Medtronic

MDT · NYSE

$94.63+$1.86 (+2.00%)TodayMarket closed · Oct 20, 7:56 PM ET

Prev close $92.77

MDT analyst rating

BuyConsensus of 25 analysts over the last 12 months. 68% rate it a buy.

Strong buy0
Buy17
Hold8
Underperform0
Sell0

12-month price target · 28 analysts

Average $107.19 (+13.3% upside)

Low: $85.85
Now: $94.63
High: $127.05

Upgrades and downgrades

The latest rating actions, newest first

MDT analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 12, 2026	Maintains	Buy	$100.00 → $99.00	48%
Barclays	Oct 7, 2026	Initiates	Equal-Weight	$95.00	68%
TD Cowen	Sep 30, 2026	Maintains	Buy	$110.00	48%
UBS	Sep 3, 2026	Maintains	Buy	$100.00 → $110.00	89%
Truist Securities	Sep 2, 2026	Maintains	Hold	$86.00 → $99.00	50%
Wells Fargo	Sep 2, 2026	Maintains	Overweight	$102.00 → $104.00	54%
RBC Capital	Sep 2, 2026	Maintains	Outperform	$118.00	57%
B of A Securities	Sep 2, 2026	Maintains	Buy	$95.00 → $110.00	53%
Stifel	Sep 2, 2026	Maintains	Hold	$80.00 → $95.00	62%
Baird	Sep 2, 2026	Maintains	Neutral	$91.00 → $100.00	64%

The case for and against

Updated Oct 15, 2026

Bull case

Medtronic is positioned for sustained outperformance because F1Q27 showed broad-based execution, with revenue of $9.756B and adj. EPS of $1.45 beating estimates, while organic growth remained strong at 13.7%. The core bullish driver is Cardiac Ablation Solutions, which surged 88% worldwide and gained about 9 points of U.S. EP share, supporting the view that Affera/Sphere-9 can keep taking share in the $15.5B EP market and drive 220bps of FY27 growth. Additional upside comes from a favorable mix shift toward margin-accretive ablation catheters, potential tariff refunds, and emerging franchises such as Symplicity Spyral, Hugo RAS, and Altaviva, which broaden the company’s growth engine beyond the traditional portfolio.

Bear case

Medtronic is facing a negative setup because tariff costs remain a meaningful drag, with about $200M of net tariff expense expected in FY27, pressuring gross margin by 50 bps to 65.0% and adjusted EPS by $0.13 to $5.97. Although F1Q27 benefited from an unexpected refund, management is not embedding future refunds into guidance, while F2Q27 EPS is still guided to $1.32-$1.34, implying only modest underlying growth after tariff pressure. Beyond tariffs, the stock’s fundamentals are vulnerable to an implied F2H27 organic growth deceleration from 6.5% in F1H27 to 5.4% in F2H27, alongside risks from competition, Structural Heart weakness, Neuromodulation pressure, and regulatory or macro uncertainty.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.