Medtronic plc (MDT) Stock Price & Analysis
Medtronic plc (MDT) closed at USD 96.59 on Thursday, October 22, 2026, up 3.83% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 93.03; the Oct 22, 2026 session ranged USD 93.12–96.62 on volume of 8,876,771 shares. Market capitalization is $123.55B, with a 52-week range of USD 73.31–106.33 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 11:22 UTC.
Also available as compact Markdown for AI agents: nexqual.com/MDT.md
Key facts (MDT)
- Last four reported quarters (through Jul 31, 2026): revenue $37.5B, net income $5.23B (13.9% margin), free cash flow $6.13B (SEC filings).
- Valuation: P/E 23.6x (avg 24.7x at the last 3 fiscal year-ends), EV/EBITDA 16.2x, net debt $19.3B.
- 7 of 80 tracked superinvestors hold MDT (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 0 new, 4 added, 3 reduced, 0 unchanged.
- Analysts: Buy (mean 2.23 on a 1–5 scale) (30 analysts), mean target USD 104.62 (range 85–121).
- Total return with dividends: 1Y +5.9% vs S&P 500 +14.9%; 5Y -7.9% vs S&P 500 +80.3%.
- Next earnings: 2026-11-17, EPS estimate USD 1.33, revenue estimate $9.48B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (MDT)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $31.7B | $31.2B | $32.4B | $33.5B | $36.4B | $37.5B |
| Gross profit | $21.5B | $20.5B | $21.1B | $21.9B | $23.6B | — |
| Operating income | $5.75B | $5.49B | $5.14B | $5.96B | $6.47B | $6.79B |
| Net income | $5.04B | $3.76B | $3.68B | $4.66B | $4.80B | $5.23B |
| EPS (diluted) | $3.73 | $2.82 | $2.76 | $3.61 | $3.73 | — |
| Free cash flow | $5.98B | $4.58B | $5.20B | $5.18B | $5.43B | $6.13B |
| Gross margin | 68.0% | 65.7% | 65.3% | 65.3% | 65.0% | — |
| Operating margin | 18.2% | 17.6% | 15.9% | 17.8% | 17.8% | 18.1% |
| Net margin | 15.9% | 12.0% | 11.4% | 13.9% | 13.2% | 13.9% |
| Revenue growth | +5.2% | -1.4% | +3.6% | +3.6% | +8.4% | — |
| Cash + short-term investments | $10.6B | $7.96B | $8.01B | $8.96B | $9.22B | — |
| Total debt | $24.1B | $24.4B | $25.0B | $28.5B | $28.0B | — |
Fiscal years end Apr. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jul 31, 2026) (MDT)
P/E 23.6x · P/S 3.3x · EV/EBITDA 16.2x · EV/Sales 3.8x · P/FCF 20.1x · P/B 2.5x · FCF yield 4.96% · Earnings yield 4.23% · Dividend yield (paid, TTM) 2.95% · Buyback yield (TTM) 0.95% · Net debt $19.3B · EV $143B
P/E at fiscal year-ends: Apr 2026 21.7x, Apr 2025 23.5x, Apr 2024 29.0x.
Superinvestors (SEC 13F-HR, Q2 2026) (MDT)
7 of 80 tracked investors hold MDT (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| David Katz | Matrix Asset Advisors | 3.03% | $36.8M | Reduced -1.6% | Q3 2026 |
| Harry Burn | Sound Shore | 2.02% | $65.6M | Added +1.6% | Q2 2026 |
| First Eagle Investment | First Eagle Investment Management | 1.80% | $1.08B | Added +37.2% | Q2 2026 |
| Richard Pzena | Pzena Investment Management | 0.72% | $246M | Reduced -0.3% | Q2 2026 |
| Dodge & Cox Funds | Dodge & Cox | 0.32% | $616M | Added +2.4% | Q2 2026 |
| Hillman Capital | Hillman Capital Management | 0.32% | $446K | Added +55.6% | Q2 2026 |
| Mairs & Power | Mairs & Power Funds | 0.26% | $28.4M | Reduced -9.6% | Q2 2026 |
Analysts (MDT)
Consensus Buy (mean 2.23 on a 1–5 scale), 30 analysts; mean target USD 104.62 (low 85, high 121).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-12 | BTIG | Target lowered | Buy | $100 → $99 |
| 2026-10-07 | Barclays | Initiated | Equal-Weight | $95 |
| 2026-09-30 | TD Cowen | Reiterated | Buy | $110 |
| 2026-09-03 | UBS | Target raised | Buy | $100 → $110 |
| 2026-09-02 | Truist Securities | Target raised | Hold | $86 → $99 |
| 2026-09-02 | Wells Fargo | Target raised | Overweight | $102 → $104 |
| 2026-09-02 | RBC Capital | Reiterated | Outperform | $118 |
| 2026-09-02 | B of A Securities | Target raised | Buy | $95 → $110 |
| 2026-09-02 | Stifel | Target raised | Hold | $80 → $95 |
| 2026-09-02 | Baird | Target raised | Neutral | $91 → $100 |
| 2026-09-01 | BTIG | Target raised | Buy | $91 → $100 |
| 2026-09-01 | Needham | Reiterated | Buy | $114 |
Total return (dividends reinvested) (MDT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +5.9% | -7.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +6.0% | -1.6% |
