Needham Rates Medtronic (MDT) buy, $101 Price Target

On June 17, 2026, Needham reiterated its buy rating on Medtronic plc (NYSE:MDT), setting a price target of $101. The analyst, Mike Matson, suggests a positive outlook for the medical device company as its shares currently trade around $80.38.

Other Institutional Activity in Medtronic

BlackRock, Inc. reduced its holdings in Medtronic by 7.35 million shares, ending with 113.18 million shares valued at about $9.81 billion. Vanguard Capital Management LLC took a new position, acquiring 83.33 million shares worth approximately $7.22 billion. State Street Corp added 80,856 shares, bringing its total to 61.74 million shares valued at $5.39 billion. Meanwhile, JPMorgan Chase & Co cut its stake by 2.64 million shares, holding 50.97 million shares valued at $4.37 billion.

Medtronic plc Stock Down 17.0%

Medtronic shares are trading near $80.38. The company boasts a market capitalization of approximately $104.4 billion and a P/E ratio of 21.57. Its beta is relatively low at 0.597, indicating less volatility compared to the broader market. The stock's 52-week range spans from $73.31 to $106.33, with a 50-day moving average of $80.49 and a 200-day moving average of $92.06. Medtronic's debt-to-equity ratio stands at 57.06.

Recent Earnings

Medtronic reported revenue of $36.36 billion with a growth rate of 9.9%. The company achieved a net margin of 13.2% and a return on equity of 9.93%. The next earnings report is scheduled for August 18, 2026.

Dividend

Medtronic offers an annual dividend rate of $2.88, yielding 3.54%. The dividend payout ratio is 76.14%, reflecting the portion of earnings distributed as dividends.

Insider Buying and Selling at Medtronic plc

In early June 2026, several Medtronic insiders sold shares. CEO Geoffrey Martha sold 41,936 shares on June 4, while EVP Harry Skip Kiil sold 6,817 shares on the same day. EVP and President Cardiovascular, Harry Skip Kiil, also sold 4,189 shares on June 8. These transactions were not part of any planned sales.

Analysts Set New Price Targets

On June 17, 2026, Needham reiterated its buy rating with a $101 price target. Other analysts have also weighed in: Goldman Sachs maintained a hold rating with an $83 target on June 5, while Bernstein kept a buy rating with a $97 target. RBC Capital reiterated a buy rating with a $118 target on June 4.

About Medtronic

Medtronic plc is a leading medical device company based in Galway, Ireland. It develops and manufactures a wide range of device-based therapies for cardiovascular, neuroscience, medical-surgical, and diabetes care. Founded in 1949, the company employs around 95,000 people worldwide and is led by CEO Geoffrey Straub Martha.

Bottom Line

Needham's reaffirmation of its buy rating and $101 target for Medtronic signals continued confidence in the company's prospects. Investors often follow such analyst updates closely, though it's important to remember that these ratings are based on past performance and projections. As always, actual results may vary.