These Analysts Increase Their Forecasts On Medtronic After Strong Q2 Earnings

Core Insights - Medtronic reported strong second-quarter 2026 results with sales of $8.96 billion, exceeding the consensus estimate of $8.87 billion, representing a 6.6% year-over-year increase and 5.5% organic growth [1] - Adjusted earnings per share were $1.36, surpassing expectations of $1.31, indicating robust procedure volumes and effective execution across the business [1] - The company raised its fiscal year 2026 organic revenue growth guidance to 5.5% from 5% and adjusted earnings guidance to $5.62-$5.66 per share, compared to the previous $5.60-$5.66 [2] Financial Performance - Sales reached $8.96 billion, a 6.6% increase year-over-year with organic growth of 5.5% [1] - Adjusted earnings per share of $1.36 exceeded expectations of $1.31 [1] - Fiscal year 2026 guidance includes a potential tariff impact of approximately $185 million, unchanged from prior guidance, with diluted adjusted earnings per share growth of approximately 4.5% when excluding tariffs [2] Analyst Ratings and Price Targets - Goldman Sachs upgraded Medtronic from Sell to Neutral, raising the price target from $81 to $111 [5] - Baird maintained a Neutral rating and increased the price target from $103 to $109 [5] - Wells Fargo maintained an Overweight rating, raising the price target from $100 to $114 [5] - UBS maintained a Neutral rating and raised the price target from $95 to $102 [5] - RBC Capital maintained an Outperform rating, increasing the price target from $111 to $118 [5] - Morgan Stanley maintained an Overweight rating, raising the price target from $107 to $117 [5]