What factors contributed to Medtronic's stock surge?

Medtronic's stock surged due to a series of price target increases by analysts, who praised the company's strong Q1 2026 results and its cardiac ablation solutions unit.

How did Medtronic's Q1 2026 performance compare to analyst estimates?

Medtronic's Q1 2026 revenue grew 8% to nearly $8.6 billion, and its non-GAAP adjusted net income improved by 2% to over $1.6 billion, both beating the consensus analyst estimates.

Which analysts were particularly bullish on Medtronic's prospects?

Analysts from financial industry heavyweights like Wells Fargo, J.P. Morgan, and UBS raised their price targets for Medtronic and maintained their positive recommendations on the stock.

Home / Business and Economy / Medtronic Shares Soar on Analyst Price Target Hikes

Medtronic Shares Soar on Analyst Price Target Hikes

22 Aug

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Summary

Medtronic's stock rises 4% despite S&P 500 drop
7 analysts increase price targets for the medical device company
Analysts praise Medtronic's cardiac ablation solutions unit

Medtronic Shares Soar on Analyst Price Target Hikes

On Wednesday, August 22nd, 2025, Medtronic's (NYSE: MDT) stock saw a healthy 4% rise, outperforming the S&P 500's 0.2% decline. This jump was driven by a series of price target increases from analysts following the company's strong first-quarter fiscal 2026 results.

Medtronic reported 8% revenue growth to nearly $8.6 billion and a 2% improvement in non-GAAP adjusted net income to over $1.6 billion. While these figures beat the consensus analyst estimates, the market reaction on Tuesday was relatively muted, with many investors trading out of the stock.

However, the tide turned on Wednesday as seven analysts tracking Medtronic raised their price targets. These analysts, from financial industry heavyweights like Wells Fargo, J.P. Morgan, and UBS, sounded bullish notes on the company's prospects. Leerink Partners' Mike Kratky, for instance, maintained his "outperform" (buy) recommendation and increased his price target by $1 to $111, praising Medtronic's cardiac ablation solutions unit.

The analyst also noted some weakness in Medtronic's domestic sales, but the overall sentiment remained positive. With these analyst upgrades, Medtronic's stock has now emerged as an attractive investment option for investors looking to capitalize on the medical device industry's growth.

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