Citi analyst Joanne Wuensch reiterated a Buy rating on Medtronic yesterday and set a price target of $99.00.
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Joanne Wuensch’s rating is based on Medtronic’s strong financial performance and positive outlook. The company reported revenue of $8.58 billion for FY1Q26, which exceeded expectations and showed a 4.8% organic growth year-over-year. All four of Medtronic’s business segments met or surpassed expectations, contributing to this robust performance.
Furthermore, Medtronic’s management has maintained a positive revenue growth forecast for FY26 and has raised its EPS guidance, partly due to reduced tariff headwinds. The Cardiovascular portfolio, in particular, showed impressive growth, with the Cardiac Rhythm & Heart Failure segment experiencing significant gains. These factors, along with the strategic position taken by Elliott Management, support a positive outlook for Medtronic’s stock, justifying the Buy rating.
In another report released today, Barclays also reiterated a Buy rating on the stock with a $109.00 price target.