Medtronic (MDT) Stock Forecast & Price Target

$86.21 +1.47 (+1.73%)

(As of 11/22/2024 ET)

Medtronic - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Hold

Based on 17 Analyst Ratings

Sell
1

Hold
9

Buy
7

Based on 17 Wall Street analysts who have issued ratings for Medtronic in the last 12 months, the stock has a consensus rating of "Hold." Out of the 17 analysts, 1 has given a sell rating, 9 have given a hold rating, 6 have given a buy rating, and 1 has given a strong buy rating for MDT.

Consensus Price Target

$95.00
10.20% Upside

According to the 17 analysts' twelve-month price targets for Medtronic, the average price target is $95.00. The highest price target for MDT is $105.00, while the lowest price target for MDT is $83.00. The average price target represents a forecasted upside of 10.20% from the current price of $86.21.

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MDT Analyst Ratings Over Time

Type	Current Forecast 11/25/23 to 11/24/24	1 Month Ago 10/26/23 to 10/25/24	3 Months Ago 8/27/23 to 8/26/24	1 Year Ago 11/25/22 to 11/25/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	6 Buy rating(s)	4 Buy rating(s)	6 Buy rating(s)
Hold	9 Hold rating(s)	8 Hold rating(s)	9 Hold rating(s)	4 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$95.00	$95.36	$92.92	$92.69
Forecasted Upside	10.20% Upside	5.26% Upside	4.01% Upside	17.38% Upside
Consensus Rating	Hold	Hold	Hold	Hold

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MDT Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

MDT Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Medtronic Stock vs. The Competition

Type	Medtronic	Medical Companies	S&P 500
Consensus Rating Score	2.41	2.80	2.50
Consensus Rating	Hold	Moderate Buy	Moderate Buy
Predicted Upside	10.20% Upside	27,073.48% Upside	7.66% Upside
News Sentiment Rating	Positive News See Recent MDT News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/20/2024	Sanford C. Bernstein 3 of 5 stars		Boost Target	Outperform ➝ Outperform	$96.00 ➝ $97.00	+15.68%
11/20/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$106.00 ➝ $98.00	+13.95%
11/20/2024	Robert W. Baird 2 of 5 stars		Lower Target	Neutral ➝ Neutral	$96.00 ➝ $93.00	+9.40%
11/18/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
11/15/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$99.00 ➝ $96.00	+9.84%
10/14/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$90.00 ➝ $93.00	+4.18%
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10/10/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Singh Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Sector Perform ➝ Outperform	$98.00 ➝ $105.00	+18.85%
10/1/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$85.00 ➝ $92.00	+2.76%
10/1/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$100.00 ➝ $104.00	+16.16%
8/23/2024	Daiwa America Subscribe to MarketBeat All Access for the recommendation accuracy rating	R. Department Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
8/22/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$104.00 ➝ $105.00	+19.09%
8/21/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$85.00 ➝ $90.00	+4.41%
8/21/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$85.00 ➝ $87.00	+1.90%
8/21/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Perform ➝ Market Perform	$92.00 ➝ $94.00	+10.10%
8/15/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Antalffy Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Sell ➝ Neutral	$76.00 ➝ $90.00	+10.12%
5/30/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Sell	$83.00	+1.84%
2/21/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$95.00 ➝ $98.00	+14.71%
11/22/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$104.00 ➝ $98.00	+24.68%
6/30/2023	22nd Century Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Initiates
6/30/2023	CL King Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$106.00	+22.16%
2/22/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$80.00 ➝ $87.00	+1.12%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 12:57 AM ET.

Should I Buy Medtronic Stock? MDT Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, October 31, 2024. Please send any questions or comments about these Medtronic pros and cons to contact@marketbeat.com.

Medtronic
Bull Case

Here are some ways that investors could benefit from investing in Medtronic plc:

Medtronic plc has consistently shown strong financial performance, with a solid return on equity of 13.68% and a healthy net margin of 12.06%, indicating efficient operations and profitability.
Recent analyst ratings have been positive, with multiple firms upgrading their outlook on Medtronic plc, including a "strong-buy" rating, which could indicate growing confidence in the company's future prospects.
Medtronic plc has a stable dividend payout, offering investors a dividend yield of 3.13%, providing a source of income in addition to potential capital appreciation.
The company's stock price has been trading consistently higher, showing a positive trend with a 12-month high of $91.49, which could signal investor confidence and potential for further growth.
Medtronic plc's diverse portfolio of device-based medical therapies caters to a global market, offering resilience against regional economic fluctuations and potential for sustained revenue streams.

Medtronic
Bear Case

Investors should be bearish about investing in Medtronic plc for these reasons:

Despite positive analyst ratings, there is a notable number of hold ratings on Medtronic plc, indicating uncertainty or caution among some analysts about the company's future performance.
The company's current P/E ratio of 32.48 and P/E/G ratio of 2.56 suggest that the stock may be trading at a premium compared to industry peers, potentially limiting immediate upside potential for investors.
Medtronic plc's debt-to-equity ratio of 0.55 may raise concerns about the company's leverage and financial risk, which could impact future growth and shareholder returns.
While the company has a strong market capitalization of $114.53 billion, there may be challenges in sustaining high growth rates due to the size and maturity of the business, potentially limiting short-term stock price appreciation.
Investors should consider the competitive landscape in the medical technology sector, as increasing competition and technological advancements could impact Medtronic plc's market share and profitability in the long run.

MDT Forecast - Frequently Asked Questions

: According to the research reports of 17 Wall Street equities research analysts, the average twelve-month stock price forecast for Medtronic is $95.00, with a high forecast of $105.00 and a low forecast of $83.00.
: 17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Medtronic in the last year. There is currently 1 sell rating, 9 hold ratings, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" MDT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MDT, but not buy additional shares or sell existing shares.
: According to analysts, Medtronic's stock has a predicted upside of 10.20% based on their 12-month stock forecasts.
: Over the previous 90 days, Medtronic's stock had 1 upgrade by analysts.
: Medtronic has been rated by research analysts at Citigroup, Evercore ISI, JPMorgan Chase & Co., Needham & Company LLC, Robert W. Baird, Royal Bank of Canada, Sanford C. Bernstein, Truist Financial, and Wells Fargo & Company in the past 90 days.
: Analysts like Medtronic less than other "medical" companies. The consensus rating for Medtronic is Hold while the average consensus rating for "medical" companies is Moderate Buy. Learn more on how MDT compares to other companies.

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This page (NYSE:MDT) was last updated on 11/24/2024 by MarketBeat.com Staff

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Medtronic (MDT) Stock Forecast & Price Target