Barclays starts coverage of Medtronic stock at Equal Weight

Published on 10/08/2026 at 11:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays set a USD 95.00 target on October 7, 2026. Medtronic stock costs EUR 76.35 after EUR 76.40, minus 0.07 percent.

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Barclays initiated coverage of Medtronic stock with an Equal Weight rating and a USD 95.00 price target on October 7, 2026, according to Yahoo Finance. The rating puts a defined valuation marker beside Medtronic's planned MiniMed separation, while the target sits above the company's euro reference price.

Target sets a cautious marker

The Barclays action matters because Equal Weight is more restrained than a Buy rating, even though its USD 95.00 target remains above the USD 85.51 NYSE close on October 7, 2026. The same Yahoo Finance page lists a 52-week NYSE range of USD 73.31 to USD 106.33 and a market capitalization of USD 109.5 billion as of October 7, 2026.

That range places the U.S. share price below its yearly high, while the Barclays target remains inside the observed annual band. For investors, the contrast is clear: the new rating is cautious, but the target still allows room for a higher valuation if execution supports it.

Revenue growth meets higher guidance

Medtronic generated USD 9.76 billion in revenue in the first quarter of fiscal 2027, up 13.70 percent year over year, while adjusted earnings per share reached USD 1.45, according to Yahoo Finance on September 9, 2026. Revenue exceeded the cited consensus estimate of USD 9.55 billion by 3.00 percent, and adjusted earnings per share exceeded the USD 1.39 estimate by USD 0.06.

Management raised fiscal 2027 organic revenue growth guidance to 7.25 percent to 7.75 percent from 6.75 percent to 7.25 percent. Adjusted earnings guidance moved to USD 5.94 to USD 6.00 per share from USD 5.90 to USD 6.00, although the first-quarter comparison included an extra fiscal week that added USD 570 million to revenue.

MiniMed deadline remains near

Medtronic's October 7 release set the final MiniMed exchange ratio at 4.5939 MiniMed shares for each accepted Medtronic share, and the exchange offer is scheduled to expire at midnight New York time on October 9, 2026, according to Medtronic. Completion remains subject to the offer conditions described in the release, making the separation an important near-term corporate milestone.

Medtronic stock stays near EUR 76

Medtronic stock was trading at EUR 76.35 at Lang & Schwarz on October 8, 2026 at 11:34 a.m. CEST, down 0.07 percent versus the EUR 76.40 prior close at Lang & Schwarz on October 7, 2026. At the NYSE, the stock closed at USD 85.51 on October 7, 2026.

The further course of trading is shown by the continuously updated real-time quote of Medtronic stock.