Medtronic plcNYSE: MDT
Health Care · Health Care Equipment
$80.38
-0.73%
Vol: 5.6M
Research Digest
Friday, May 1, 2026
Medtronic receives CE mark for Stealth AXiS surgical system; UBS and Jefferies lower ratings on diabetes unit restructuring.
Medtronic secured CE mark approval for Stealth AXiS surgical system combining planning, navigation and robotics in Europe. Enrolled first patient in post-approval study of Altaviva tibial neuromodulation device. UBS lowered PT to $90 from $104 on April 22 amid diabetes unit changes. Jefferies also reduced views. Cyberattack disclosed April 24 with no identified operational impact.
Previous Market Intelligence
13 daysApr 30Medtronic receives CE mark for Stealth AXiS surgical robot; completes $585M CathWorks acquisition; UBS lowers price target to $90.Mixed▶
Medtronic announced CE mark approval for Stealth AXiS surgical robot platform following back-to-back FDA clearances for spine, cranial, and ENT procedures. Company completed $585 million acquisition of CathWorks for coronary artery disease diagnosis and treatment advancement. Reported Q3 EPS of $1.36, beating estimates of $1.33. Received FDA Breakthrough Device Designations for Sphere-9 and Sphere 360 catheters on April 26. However, UBS lowered price target to $90 from $104 citing MiniMed IPO timing and one-time expenses. Analysts maintain Buy consensus with $108.21 average target.
Apr 16Truist cuts PT to $95 from $103; Medtronic diabetes unit IPO planned; Q4 June 3Negative▶
Medtronic received FDA clearance for Stealth AXiS surgical system for cranial/ENT procedures, part of AI-enabled AiBLE ecosystem. Truist lowered PT to $95 from $103 on April 15; multiple analysts reduced targets (Mizuho, Evercore, Citi, Stifel). Company announced public offering plans for MiniMed Group diabetes unit to enhance valuation. Q4/FY2026 earnings expected June 3, with consensus EPS $1.60 and revenue $9.66B (+8.2% YoY). Dividend increased to $0.71. Stock reflects mixed sentiment despite regulatory wins.
Apr 15Medtronic lowers 2026 guidance due to MiniMed IPO charge; earnings conference set for June 3.Mixed▶
Medtronic announced on April 13 that it will report Q4 FY2026 results on June 3, 2026. The company cut its 2026 guidance to $5.50-$5.54 adjusted EPS after taking a one-time $157 million charge ($0.08 per share) related to a Blackstone Life Sciences funding agreement triggered by early FDA clearance of the MiniMed Flex pump. This represented $0.04 per share dilution from the partial MiniMed IPO. Analysts maintain a Buy consensus with a 12-month price target of $108.78 (24.73% upside). The stock traded at $86.76 as of April 13.
Apr 14FDA clears Stealth AXiS surgical system; GE HealthCare partnership announced; Q4 FY26 earnings due June 3.Positive▶
Medtronic received FDA clearance for its Stealth AXiS surgical navigation system for cranial and ENT procedures. The company partnered with GE HealthCare to integrate intraoperative ultrasound with surgical navigation. MiniMed Go Smart MDI system launched in Europe. Hugo robotic surgery system completed first commercial case at Cleveland Clinic. Q3 FY26 showed revenue of $9.017 billion (up 8.7%) and non-GAAP EPS of $1.36.
Apr 13Medtronic lowers 2026 guidance due to $0.04 EPS MiniMed charge; GE HealthCare integration adds positive momentum.Mixed▶
Medtronic cut full-year 2026 adjusted EPS guidance to $5.50-$5.54 range due to a one-time charge related to the MiniMed diabetes unit IPO in March 2026. The company completed a partial IPO of MiniMed (trading as MMED), retaining ~90% stake. On the positive side, Medtronic gained focus from GE HealthCare's digital integration with its Stealth AXiS surgical navigation platform, and is advancing Hugo robotic surgery commercialization. A $0.71 dividend is scheduled for April 17, 2026.
Apr 10Medtronic partners with GE HealthCare on surgical navigation and cuts FY2026 EPS guidance due to MiniMed IPO charge.Mixed▶
GE HealthCare and Medtronic announced commercial availability of integrated intraoperative ultrasound and Stealth AXiS surgical navigation systems on April 9 for cranial procedures. Medtronic adjusted FY2026 non-GAAP EPS guidance to $5.50-$5.54 (down $0.04 from prior), reflecting $0.08 per share dilution from the partial MiniMed IPO completed in March and a $157 million charge ($0.08 per share) from a Blackstone Life Sciences agreement. Hugo robotic surgery system commercial installations continue scaling across the U.S. following December FDA clearance.
Apr 9Medtronic completes MiniMed partial IPO and receives FDA clearance for diabetes management systemMixed▶
Medtronic completed a partial IPO of its diabetes unit MiniMed Group (trading as MMED on Nasdaq) in March 2026, with the company retaining a 90% stake. The FDA granted 510(k) clearance for Medtronic's MiniMed Go smart multiple daily injection system, the first integrated smart MDI solution combining personalized insulin dosing with continuous glucose monitoring. Medtronic adjusted FY2026 non-GAAP EPS guidance to $5.50-$5.54, reflecting a $0.04 dilution from the MiniMed IPO. The company is attempting to pivot from a dividend aristocrat to a high-growth innovation leader, with Q3 FY26 revenue of $9.017 billion marking 6.0% organic growth—the highest in ten quarters. Argus Research lowered its price target to $115 while maintaining a Buy rating.
