Street View: Solid demand keeps Medtronic's growth in full swing

Medtronic

19/11/2025 11:23

** Medical device maker Medtronic MDT.N beat second-quarter estimates and raised its annual sales growth forecast on Tuesday, driven by strong demand for heart devices, sending its shares up nearly 5%

** Quarterly revenue of $8.96 bln beat analysts' average expectation of $8.87 bln

** Average rating of 35 analysts is "buy"; median PT is $109 - data compiled by LSEG

BEATING ODDS WITH EVERY HEARTBEAT

** J.P. Morgan ("neutral") says the cardiac ablation market, which involves procedures to treat irregular heart rhythms, remains strong, MDT is expanding its footprint with Affera systems (advanced mapping and ablation technology), as hospitals add more units to support additional labs

** Needham ("hold") sees MDT in the early stages of a strong product cycle and is encouraged by its improved growth in F2Q26; however, they want more evidence of meaningful and sustainable organic growth acceleration before turning more positive

** Piper Sandler ("neutral," PT: $105) says Fiscal third Quarter sales target looks achievable, even with some slowdown compared to prior trends. They note strong momentum in Cardiac Ablation Solutions (CAS) and see solid progress overall, but want to better understand other growth drivers

** RBC Capital Markets ("outperform," PT: $118) says Medtronic’s accelerating growth, combined with its leveraged earnings, positions the company for a potential re-rating with higher estimates and valuation multiples

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))