Medtronic (MDT) Maintains Hold Rating from Needham Analyst Michael Matson

Needham analyst Michael Matson has reaffirmed a Hold rating on Medtronic (MDT). The analyst's average return is -6.3%, and success rate is 38.55%. The consensus on MDT is Moderate Buy with an average price target of $97.41. MDT's market cap is $117.9B and has a P/E ratio of 25.45.

Needham analyst Michael Matson has reaffirmed a Hold rating on Medtronic (MDT), citing a cautious outlook on the company's organic growth prospects. The analyst's average return stands at -6.3%, with a success rate of 38.55%. The consensus on MDT is a Moderate Buy, with an average price target of $97.41. The company's market capitalization is $117.9 billion, and its P/E ratio is 25.45 [3].

Medtronic, a $118 billion medical device maker, is scheduled to release its fiscal first-quarter (F1Q26) earnings on Tuesday, August 19, 2025, at 6:45 am ET, followed by an earnings webcast at 8:00 am ET. Needham expects the company to exceed consensus revenue and earnings per share (EPS) estimates for the quarter, attributing this to new product launches, healthy market growth, favorable currency movements, and conservative management guidance [1][2].

The research firm also anticipates Medtronic to raise its fiscal year 2026 revenue and EPS guidance based on first-quarter performance, favorable currency conditions, and tariff reductions or mitigation strategies. While Needham believes Medtronic is in the early stages of a strong product cycle led by its Affera PFA system, Symplicity RDN system, Simplera Sync CGM, and Hugo robot, the firm maintains its Hold rating until there are signs of meaningful and sustainable acceleration in organic growth [1][2].

In other recent news, Medtronic plc announced a quarterly cash dividend of $0.71 per ordinary share for the second quarter of fiscal year 2026, payable on October 17, 2025. The company also received CE Mark approval to expand the indications for its MiniMed 780G automated insulin delivery system across Europe, now including individuals as young as 2 years old, pregnant women, and those with type 2 insulin-requiring diabetes. Additionally, the Centers for Medicare and Medicaid Services (CMS) proposed coverage for Renal Denervation (RDN) procedures, which could increase Medicare and Medicaid patient adoption. The proposal covers both Medtronic’s radiofrequency-based RDN and Recor Medical’s ultrasound-based RDN [1][2].

Following this proposal, William Blair reiterated a Market Perform rating on Medtronic stock. The final decision from CMS is expected before October 8, 2025 [1][2].

References:
[1] https://www.investing.com/news/analyst-ratings/needham-reiterates-hold-rating-on-medtronic-stock-ahead-of-earnings-93CH-4194851
[2] https://ca.investing.com/news/analyst-ratings/needham-reiterates-hold-rating-on-medtronic-stock-ahead-of-earnings-93CH-4161911
[3] https://www.marketbeat.com/ratings/by-issuer/needham-company-llc-stock-recommendations/