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Medtronic price target lowered to $105 from $120 at Argus

Argus lowered the firm’s price target on Medtronic (MDT) to $105 from $120 to reflect the company’s below-consensus FY26 EPS guide that accounts the impact of tariffs but keeps a Buy rating on the shares longer term. The firm is positive on the company’s decision to spin off its Diabetes business that will allow it to focus on its businesses – Cardiovascular, Neuroscience and Medical Surgical – that have higher margins and a combined global addressable market of nearly $100B, the analyst tells investors in a research note. Medtronic’s Hugo robotic surgical system, available in more than 30 countries worldwide, is also advancing through FDA review process, and Argus expects a U.S. launch by 2026, the firm added.

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