| Volatility (annualized) | 24.7% | 22.0% |
| Max drawdown | -28.9% (Nov 2025→Jun 2026) | -40.0% (Oct 2021→Oct 2023) |
MDT revenue by business segment (quarter ended Jul 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Reportable segment net sales | $8.88B | 91.1% | +14.1% |
| — Cardiovascular (part of Reportable segment net sales) | $3.93B | 40.3% | +19.5% |
| — Neuroscience (part of Reportable segment net sales) | $2.68B | 27.4% | +10.3% |
| — Medical Surgical (part of Reportable segment net sales) | $2.28B | 23.4% | +9.9% |
| Other Operating Segments, Including Diabetes | $872.0M | 8.9% | +15.5% |
| — Diabetes (part of Other Operating Segments, Including Diabetes) | $843.0M | 8.6% | +16.9% |
| — Other operating segment, misc (part of Other Operating Segments, Including Diabetes) | $29.0M | 0.3% | -12.1% |
| Total revenue | $9.76B | 100% | — |
MDT revenue by region (quarter ended Jul 31, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Total other countries, excluding Ireland | $9.72B | 99.6% | +13.7% |
| UNITED STATES | $4.91B | 50.3% | +16.1% |
| International | $4.85B | 49.7% | +11.4% |
| Rest of world | $4.81B | 49.3% | +11.3% |
| Ireland | $40.0M | 0.4% | +21.2% |
| Total revenue | $9.76B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
Companies that name MDT in their SEC reports
| Relationship to MDT | Company | Filing | Sentence |
|---|---|---|---|
| customer | MiniMed Group, Inc. (MMED) | 10-K Jun 29, 2026 | “The Pöhlmann 2025 meta-analysis, a systematic literature review and meta-analysis of 34 real-world studies conducted by external researchers in collaboration with Medtronic, evaluated glycemic outcomes across major AID systems.” |
| partner | MATERIALISE NV (MTLS) | 20-F Apr 23, 2026 | “In the medical market, we have entered into collaborations with DePuy Synthes Companies of Johnson & Johnson, or DePuy Synthes, and Zimmer Biomet Holdings, Inc., or Zimmer Biomet, as well as with Encore Medical, L.P. (d/b/a Enovis), or Enovis, Limacorporate Spa, or Lima, Mathys AG, or Mathys (which is now part of the same company as Enovis), Smith & Nephew Inc., or Smith & Nephew, Corin Ltd, or Corin, Medtronic In…” |
| partner | Picard Medical, Inc. (PMI) | 10-K Mar 30, 2026 | “The Company previously operated under a non-exclusive license agreement with Medtronic relating to certain valve intellectual property.” |
| partner | Orchestra BioMed Holdings, Inc. (OBIO) | 10-K Mar 12, 2026 | “We have an exclusive license and collaboration agreement with Medtronic, Inc. (an affiliate of Medtronic plc) ("Medtronic") for the development and commercialization of AVIM Therapy for the treatment of uncontrolled HTN in patients indicated for a cardiac pacemaker (as amended, the "Medtronic Agreement").” |
| partner | NeuroPace Inc (NPCE) | 10-K Mar 3, 2026 | “On July 27, 2005, we entered into a cross-license agreement, or the Cross-License, with Medtronic, Inc., or Medtronic, directed to patent families in a field of use that is generally aligned with our business interests, including direct electrical stimulation or monitoring of the brain via electrodes attached to or implanted in the head for the treatment or diagnosis of epilepsy and other disorders, or the Field.” |
| partner | Anteris Technologies Global Corp. (AVR) | 10-K Feb 26, 2026 | “On January 20, 2026, we entered into a stock purchase agreement with Covidien Group S.à r.l. ("Covidien"), a wholly owned subsidiary of Medtronic plc (together with Covidien, "Medtronic"), pursuant to which we issued and sold to Medtronic 15,652,173 shares of Common Stock at a purchase price of $5.75 per share (the "Medtronic Private Placement").” |
| partner | Edwards Lifesciences Corp (EW) | 10-K Feb 25, 2026 | “On April 12, 2023, we entered into an intellectual property agreement with Medtronic pursuant to which the parties agreed to a 15-year global covenant not to sue ("CNS") for infringement of certain patents in the structural heart space owned or controlled by each other.” |
| partner | Inspire Medical Systems, Inc. (INSP) | 10-K Feb 13, 2026 | “License Agreement with Medtronic” |
MDT company outlook (results filed Sep 1, 2026)
- “The company today raised its FY27 organic revenue growth and EPS guidance.”
