Medtronic (NYSE: MDT) Stock Analysis: Navigating Analyst Ratings and Future Outlook

Font: Financial Modeling Prep  • Apr 23, 2026

• Jefferies lowered its price target for Medtronic to $95.00 from $108.00, despite a "Hold" rating, suggesting limited immediate upside from the stock's price of $83.80 at the time.
• Despite Jefferies' cautious view, the broader market sentiment, as reflected by Zacks Investment Research, indicates a "Buy" rating (2.00 average recommendation), with large institutional investors like Caprock Group LLC, State Street Corp, and Bank of New York Mellon Corp increasing their holdings.
• Investors are anticipating Medtronic's upcoming earnings report on June 3, 2026, with analysts projecting a revenue increase of over 8% to $9.66 billion, but an expected decline in earnings per share to $1.58.

Medtronic (NYSE: MDT) is a global medical technology company that develops and manufactures a wide range of medical devices and therapies. Its products address conditions from heart disease to diabetes. The company operates in a competitive field, with major rivals including Johnson & Johnson, Abbott Laboratories, and Boston Scientific.

On April 23, 2026, analyst firm Jefferies restated its "Hold" rating for Medtronic. A Hold rating suggests that analysts expect the stock to perform similarly to the overall market. However, Jefferies lowered its price target for the stock to $95.00 from $108.00, when the stock price was $83.80.

A price target is an analyst's estimate of a stock's future value. While Jefferies' new target is lower, it still suggests potential growth from its price at the time. This cautious view contrasts with broader market sentiment. As highlighted by Zacks Investment Research, Medtronic has an average brokerage recommendation of 2.00, which translates to a 'Buy' rating.

This more optimistic view is shared by large institutional investors. Caprock Group LLC recently increased its holdings by 16%, now owning shares valued at approximately $7.8 million. Similarly, State Street Corp and Bank of New York Mellon Corp also increased their large positions in the company.

Investors are now watching for the company's earnings report on June 3, 2026. Analysts project revenue of $9.66 billion, an increase of over 8% from the previous year. However, they expect earnings per share of $1.58, which would be a decline of nearly 2.5%.