Galway, Ireland-based Medtronic plc (MDT) develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients around the globe. With a market cap of $105.6 billion, the company operates through Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit segments.

Shares of the healthcare technology giant have lagged behind the broader market over the past 52 weeks. MDT has risen marginally over this time frame, while the broader S&P 500 Index ($SPX) has gained 8.2%. However, shares of MDT are up 3.1% on a YTD basis, compared to SPX’s 4.7% decline.

Looking closer, Medtronic has also underperformed the iShares U.S. Medical Devices ETF’s (IHI) 8% rise over the past 52 weeks.

Medtronic stock fell 7.3% following the release of its mixed Q3 2025 results on Feb. 18. Quarterly revenue rose 2.5% year-over-year to $8.3 billion, driven by solid growth across the Cardiovascular Portfolio, Neuroscience Portfolio, and Diabetes segments. The company reported adjusted EPS of $1.39, up 7% from the prior-year quarter, surpassing analysts’ estimate of $1.36. Looking ahead to fiscal 2025, MDT expects adjusted EPS to range between $5.44 and $5.50. 

In addition, Medtronic shares gained 2.5% on Mar. 31 after the company's positive five-year trial results showed its TAVR device, Evolut, delivered valve performance comparable to surgery, with a trend toward reduced cardiovascular mortality. The company highlighted the durable outcomes as a strong endorsement of the device’s long-term effectiveness.

For the fiscal year, which ended in April 2025, analysts expect MDT's adjusted EPS to increase nearly 5% year-over-year to $5.46. The company's earnings surprise history is strong.  It beat the consensus estimates in the last four quarters.  

Among the 28 analysts covering the stock, the consensus rating is a “Moderate Buy.” That’s based on 11 “Strong Buy” ratings, one “Moderate Buy,” 14 “Holds,” and two “Strong Sells.”

This configuration is slightly more bullish than three months ago, with 10 “Strong Buy” ratings on the stock.

On Apr. 11, Truist lowered MDT's price target to $90 while maintaining a “Hold” rating.

As of writing, Medtronic is trading below the mean price target of $95.30. The Street-high target of $109 suggests a staggering 32.4% upside potential.