Medtronic PLC (NYSE:MDT) posted better-than-expected earnings for the third quarter on Tuesday.
The company posted adjusted EPS of $1.36, beating market estimates of $1.33. The company’s quarterly sales came in at $9.017 billion, versus expectations of $8.905 billion.
Medtronic affirmed its FY2026 adjusted EPS guidance of $5.62-$5.66, versus market estimates of $5.65.
"This quarter, we again delivered accelerated growth while investing decisively in our future," said Thierry Piéton, Medtronic CFO. "We continued to invest in R&D to strengthen our innovation pipeline, funded significant growth opportunities while driving G&A leverage, and we executed on our M&A and venture strategy with two key transactions in the quarter. Bottom line, we are executing on our roadmap and positioning the business for sustainable growth."
Medtronic shares rose 0.1% to $96.45 in pre-market trading.
These analysts made changes to their price targets on Medtronic following earnings announcement.
- Needham analyst Mike Matson maintained Medtronic with a Buy and lowered the price target from $121 to $120.
- Baird analyst David Rescott maintained the stock with a Neutral and lowered the price target from $103 to $100.
Considering buying MDT stock? Here’s what analysts think:
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