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    Medtronic (MDT) Posts Strong Ablation Data, Is The Stock Still Undervalued?

    Simply Wall St·10/23/2026 12:33:05
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    Medtronic (MDT) is back in focus after new real world registry data on its Sphere-9 catheter and PulseSelect pulsed field ablation system showed high acute success rates and low major complication figures in atrial and ventricular arrhythmia patients.

    Recent price action suggests investors are warming to this Medtronic story, with a 90 day share price return of 16.08% and a 30 day gain of 6.41%. The 3 year total shareholder return of 51.43% points to momentum that has built over a longer stretch.

    Capitalize on Medtronic’s momentum in cardiac devices by lining up your next watchlist candidates across 36 healthcare AI stocks that are pushing data driven care and procedure efficiency.

    Medtronic’s recent climb could signal investors are reassessing the underlying cardiac portfolio rather than simply chasing a hot chart. Does the current share price fairly reflect that shift in perception or overshoot it?

    Most Popular Narrative: 16% Undervalued

    The most followed Medtronic valuation storyline pegs fair value at $115.38, above the recent $96.59 close. This suggests investors are still pricing the stock below that reference point even after the recent gains.

    The phrase "inflection point" or its equivalents have appeared in Medtronic's transcript language for several quarters. This quarter, management moved to secure the claim. Martha's closing remarks to the analyst who asked whether the "mid-single-digit revenue grower, high single-digit EPS" characterization of Medtronic still holds were: "Clearly, we have aspirations for higher growth than we've done historically... we're not satisfied with that." The framing is not a promise of specific targets; Investor Day in December is where those will be disclosed. However, it is the first time management has used analyst-facing language to explicitly distance the company from its own historical growth ceiling.

    See why 8 investors see Medtronic as 16% undervalued.

    Result: Fair Value of $115.38 (UNDERVALUED)

    Still, Medtronic’s story can fray if high profile programs like Hugo or the MiniMed separation slip on timelines, disclosure quality or investor expectations.

    Find out about the key risks to this Medtronic narrative.

    Next Steps

    Sentiment feels constructive around Medtronic, yet the real edge comes from testing the numbers yourself before the crowd settles on a story. If you want a quick snapshot of what the market currently views as positives, take a look at the 5 key rewards.

    Looking for more Medtronic sized investment ideas?

    If Medtronic has you reassessing your watchlist, use the same energy to scan fresh opportunities that match your risk profile, return goals, and time horizon.