Medtronic (NYSE:MDT) Price Target Lowered to $100.00 at TD Cowen

Key Points

• TD Cowen cut Medtronic’s price target from $119 to $100, but kept a buy rating on the stock. The new target still implies roughly 20.7% upside from the previous close.
• Analyst sentiment remains broadly constructive: 17 analysts rate Medtronic a Buy and 10 rate it Hold, with a consensus price target of $98.17. Other firms have also recently reiterated or adjusted bullish views, though targets vary widely.
• Medtronic’s latest earnings beat expectations, with EPS of $1.55 versus $1.54 expected and revenue of $9.81 billion topping estimates. The company also maintained its fiscal 2027 guidance of 5.90–6.00 EPS.

Medtronic (NYSE:MDT - Get Free Report) had its price target decreased by equities research analysts at TD Cowen from $119.00 to $100.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the medical technology company's stock. TD Cowen's target price would indicate a potential upside of 20.74% from the company's previous close.

Several other brokerages have also recently issued reports on MDT. Needham & Company LLC reissued a "buy" rating and issued a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. Wall Street Zen lowered Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Royal Bank Of Canada reissued an "outperform" rating and issued a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd. Finally, Leerink Partners dropped their price objective on shares of Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.17.

Medtronic Stock Up 0.5%

NYSE:MDT opened at $82.82 on Friday. The firm has a market capitalization of $106.02 billion, a P/E ratio of 22.18, a PEG ratio of 2.20 and a beta of 0.56. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The company's fifty day moving average price is $79.02 and its 200-day moving average price is $88.56. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.62 billion. During the same quarter last year, the company posted $1.62 earnings per share. The firm's revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, equities research analysts anticipate that Medtronic will post 5.94 EPS for the current year.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Medtronic

A number of hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Medtronic in the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC acquired a new stake in Medtronic during the 1st quarter worth $965,922,000. Capital Research Global Investors grew its holdings in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company's stock worth $970,456,000 after buying an additional 2,658,981 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Medtronic by 2,297.7% in the fourth quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company's stock valued at $241,179,000 after buying an additional 2,406,000 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company's stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: A Seeking Alpha article argues Medtronic’s conservative fiscal 2027 guidance is “built to be beaten,” saying recent revenue growth was the strongest in a decade and that catalysts such as the MiniMed separation, tariff refunds, and payment relief could create upside. Medtronic: Guidance Built To Be Beaten - Buy
• Positive Sentiment: Citi reportedly reiterated a buy rating, adding to the bullish analyst sentiment around Medtronic’s earnings power and long-term outlook. Medtronic (MDT) Receives a Buy from Citi
• Positive Sentiment: Another article says Medtronic could be undervalued, pointing to valuation models that suggest the shares may still have room to rise despite a long stretch of weak total returns. Medtronic (MDT) Stock Could Be 6% Undervalued On Fresh Deal News
• Positive Sentiment: A separate valuation piece says Medtronic may be about 9% undervalued, reinforcing the case that the stock could benefit if results continue to exceed cautious expectations. Medtronic (MDT) Could Be 9% Undervalued On Recall News
• Neutral Sentiment: Medtronic issued a voluntary global recall of its Octopus 4 Tissue Stabilizer due to an assembly issue affecting 590 units. The recall is a negative headline, but the limited scope and voluntary nature suggest contained impact for now. Medtronic (MDT) Recalls Octopus 4 Tissue Stabilizer After Manufacturing Assembly Issue

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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