- “The company raised its FY27 organic revenue growth guidance to 7.25% to 7.75%, an increase from the prior guidance of 6.75% to 7.25%.”
- “The company also raised its FY27 diluted non-GAAP EPS guidance to the new range of $5.94 to $6.00 versus the prior $5.90 to $6.00.”
Quoted word-for-word from the SEC 8-K results press release.
MDT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Oct 2026) | $1.33 | $1.35 | -1.1% | $9.48B | 25 |
| Next quarter (ends Jan 2027) | $1.42 | $1.43 | -0.5% | $9.52B | 24 |
| Current fiscal year (ends Apr 2027) | $5.98 | $5.95 | +0.5% | $38.97B | 30 |
| Next fiscal year (ends Apr 2028) | $6.41 | $6.40 | +0.0% | $40.40B | 30 |
MDT options: expected move
Options price a move of about ±7.0% (±$6.73) by Nov 20, 2026, which includes earnings on Nov 17, 2026; the earnings reaction alone is priced at about ±4.3%. Over the last 8 reports the stock moved ±4.4% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 28.5% | ±3.4% |
| Nov 6, 2026 | 14 | 22.9% | ±3.8% |
| Nov 13, 2026 | 21 | 24.5% | ±4.9% |
| Nov 20, 2026 | 28 | 30.9% | ±7.0% |
| Nov 27, 2026 | 35 | 26.7% | ±7.4% |
| Dec 4, 2026 | 42 | 27.0% | ±7.5% |
| Dec 18, 2026 | 56 | 27.7% | ±8.9% |
| Jan 15, 2027 | 84 | 25.9% | ±10.1% |
30-day implied volatility 26.6% vs 27.3% realized over the last 30 trading days. Put/call ratio (volume) 0.68. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 11:22 UTC)
| Price | USD 96.59 |
|---|---|
| Change | ▲ 3.83% (up) |
| Previous Close | USD 93.03 |
| Open | USD 93.48 |
| Day Range | USD 93.12 – 96.62 |
| 52-Week Range | USD 73.31 – 106.33 |
| Volume | 8,876,771 shares |
| Market Cap | $123.55B |
| Exchange | NYQ |
Technical Analysis (MDT)
Nexqual's technical model rates MDT "BUY" based on 5 bullish and 1 bearish signals across 127 daily candles, as of October 23, 2026 at 11:22 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 61.68 (neutral) |
| vs SMA50 | Above (USD 91.27) |
| MACD | 1.37 (positive) |
Analyst Ratings (MDT)
Wall Street analysts rate MDT "Buy" based on 30 analysts, with a mean price target of USD 104.62 (range USD 85–121), per Nexqual as of October 23, 2026 at 11:22 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 30 |
| Mean Target | USD 104.62 |
| High Target | USD 121 |
| Low Target | USD 85 |
| Buy / Hold / Sell | 20 / 10 / 0 |
Earnings (MDT)
| Next Earnings Date | 2026-11-17 |
|---|---|
| EPS Estimate | USD 1.33 |
| Revenue Estimate | $9.48B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-07-31 | USD 1.45 vs est 1.39 ▲ beat |
| 2026-04-30 | USD 1.55 vs est 1.54 ▲ beat |
| 2026-01-31 | USD 1.36 vs est 1.34 ▲ beat |
| 2025-10-31 | USD 1.36 vs est 1.31 ▲ beat |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financials & Fundamentals (MDT)
| Total Revenue | $37.54B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +13.70% |
| Gross Margin | +65.27% |
| Operating Margin | +19.33% |
| Profit Margin | +13.93% |
| ROE | +10.65% |
| Debt / Equity | 0.55 |
| Current Ratio | 2.07 |
| Total Cash | $8.82B |
| Total Debt | $28.15B |
| Free Cash Flow (last four quarters to Jul 2026, SEC 10-Q / 10-K) | $6.13B (16.3% of revenue) |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Financial Health Score (MDT)
Nexqual rates Medtronic plc's overall financial health "Solid" across five dimensions, as of October 23, 2026 at 11:22 UTC.
