Medtronic (MDT) Stock News

Medtronic MiniMed exchange offer oversubscribed, proration factor ~18.3%.

BTIG reduced its price target for Medtronic from $100.00 to $99.00.

Medtronic announced the final exchange ratio of 4.5939 MiniMed shares per Medtronic share for its split-off. The offer expires Oct. 9. If oversubscribed, Medtronic will exchange its full remaining MiniMed stake.

Barclays started coverage on Medtronic with an Equal-Weight rating, signaling a neutral view on the medical-device company.

Barclays started Medtronic (MDT) at Equal Weight with a $95 price target. The rating implies a neutral view on the medtech company's risk/reward at current levels.

Medtronic announced AMA approval of Category I CPT codes for its Altaviva tibial neuromodulation device and Symplicity Spyral renal denervation system, effective January 2028. The codes replace existing Category III codes and support physician payment and payer coverage decisions. Altaviva was FDA-approved in September 2025 for urge urinary incontinence; Symplicity Spyral received Medicare coverage in October 2025 for uncontrolled hypertension.

Medtronic reported Q1 FY27 adjusted EPS of $1.45 on revenue of $9.76B, both above consensus. The company raised its full-year adjusted EPS guidance to $5.94-$6.00 and organic growth outlook to 7.25%-7.75%. It also announced a ~$700M partnership with Cornerstone Robotics for surgical robots.