Medtronic Stock Forecast

Stock Price Forecast

The 13 analysts with 12-month price forecasts for Medtronic stock have an average target of 96, with a low estimate of 82 and a high estimate of 106. The average target predicts an increase of 21.14% from the current stock price of 79.25.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$82	$96	$98	$106
Change	+3.47%	+21.14%	+23.66%	+33.75%

* Price targets were last updated on Feb 21, 2024.

Analyst Ratings

The average analyst rating for Medtronic stock from 13 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Nov '23	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24
Strong Buy	3	3	3	3	3	3
Buy	5	5	5	5	5	5
Hold	5	4	4	4	4	4
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	1	1
Total	14	13	13	13	13	13

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Shagun Singh RBC Capital	RBC Capital	Hold Reiterates $92	Hold	Reiterates	$92	+16.09%	Feb 21, 2024
Steven Lichtman Oppenheimer	Oppenheimer	Hold Maintains $89 → $92	Hold	Maintains	$89 → $92	+16.09%	Feb 21, 2024
Anthony Petrone Mizuho	Mizuho	Strong Buy Maintains $95 → $98	Strong Buy	Maintains	$95 → $98	+23.66%	Feb 21, 2024
Richard Newitter Truist Securities	Truist Securities	Hold Maintains $87 → $90	Hold	Maintains	$87 → $90	+13.56%	Feb 21, 2024
Shagun Singh RBC Capital	RBC Capital	Hold Maintains $82 → $92	Hold	Maintains	$82 → $92	+16.09%	Jan 12, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

32.54B

from 31.23B

4.21%

from 31.23B

Revenue Next Year

33.90B

from 32.54B

4.18%

from 32.54B

EPS This Year

5.25

from 2.82

86.10%

from 2.82

EPS Next Year

5.50

from 5.25

4.87%

from 5.25

Year	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029
Revenue	30.56B	28.91B	30.12B	31.69B	31.23B	32.54B	33.90B	35.60B	37.21B	39.11B	40.79B
Revenue Growth	2.02%	-5.38%	4.16%	5.21%	-1.45%	4.21%	4.18%	5.00%	4.53%	5.12%	4.27%
EPS	3.41	3.54	2.66	3.73	2.82	5.25	5.50	5.91	6.39	6.91	7.98
EPS Growth	50.22%	3.81%	-24.86%	40.23%	-24.40%	86.10%	4.87%	7.33%	8.18%	8.14%	15.47%
No. Analysts	-	-	-	-	-	34	34	26	7	7	2

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2024	2025	2026	2027	2028	2029
High	34.0B	35.6B	37.7B	39.0B	41.0B	42.4B
Avg	32.5B	33.9B	35.6B	37.2B	39.1B	40.8B
Low	31.5B	32.3B	33.8B	35.9B	37.8B	39.6B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028	2029
High	8.9%	9.5%	11.3%	9.5%	10.3%	8.4%
Avg	4.2%	4.2%	5.0%	4.5%	5.1%	4.3%
Low	0.8%	-0.8%	-0.4%	1.0%	1.6%	1.2%

EPS Forecast

EPS	2024	2025	2026	2027	2028	2029
High	5.47	5.81	6.28	6.83	7.56	8.30
Avg	5.25	5.50	5.91	6.39	6.91	7.98
Low	5.08	5.22	5.52	6.02	6.35	7.74

EPS Growth

EPS Growth	2024	2025	2026	2027	2028	2029
High	94.0%	10.6%	14.1%	15.5%	18.3%	20.0%
Avg	86.1%	4.9%	7.3%	8.2%	8.1%	15.5%
Low	80.0%	-0.5%	0.3%	1.9%	-0.6%	12.0%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.