Apr 8Argus Research lowers price target to $115 while maintaining Buy rating on MedtronicMixed▶
Argus Research lowered its price target for MDT from $125 to $115 on April 6, 2026, while maintaining a Buy rating. Wells Fargo reaffirmed its Buy rating on April 2, 2026. The company disclosed softer demand for its Micra leadless pacemaker on March 23, 2026, amid supply chain adjustments. Medtronic continues to advance its digital diabetes solutions and announced a definitive agreement to acquire Scientia Vascular for neurovascular care. The cardiovascular business, representing 38% of revenue, faces near-term challenges from device recalls and clinical trial delays, though the Evolut Pro+ valve showed positive late-stage study data.
Apr 7Medtronic receives FDA clearance for Stealth AXiS surgical system; Argus downgrades price target to $115Mixed▶
Medtronic announced FDA clearance of the Stealth AXiS surgical system for cranial and ENT procedures and received FDA approval for the OmniaSecure defibrillation lead. The company entered an exclusive distribution agreement for the ViaVerte basivertebral nerve ablation system. On April 6, Argus Research lowered its price target from $125 to $115 while maintaining its Buy rating. Medtronic trades at $86.63 with mixed analyst commentary, including Evercore ISI adjusting its target from $115 to $108. Barclays raised its target from $118 to $120.
Apr 6Medtronic gains FDA clearance for Stealth AXiS surgical system for cranial and ENT proceduresPositive▶
Medtronic secured FDA approval for the Stealth AXiS surgical system for cranial and ear, nose, and throat (ENT) procedures, building on earlier spine clearance. The system unifies surgical planning, navigation and robotics. Medtronic's diabetes unit MiniMed Group plans a public offering to enhance valuation. Wells Fargo maintained Buy rating while Piper Sandler lowered price target to $91 from $105. Strong quarterly earnings with EPS of $1.36 beating consensus.
Apr 3Medtronic receives FDA clearance for AI-enabled Stealth AXiS surgical system in cranial and ENT procedures, but lowers 2026 guidance due to MiniMed IPO-related charge.Mixed▶
Medtronic (MDT) announced FDA clearance for its AI-enabled Stealth AXiS surgical system on April 1-2, 2026, a significant milestone in AI-driven surgical innovation. However, the company lowered its 2026 earnings guidance to $5.50-$5.54 adjusted EPS due to a one-time charge related to the MiniMed Group IPO. Cardiac Ablation Solutions revenue grew approximately 71% this quarter.
Apr 2Medtronic lowers fiscal 2026 EPS guidance to $5.50-$5.54 due to $157M MiniMed Blackstone charge; FDA clears MiniMed Flex insulin pump.Mixed▶
Medtronic reduced its fiscal 2026 non-GAAP EPS guidance to $5.50-$5.54 (from $5.62-$5.66) after recording a $157 million charge in Q4 fiscal 2026 related to future Blackstone payments tied to the MiniMed Flex insulin pump's early FDA clearance on March 18, 2026. The Flex represents a discreet, smartphone-controlled next-generation insulin pump. Separately, Medtronic received FDA clearance for its Stealth AXiS surgical system for cranial and ENT procedures, expanding its AI-driven surgical platform. Barclays raised its price target to $120 (from $118), while Piper Sandler lowered to $91 (from $105).
Apr 1Medtronic received FDA clearance for Stealth AXiS surgical system for cranial and ENT procedures; cut FY26 EPS guidance to $5.50-$5.54.Mixed▶
Medtronic received FDA clearance on March 27, 2026, for the Stealth AXiS surgical system for cranial and ENT procedures. On March 24, announced distribution agreement with Merit Medical Systems for the ViaVerte basivertebral nerve ablation system. However, Medtronic cut FY26 EPS guidance to $5.50-$5.54 from $5.62-$5.66 versus consensus $5.64. Stock has declined 9.8% over 30 days, trading at $86.52 with 3.3% dividend yield. MDT is advancing its diabetes unit toward public offering.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| ISRGINTUITIVE | $458.41 | +0.17% | +1.1% | 38.8x | 1.68 | $162.1B |
| ABTABBOTT | $89.66 | -1.25% | -11.3% | 15.0x | 0.78 | $157.8B |
| SYKSTRYKER | $296.89 | -5.79% | -5.2% | 18.8x | 0.93 | $120.7B |
| MDTMEDTRONIC | $80.38 | -0.73% | -6.2% | 13.4x | 0.76 | $104.0B |
| BSXBOSTON | $56.75 | -1.50% | -8.0% | 15.3x | 0.78 | $85.6B |
| EWEDWARDS | $84.28 | +0.93% | +2.9% | 24.8x | 0.94 | $48.1B |
Key Fundamentals
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Price below 200d MA — bearish structure.