Medtronic Stock Forecast

Stock Price Forecast

The 11 analysts with 12-month price forecasts for Medtronic stock have an average target of 93, with a low estimate of 76 and a high estimate of 106. The average target predicts an increase of 14.29% from the current stock price of 81.37.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$76	$93	$92	$106
Change	-6.60%	+14.29%	+13.06%	+30.27%

Analyst Ratings

The average analyst rating for Medtronic stock from 12 stock analysts is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Dec '23	Jan '24	Feb '24	Mar '24	Apr '24	May '24
Strong Buy	3	3	3	3	3	3
Buy	5	5	5	5	5	2
Hold	4	4	4	4	4	5
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	1	2
Total	13	13	13	13	13	12

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
David Roman Goldman Sachs	Goldman Sachs	Strong Sell Initiates $83	Strong Sell	Initiates	$83	+2.00%	May 30, 2024
Larry Biegelsen Wells Fargo	Wells Fargo	Buy Maintains $102 → $105	Buy	Maintains	$102 → $105	+29.04%	May 24, 2024
Shagun Singh RBC Capital	RBC Capital	Hold Reiterates $92	Hold	Reiterates	$92	+13.06%	May 24, 2024
Matthew Taylor UBS	UBS	Strong Sell Maintains $75 → $76	Strong Sell	Maintains	$75 → $76	-6.60%	May 24, 2024
Richard Newitter Truist Securities	Truist Securities	Hold Maintains $90 → $88	Hold	Maintains	$90 → $88	+8.15%	May 24, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

32.56B

from 31.23B

4.27%

from 31.23B

Revenue Next Year

33.91B

from 32.56B

4.16%

from 32.56B

EPS This Year

5.25

from 2.82

86.11%

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	32.56B	33.91B	35.60B	37.53B	39.53B	41.19B
Revenue Growth	2.02%	-5.38%	4.16%	5.21%	-1.45%	4.27%	4.16%	4.98%	5.41%	5.33%	4.20%
EPS	3.41	3.54	2.66	3.73	2.82	5.25	5.50	5.90	6.40	6.93	7.98
EPS Growth	50.22%	3.81%	-24.86%	40.23%	-24.40%	86.11%	4.87%	7.24%	8.49%	8.15%	15.22%
No. Analysts	-	-	-	-	-	34	34	26	8	7	2

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028	2029
High	34.4B	35.8B	37.7B	39.9B	42.3B	42.8B
Avg	32.6B	33.9B	35.6B	37.5B	39.5B	41.2B
Low	31.5B	32.3B	33.8B	36.0B	37.8B	40.0B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028	2029
High	10.0%	10.1%	11.3%	12.2%	12.8%	8.3%
Avg	4.3%	4.2%	5.0%	5.4%	5.3%	4.2%
Low	0.8%	-0.9%	-0.4%	1.2%	0.8%	1.1%

EPS Forecast

EPS	2024	2025	2026	2027	2028	2029
High	5.47	5.83	6.28	6.83	7.56	8.30
Avg	5.25	5.50	5.90	6.40	6.93	7.98
Low	5.08	5.22	5.52	6.04	6.37	7.74

EPS Growth

EPS Growth	2024	2025	2026	2027	2028	2029
High	94.0%	11.0%	14.1%	15.6%	18.1%	19.8%
Avg	86.1%	4.9%	7.2%	8.5%	8.1%	15.2%
Low	80.0%	-0.5%	0.2%	2.3%	-0.5%	11.8%

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.