| Growth | Solid — Revenue +8% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 65%, operating 19% (last 12 months) |
| Balance Sheet | Strong — $8.82B cash and investments vs $28.2B debt (Jul 2026, SEC) |
| Cash Flow | Strong — FCF $6.13B (last 4 quarters to Jul 2026, SEC), 16% margin |
| Efficiency | Mixed — ROE 11%, ROA 5.1% |
Ownership (MDT)
| Insider Ownership | +0.34% |
|---|---|
| Institutional Ownership | +88.61% |
| Shares Outstanding | 1.28B |
| Float | 1.28B |
| Short % of Float | +3.13% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
Leadership (MDT)
Medtronic plc is led by Geoffrey Straub Martha, Chairman of the Board & CEO, per Nexqual as of October 23, 2026 at 11:22 UTC.
| Chairman of the Board & CEO | Geoffrey Straub Martha |
|---|---|
| Senior VP and Chief Scientific & Medical Officer | Laura Mauri M.D., M.Sc. |
| Vice President & Head of Investor Relations | Ingrid Goldberg |
| Senior Vice President of Human Resources, IT and Global Communications & Corporate Marketing | Matthew R. Walter |
| Senior VP & President of Greater China Region | Alex Gu |
Major Backers & Investors (MDT)
Notable institutional backers of Medtronic plc include JPMorgan, Bank of America Corporation, Massachusetts Financial Services Co., according to Nexqual as of October 23, 2026 at 11:22 UTC.
Active Investors
| Investor | Stake |
|---|---|
| JPMorgan | 2.17% |
| Bank of America Corporation | 1.67% |
| Massachusetts Financial Services Co. | 1.55% |
| Morgan Stanley | 1.52% |
| Fidelity | 1.3% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.21% |
| BlackRock | 8.91% |
| State Street | 4.96% |
| Geode Capital | 2.36% |
| Deutsche Bank AG | 1.44% |
Source: Nexqual, October 23, 2026 at 11:22 UTC.
From Medtronic plc's Latest SEC 10-K Filing (filed 2026-06-18)
Key Strengths & Strategy (as disclosed to the SEC)
- FDA and other regulatory bodies, both in and outside the U.S. (including the Federal Trade Commission, the Office of the Inspector General of the Department of Health and Human Services (HSS), the U.S.
- Our NURO System delivers Percutaneous Tibial Neuromodulation therapy to treat overactive bladder, (non-obtrusive) urinary retention, including the Altaviva system, and chronic fecal incontinence.
- We rely on a combination of patents, trademarks, tradenames, copyrights, trade secrets, and agreements, including non-disclosure agreements, to protect our business and proprietary technology.
- We aim to bring inventive and disruptive technology to large healthcare opportunities which enables us to better meet patient needs.
Legal & Regulatory Risks (Item 1A, quoted)
- We are subject to extensive and complex laws and governmental regulations and any adverse regulatory action may materially adversely affect our financial condition and business operations.
- Governmental regulations in the U.S. and outside the U.S. are constantly changing and may become increasingly stringent.
- Our failure to comply with laws and regulations relating to reimbursement of healthcare goods and services, or changes to such laws, coverage policies, and payment practices, may subject us to penalties and adversely impact demand, our reputation, business, results of operations, financial condition, and cash flows.
- We are substantially dependent on patent and other proprietary rights and failing to protect such rights or to be successful in litigation related to our rights or the rights of others may result in our payment of significant monetary damages and/or royalty payments, negatively impacting our ability to sell current or future products.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| SYK | Stryker Corporation | USD 307.08 | ▲ 3.19% |
| ABT | Abbott Laboratories | USD 102.51 | ▲ 1.99% |
| BSX | Boston Scientific Corporation | USD 46.01 | ▲ 3.37% |
| EW | Edwards Lifesciences Corporatio | USD 90.09 | ▲ 1.91% |
| GEHC | GE HealthCare Technologies Inc. | USD 71.42 | ▲ 3.49% |
| DXCM | DexCom, Inc. | USD 78.32 | ▼ 2.42% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 11:22 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt