Barclays Initiates Coverage of Medtronic at Equal-Weight
Fintel reports that on October 7, 2026, Barclays initiated coverage of Medtronic (NYSE:MDT) (WBAG:MDT) with a Equal-Weight recommendation.
Medtronic plc is a globally recognized medical device company based in Dublin, Ireland. The company primarily operates in the healthcare sector, focusing on the development, manufacturing, and sales of device-based medical therapies. Its diversified product portfolio addresses chronic diseases including cardiac and vascular diseases, respiratory, neurological, and spinal conditions, alongside diabetes management and minimally invasive therapies. On October 6, 2026, the day prior to the rating action, the stock closed at $87.09. This latest close of $87.09 represents a price change of 0.00% over one week from the baseline close of $87.09 on September 29, 2026, and a price change of -7.52% over one month from the baseline close of $94.17 on September 4, 2026.
The company reported its latest earnings on September 1, 2026, with an actual EPS of 1.45 against an estimate of 1.4017, representing an earnings surprise of +3.45%. Actual revenue for the period was $9,756,000,000.00, compared to the estimated revenue of $9,640,136,374.00. As of October 2, 2026, the current consensus target mean for Medtronic was $107.19, with a median target of $108.12, representing an implied change of +23.08%. The prior consensus target mean was $107.19 as of September 15, 2026, showing a consensus target revision of +0.00%.
For the current recommendation period of September 1, 2026, the analyst consensus includes 10 strong buy, 13 buy, 11 hold, 0 sell, and 0 strong sell recommendations, totaling 34 recommendations. This breakdown represents 67.6% positive, 32.4% hold, and 0.0% negative recommendations. In the prior period of August 1, 2026, the total of 34 recommendations consisted of 10 strong buy, 12 buy, 12 hold, 0 sell, and 0 strong sell recommendations, representing 64.7% positive, 35.3% hold, and 0.0% negative recommendations. Previously, Barclays maintained an Overweight rating on April 1, 2026. More recently, on September 30, 2026, TD Cowen reiterated its Buy rating on the company.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 7, 2026 | Barclays | Equal-Weight | initiated coverage | |
| September 30, 2026 | TD Cowen | Buy | Buy | reiterated |
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This story originally appeared on Fintel.