These Analysts Increase Their Forecasts On Medtronic After Strong Q2 Earnings

Author: Avi Kapoor | November 19, 2025 02:08pm

Medtronic Plc (NYSE:MDT) on Tuesday reported strong second-quarter 2026 results.

The company’s sales reached $8.96 billion, surpassing the consensus estimate of $8.87 billion. This marks a 6.6% increase year-over-year, with organic growth of 5.5%. Adjusted earnings of $1.36 per share also beat expectations of $1.31.

"…Overall, procedure volumes and our end markets are robust, and we're executing well across the business," said Geoff Martha, Medtronic chairman and CEO.

Medtronic raised its fiscal year 2026 organic revenue growth guidance to 5.5% from 5%. The medical devices giant raised adjusted earnings for fiscal 2026 to $5.62-$5.66 per share, versus the prior $5.60-$5.66, and the consensus of $5.63.

The guidance includes a potential impact from tariffs of approximately $185 million, unchanged from the prior guidance. Excluding the potential impact from tariffs, the guidance represents fiscal 2026 diluted adjusted earnings per share growth of approximately 4.5%.

Medtronic shares fell 0.1% to trade at $100.78 on Wednesday.

These analysts made changes to their price targets on Medtronic following earnings announcement.

• Goldman Sachs analyst David Roman upgraded Medtronic from Sell to Neutral and raised the price target from $81 to $111.
• Baird analyst David Rescott maintained the stock with a Neutral and raised the price target from $103 to $109.
• Wells Fargo analyst Larry Biegelsen maintained the stock with an Overweight rating and raised the price target from $100 to $114.
• UBS analyst Danielle Antalffy maintained Medtronic with a Neutral and raised the price target from $95 to $102.
• RBC Capital analyst Shagun Singh maintained the stock with an Outperform rating and raised the price target from $111 to $118.
• Morgan Stanley analyst Cecilia Furlong maintained Medtronic with an Overweight rating and raised the price target from $107 to $117.

Considering buying MDT stock? Here’s what analysts think:

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Posted In: MDT