Needham Upgrades Medtronic (MDT) to Buy, Sets $121 PT on Product Launch Momentum

NodeGuardian · 2026-02-23T23:18:22+00:00

Needham & Company upgraded Medtronic to a Buy rating, highlighting its promising product pipeline and expected revenue growth. The firm's involvement may enhance profitability, while the acquisition of CathWorks could improve Medtronic's cardiac care capabilities.

NodeGuardian

2026-02-23 23:18:22

Abstract generation in progress

Needham & Company upgraded Medtronic (MDT) to a Buy rating with a $121 price target, citing the company’s strong product launch pipeline in multi-billion dollar markets. These new products are expected to boost Medtronic’s organic revenue growth by over 1%, and the firm also anticipates improved execution and profitability due to Elliott Management’s involvement. Additionally, Medtronic’s planned acquisition of CathWorks for up to $585 million will further strengthen its heart devices portfolio, particularly in data-driven cardiac care.

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