Stifel reiterates Hold rating on Medtronic stock, maintains $87 price target

Investing.com - Stifel has reiterated its Hold rating and $87.00 price target on Medtronic , Inc. (NYSE:MDT), a $118.7 billion healthcare equipment leader with strong financial health according to InvestingPro data, following the medical device maker’s fiscal first-quarter 2026 results.

The company reported quarterly performance slightly above consensus estimates for both organic growth and earnings per share. Despite this modest outperformance, Medtronic stock fell in early trading.

Stifel noted that the share price decline might reflect investor expectations for greater first-quarter outperformance and a more significant "beat and raise" scenario than what materialized.

Medtronic maintained its fiscal year 2026 revenue growth guidance while raising its earnings per share forecast range, according to Stifel’s analysis of the quarterly results.

The research firm also highlighted Medtronic’s value creation initiatives as a "constructive step" for the company, with more specific commentary expected during the earnings call.

In other recent news, Medtronic reported first-quarter earnings that surpassed expectations by $195 million, or $0.03 per share, with strong performances noted across several divisions. The company’s revenue exceeded consensus estimates by approximately 2%, bolstered by favorable foreign exchange rates and contributions from various segments. The Cardiovascular division outperformed Street estimates by $92 million, while the Diabetes and MedSurg segments exceeded expectations by $22 million and $38 million, respectively. Analyst firm Mizuho (NYSE:MFG) has reiterated its Outperform rating with a $100 price target following these results. Meanwhile, Raymond (NSE:RYMD) James has maintained its Market Perform rating on Medtronic. In a strategic move, Medtronic appointed two new independent directors, John Groetelaars and Bill Jellison, to its board and formed special committees focused on growth and operations. These appointments aim to enhance the company’s strategic direction. Additionally, Needham reiterated its Hold rating on Medtronic ahead of the company’s upcoming fiscal first-quarter earnings report.

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