Its next earnings report is due on November 17, 2026.
Insider Buying and Selling at Medtronic plc
Recent insider transactions include Harry Skip Kiil, an officer, who sold 4,189 shares on June 8, 2026, valued at approximately $336,965. Another officer, Matthew R. Walter, sold 3,102 shares on July 8, 2026, for about $257,931, and Kiil sold 1,483 shares on September 16, 2026, valued at approximately $138,883.
Analysts Set New Price Targets
On October 12, 2026, BTIG maintained its Buy rating on Medtronic with a price target of $99.0, down from $100.0. Earlier, on September 2, 2026, Truist Securities reiterated a Hold rating with a target of $99.0, while UBS maintained a Buy rating with a target of $110.0 on September 3, 2026.
About Medtronic
Medtronic plc, headquartered in Galway, Ireland, develops and manufactures medical devices. The company operates in three main segments: Cardiovascular, Neuroscience, and Medical Surgical. Its innovations aim to improve patient outcomes and enhance healthcare across various settings.
Bottom Line
BTIG's adjusted price target and continued Buy rating suggest a positive outlook for Medtronic, especially ahead of its upcoming earnings report on November 17, 2026. Investors should monitor the company's performance closely as it approaches this date.
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Source: BTIG's rating change on $MDT (Oct 12, 2026). Written by software, not financial advice. How we make alerts