New York, May 16, 2026, 12:01 (EDT)
- Medtronic finished Friday off 1.07% at $76.15, holding slightly above its 52-week low of $74.40.
- The NYSE is closed for the weekend. The next equity session opens Monday at 9:30 a.m. ET.
- Investors are waiting for Medtronic’s fiscal Q4 and full-year earnings due out June 3.
Medtronic plc shares fell on Friday, tracking Wall Street’s pullback. The medical-device company stayed near a one-year low as the stock stayed weak heading into the weekend.
Shares dropped 82 cents, or 1.07%, to end at $76.15 on the NYSE. The stock traded between $75.85 and $77.38. Medtronic’s investor site showed a 52-week range from $74.40 to $106.33, so the close stayed just above the bottom of that range. The 52-week low is the lowest price the shares have seen in the past year.
That’s what makes the move relevant now. The U.S. market is shut for the weekend, so the next NYSE session is Monday, with regular trading from 9:30 a.m. to 4:00 p.m. ET. No holidays until Memorial Day on May 25, based on the NYSE calendar.
Medtronic finished flat over the week, holding $76.15 at the close on both May 8 and May 15. The stock slipped as low as $74.40 intraday on Monday but ended up recovering from the dip. Volume stayed busy, with more than 9 million shares moving in several sessions.
S&P 500 closed down 1.24% Friday, Dow lost 1.07%, and Nasdaq shed 1.54%. Medtronic shares held up better than Boston Scientific, down 1.64%, but trailed Stryker, which rose 0.43%. Abbott Laboratories edged down 0.50%.
Medtronic is set to report fiscal Q4 and full-year 2026 earnings on Wednesday, June 3. Its fiscal year wrapped up April 24.
Investors looking for proof that heart-device sales still drive results will watch the numbers. Medtronic said in February its third-quarter revenue was $9.017 billion, up 8.7% as reported and 6.0% organically. Cardiac Ablation Solutions revenue jumped 80%, boosted by pulsed field ablation (PFA), which uses short bursts of electricity for some heart rhythm problems.
CEO Geoff Martha called it “another strong quarter” after Q3, citing 6% organic growth and the product lineup. The comment is old, but it’s still the last detailed earnings update investors have ahead of June’s results. Medtronic News
Medtronic topped quarterly forecasts in February but the stock dropped after the company kept its full-year adjusted profit outlook the same. CFO Thierry Pieton told Reuters that tax costs would cap some profit gains. The company is forecasting a tariff hit of about $300 million in fiscal 2027, compared with around $185 million in fiscal 2026.
Analysts have turned more cautious on the stock. In April, Jefferies’ Matthew Taylor dropped his Medtronic price target to $95 from $108, sticking with a Hold rating. Investing.com pointed to MiniMed IPO timing, extra expenses, and weaker medtech multiples. UBS and Stifel also trimmed their targets and kept neutral or Hold ratings, according to the same report.
MiniMed is still in the mix. Medtronic’s diabetes business priced its U.S. IPO below the marketed range in March, pulling in $560 million, according to Reuters. Shares opened on Nasdaq below the IPO price, which valued the spinout lower than expected. The deal gave Medtronic a simpler portfolio, but investors questioned the timing and valuation.
Short-term outlook for the stock stays cautious. As long as shares hold $74.40, Friday’s drop looks like a support test. A close under $74.40 would put in a new one-year low and probably give sellers the edge. A move over Friday’s $77.38 high would be an early signal that buyers are showing up ahead of the June 3 results.
