Medtronic Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Medtronic plc MDT is expected to release earnings results for its third quarter of fiscal year 2024, before the opening bell on Feb. 20, 2024.

Analysts expect the Dublin, Ireland-based company to report quarterly earnings at $1.26 per share, down from year-ago earnings of $1.3 per share. Medtronic is projected to report quarterly revenue of $7.95 billion, according to data from Benzinga Pro.

The company recently announced CE (Conformité Européenne) Mark approval for the MiniMed 780G system with Simplera Sync, a disposable, all-in-one continuous glucose monitor (CGM) which does not require a fingerstick or overtape.

Additionally, Medtronic announced that it received FDA approval of its Percept RC Deep Brain Stimulation (DBS) system.
Medtronic shares fell 0.4% to close at $84.42 on Friday.

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 boosted the price target from $84 to $87 on Dec. 22, 2023. This analyst has an accuracy rate of 73%.
• Oppenheimer analyst Steven Lichtman reiterated a Perform rating with a price target of $89 on Aug. 23, 2023. This analyst has an accuracy rate of 72%.
• UBS analyst Matthew Taylor maintained a Sell rating and increased the price target from $79 to $82 on Aug. 23, 2023. This analyst has an accuracy rate of 68%.
• Wells Fargo analyst Larry Biegelsen maintained an Overweight rating and raised the price target from $100 to $102 on Aug. 23, 2023. This analyst has an accuracy rate of 73%.
• Stifel analyst Rick Wise maintained a Buy rating and increased the price target from $92 to $95 on Aug. 23, 2023. This analyst has an accuracy rate of 76%.

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