Medtronic Gears Up For Q1 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Medtronic plc MDT is expected to report financial results for its first quarter of fiscal year 2024, before the opening bell on Aug. 22, 2023.

Analysts expect the company to post quarterly earnings at $1.11 per share, up from year-ago earnings of $1.13 per share. The company’s revenue might come in at $7.57 billion, compared to $7.37 billion in the year-ago period.

Medtronic shares gained 0.1% to close at $81.61 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Truist Securities analyst Richard Newitter maintained a Hold rating and cut the price target from $93 to $90 on May 26, 2023. This analyst has an accuracy rate of 78%.
• Stifel analyst Rick Wise maintained a Buy rating and increased the price target from $90 to $92 on May 26, 2023. This analyst has an accuracy rate of 80%.
• Bernstein analyst Lee Hambright maintained an Outperform rating and lowered the price target from $100 to $99 on May 26, 2023. This analyst has an accuracy rate of 62%.
• Barclays analyst Matt Miksic upgraded the stock from Equal-Weight to Overweight and increased the price target from $89 to $104 on April 24, 2023. This analyst has an accuracy rate of 72%.
• Wells Fargo analyst Larry Biegelsen upgraded the stock from Equal-Weight to Overweight and increased the price target from $77 to $100 on April 24, 2023. This analyst has an accuracy rate of 77%.

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