Analyst Josh Jennings of TD Cowen maintained a Buy rating on Medtronic (MDT – Research Report), retaining the price target of $95.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Medtronic’s ability to exceed earnings expectations despite a slight miss in revenue targets. The company posted a non-GAAP EPS that surpassed both the Street’s estimate and its own guidance range, signaling strong profitability management.
Moreover, Medtronic’s performance in key segments such as Cardiovascular and Diabetes demonstrated robust growth, with the Diabetes segment notably outpacing market assumptions. The reaffirmation of its guidance for organic revenue and EPS growth, alongside expectations for accelerating growth in the upcoming quarters, further supports the positive outlook on the stock.
Jennings covers the Healthcare sector, focusing on stocks such as Edwards Lifesciences, Stereotaxis, and Vericel. According to TipRanks, Jennings has an average return of 8.3% and a 54.33% success rate on recommended stocks.
In another report released on February 12, Barclays also reiterated a Buy rating on the stock with a $109.00 price target.