Citigroup Cuts Medtronic (NYSE:MDT) Price Target to $110.00

10 Apr 2026, 07:50 by Sarita Garza · The Markets Daily

Medtronic (NYSE:MDT – Free Report) had its price objective lowered by Citigroup from $117.00 to $110.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the medical technology company’s stock.

MDT has been the subject of several other research reports. Argus reduced their price objective on shares of Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Monday. Mizuho raised shares of Medtronic to a “strong-buy” rating in a research report on Wednesday, February 18th. Wells Fargo & Company initiated coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Finally, Sanford C. Bernstein raised their price objective on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.10.

Read Our Latest Analysis on MDT

Medtronic Stock Performance

NYSE:MDT opened at $87.93 on Tuesday. The company has a market capitalization of $112.90 billion, a PE ratio of 24.49, a P/E/G ratio of 2.30 and a beta of 0.75. The company has a 50 day simple moving average of $93.39 and a two-hundred day simple moving average of $96.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic has a fifty-two week low of $79.93 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT – Get Free Report) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts anticipate that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently modified their holdings of MDT. Artisan Partners Limited Partnership lifted its stake in Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares in the last quarter. SageView Advisory Group LLC lifted its stake in Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares in the last quarter. CSM Advisors LLC lifted its stake in Medtronic by 13.2% during the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after acquiring an additional 33,167 shares in the last quarter. UMB Bank n.a. lifted its stake in Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after acquiring an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC bought a new position in Medtronic during the 3rd quarter valued at $1,308,000. 82.06% of the stock is currently owned by institutional investors.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

Positive Sentiment: FDA clearance for Stealth AXiS expands Medtronic’s addressable market beyond spine into cranial and ENT robotic-assisted surgery, supporting upside to robotics/OR growth expectations. Assessing Medtronic (MDT) Valuation After Stealth AXiS FDA Clearance
Positive Sentiment: Recent sessions saw MDT outperform the broader market on positive sentiment and technical momentum, reflecting investor interest after earnings and product news. Medtronic (MDT) Beats Stock Market Upswing
Positive Sentiment: Sector research points to multi-year growth in anesthesia & respiratory devices — an addressable market where Medtronic is a named leader, supporting medium-term revenue tailwinds. Global Anesthesia and Respiratory Devices Market Size/Share
Neutral Sentiment: Industry board moves and small-cap clinical awards (Telix, Frontier Bio, Circa) are market noise for MDT—important for sector context but unlikely to materially move Medtronic shares on their own. Telix Strengthens Board Frontier Bio Wins ‘Best Paper’ CIRCA Board Appointment
Negative Sentiment: Evercore trimmed its price target to $108, reducing near-term upside expectations and contributing to selling pressure. Evercore Cuts Medtronic Price Target to $108
Negative Sentiment: Stifel cut its price target to $95, adding downward pressure by lowering analyst support levels investors use for benchmarking. Stifel Cuts Medtronic Price Target to $95
Negative Sentiment: Citigroup published a pessimistic forecast for MDT, which likely amplified intraday selling and outweighed some of the positive product and sector news. Citigroup Issues Pessimistic Forecast for Medtronic

About Medtronic

(Get Free Report)

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).