TD Cowen on Medtronic, Inc. (MDT): 'We believe the results should be enough to sustain recent multiple expansion'

TD Cowen analyst Joshua Jennings reiterated a Buy rating and $110.00 price target on Medtronic, Inc. (NYSE: MDT).

The analyst comments "Overall, MDT reported revenue and EPS of $9.76B (+13.7% Y/Y org.)/$1.45 (+15% Y/Y), above TD Cowen/Street estimates of $9.54B and $1.39, respectively. Driving the results was outperformance within Medtronic's Electrophysiology Therapies unit, which reported revenue of $2.2B (+29.1% Y/Y). The company's CAS business delivered 88% WW Y/Y growth versus our ~70% forecast and gained 9 points of U.S. market share. The company now expects FY27 organic revenue growth of 7.25%-7.75% and EPS of $5.94-$6.00 (+8% Y/Y midpoint growth). We believe the results should be enough to sustain recent multiple expansion, with the stock up ~4% pre-market."

For an analyst ratings summary and ratings history on Medtronic, Inc. click here. For more ratings news on Medtronic, Inc. click here.

Shares of Medtronic, Inc. closed at $90.65 yesterday.

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