Needham Remains Bullish On Medtronic (MDT) Amid Renal Device Growth

With 60 hedge funds holding bullish positions and analysts seeing 19.84% upside potential, Medtronic plc (NYSE:MDT) ranks among the top stocks to buy for financial stability.

Needham Remains Bullish On Medtronic (MDT) Amid Renal Device Growth

Medtronic plc (NYSE:MDT) drew attention last week from both a direct analyst update on its renal denervation business and a broader policy shift in the structural heart space.

On June 17, 2026, Needham reiterated a “Buy” rating and a $101.00 price target on Medtronic plc (NYSE:MDT) after reviewing progress in the company’s renal denervation business. The firm noted that Medtronic plc (NYSE:MDT)’s Symplicity Spyral Renal Denervation System received FDA approval in November 2023, with Medicare coverage beginning in October 2025. Management said during its fiscal fourth-quarter 2026 earnings call that 200 physicians across more than 300 accounts are now listed in the physician finder, while Symplicity Spyral sales are running at an annualized rate of $100 million.

Needham revised its scenario analysis and now expects the technology to contribute 0.2% to 0.9% to annual revenue growth over the next several years, compared with a prior estimate of 0.6% to 1.3%. Even so, the firm said Symplicity Spyral remains one of several drivers that could help Medtronic plc (NYSE:MDT) maintain revenue growth above 6% in the coming years.

Separately, on June 16, 2026, TD Cowen said a Centers for Medicare and Medicaid Services national coverage analysis proposed on June 15 could accelerate U.S. TAVR adoption. TD Cowen views Edwards Lifesciences as best positioned to benefit, with Medtronic plc (NYSE:MDT) and Abbott shares seeing smaller gains.

Medtronic plc (NYSE:MDT) is an Ireland-based healthcare technology company that develops and provides medical technology solutions.

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