TD Cowen Sets $110 Target for Medtronic Following Strong Revenue Growth

Key Facts

1TD Cowen set a price target of $110.00 for Medtronic plc, reaffirming a Buy rating.

2Medtronic's fiscal 2027 first-quarter revenue rose 13.70% to $9.76 billion, exceeding expectations.

3Two of Medtronic's devices received permanent Category I CPT codes, supporting their reimbursement pathways.

TD Cowen set a price target of $110.00 for Medtronic plc while reaffirming a Buy rating, AD HOC NEWS reported. The valuation follows the company's fiscal 2027 first-quarter revenue of $9.76 billion, marking a 13.70% year-over-year increase and exceeding the consensus estimate of $9.55 billion by 3.00%.

MDT shares closed at $87.97 on October 5, 2026, as the company raised its fiscal 2027 organic revenue growth guidance to a range of 7.25-7.75%. Additionally, Medtronic's Altaviva and Symplicity Spyral devices received permanent Category I CPT codes, a regulatory milestone supporting reimbursement pathways effective January 2028.