Minneapolis, Minnesota-based Medtronic plc (MDT) develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. With a market cap of $119.1 billion, Medtronic operates through Cardiovascular, Medical Surgical, Neuroscience, and Diabetes segments.

Companies worth $10 billion or more are generally described as "large-cap stocks." Medtronic fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the medical devices industry. Medtronic innovates solutions that treat 70-plus health conditions, from Parkinson's to diabetes.

MDT touched its three-year high of $96.25 on Mar. 10, and the stock is currently trading 3% below that peak. Meanwhile, MDT stock prices have soared 11.5% over the past three months, notably outperforming the Health Care Select Sector SPDR Fund’s (XLV) 3.7% uptick during the same time frame.

Medtronic has outperformed the broader healthcare sector over the longer term as well. MDT stock prices have surged 16.8% on a YTD basis and gained 5.4% over the past 52 weeks, outpacing XLV’s marginal dip in 2025 and 12.5% plunge over the past year.

To confirm the recent bullish trend, MDT has traded mostly above its 50-day moving average since early June and above its 200-day moving average since early July.

Despite reporting better-than-expected results, Medtronic’s stock prices declined 3.1% following the release of its Q1 results on Aug. 19. All its segments and geographies observed solid organic growth during the quarter. The company’s overall topline for the quarter came in at $8.5 billion, up 6.7% year-over-year, notably above the Street expectations.

Meanwhile, Medtronic experienced a slight contraction in gross margin, leading to a much more modest 2.4% growth in EPS to $1.26. However, the figure surpassed the consensus estimates by 2.4%. Following the initial dip, MDT stock prices gained 3.7% in the subsequent trading session.

When compared to its peer, MDT has outpaced Stryker Corporation’s (SYK) 8.3% gains on a YTD basis, but lagged behind SYK’s 8.2% returns over the past year.

Among the 31 analysts covering the MDT stock, the overall consensus rating is a “Moderate Buy.” Its mean price target of $97.92 suggests a 4.9% upside potential.