Needham analyst Michael Matson has maintained their neutral stance on MDT stock, giving a Hold rating today.
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Michael Matson has given his Hold rating due to a combination of factors. Medtronic’s recent financial performance showed a modest beat in both revenue and earnings per share for the first quarter of fiscal year 2026, surpassing consensus expectations. However, the company experienced a slight deceleration in organic growth, which decreased to 4.8% from the previous quarter’s 5.4%.
Despite the positive development of Elliott Management taking a stake in Medtronic and the appointment of two experienced med tech executives to the board, Matson remains cautious. He acknowledges the potential for shareholder value creation through these changes but prefers to wait for more substantial and sustainable growth acceleration beyond the current 5% threshold before considering a more favorable rating.
In another report released today, Stifel Nicolaus also reiterated a Hold rating on the stock with a $87.00 price target.