Conviction: Medium
Status: Watching — RSI 36.3 (stale from 02/23), price $98.61, approaching entry zone
Data note: OHLC data last updated 2026-02-23.
Quick Snapshot
| Signal |
Reading |
| Overall |
🟡 RSI 36.3 (stale — 02/23) — approaching oversold. Price $98.61, -2.0% 30D. SMA20 $100.61. Alert at $92 active. |
| Moat |
Moderate-Wide — scale and switching costs, but execution has lagged peers |
| Key insight |
MDT data is stale (15+ days since 02/23). RSI at 36.3 is above the 30-35 entry trigger. Price at $98.61 is above the $88-94 entry zone. No action until fresh data confirms approach to entry zone. PFA franchise growth and MiniMed spinoff are key catalysts. |
Action Matrix
| Action |
Level |
Why |
| Current |
🔍 Watch |
RSI 36.3, price above entry zone. Alert at $92. Data stale 15+ days. |
| Entry Zone |
$88 - $94 |
~10-15% pullback from stale $98.61 |
| Stop-Loss |
$79 (-20%) |
Below 52-week low ($79.55) |
| Target 1 |
$108 (+10%) |
Analyst consensus zone |
| Target 2 |
$117 (+19%) |
All-time high recovery |
Price Data
| Stock |
Price |
1D |
7D |
30D |
3M |
52wkHi |
RSI |
Status |
Action |
| MDT |
$98.61 |
+1.8% |
-0.9% |
-2.0% |
— |
-6.5% |
36 |
🟡 Approaching Oversold |
🔍 Watch |
Note: Data last updated 2026-02-23.
Company Overview
One-Liner
Medtronic is the world's largest standalone medical device company — $34B/year spanning heart rhythm management, surgical robotics, spinal implants, neurostimulation, and diabetes technology.
Key Segments (Q3 FY2026)
| Segment |
Q3 Revenue |
Q3 Organic Growth |
Key Products |
| Cardiovascular |
$3.457B |
+10.6% |
PFA/Affera system, TAVR, cardiac monitoring |
| Neuroscience |
$2.558B |
+2.5% |
Spinal fusion, neuro-stimulation |
| Medical Surgical |
$2.173B |
+2.7% |
Hugo surgical robot, endoscopy |
| Diabetes |
$796M |
+8.3% |
MiniMed CGM, insulin pumps (spinning off mid-2026) |
Bull Case
| Argument |
Evidence |
Conviction |
| PFA is a multi-year growth driver |
Cardiac Ablation +80% global, +137% US |
🟢 High |
| MiniMed spinoff unlocks value |
Removes GLP-1 narrative; 100+ bps margin uplift |
🟢 High |
| Hugo FDA clearance |
Just cleared for urologic procedures Feb 2026 |
🟡 Medium |
| Dividend aristocrat |
48 years of increases, ~2.9% yield |
🟢 High |
| Cheapest large-cap medtech |
P/E ~26x forward vs BSX 57x, SYK 35x |
🟢 Medium-High |
Bear Case
| Argument |
Evidence |
Risk Level |
| 10-year underperformance |
Still 16% below Sept 2021 ATH |
🟠 Real |
| Hugo is years from revenue |
ISRG has 10,763+ systems vs Hugo just cleared |
🟠 Real |
| Spine is structural drag |
Mature, price-deflationary market |
🟡 Medium |
Entry Strategy
| Strategy |
Details |
| Current |
Watch — data stale, RSI above entry trigger |
| Alert |
$92 — entry zone bottom |
| Entry zone |
$88 - $94 |
| RSI target |
RSI < 35 with price in $88-94 zone |
| Stop |
$79 (-20%) |
Research Log
| Date |
Update |
| 2026-02-22 |
Created deep dive. Price ~$97.58. RSI ~58. Q3 FY26 strongest growth in 10 quarters. |
| 2026-02-26 |
Fresh OHLC. Price $98.61. RSI 36.3. Getting closer to entry zone. |
| 2026-03-03 |
OHLC stale (02/23). No change. Action: Watch. |
| 2026-03-10 |
OHLC still stale (02/23) — 15+ days. Action unchanged. |
The Gold
Key Discoveries
| Discovery |
Implication |
| RSI dropped from ~58 to 36.3 |
Post-Q3 enthusiasm cooling — approaching entry |
| SMA20 $100.61, price $98.61 |
Right at moving average |
| Data stale 15+ days |
Need fresh data for actionable signals |
Open Questions
- CRITICAL: Current RSI unknown
- What are Hugo US placement numbers?
- Is Affera winning majority share in new EP labs?
- What multiple will MiniMed trade at post-spinoff?
Sources
- Fundamentals figures: company-reported results (quarterly/annual filings) as available at the artifact date; predates the desk's EDGAR reconciliation gate — figures not re-verified after publication.