In a report released today, Josh Jennings from TD Cowen maintained a Buy rating on Medtronic, with a price target of $106.00.
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Josh Jennings’s rating is based on Medtronic’s strategic positioning in the pelvic health market, particularly with the introduction of its Altaviva implantable tibial neuromodulation device. This device not only expands Medtronic’s already extensive portfolio but also positions the company to capture a significant share of the large UUI market in the US, which includes millions of potential patients.
Despite initial challenges with Category III coding, Jennings believes these will diminish over time, allowing Medtronic to leverage its competitive advantages. The company’s focus on digital health tools, such as the MyJourney app, further enhances its offerings by helping patients manage their conditions more effectively. Overall, the combination of a large target market and Medtronic’s innovative solutions underpins the Buy rating given by Jennings.
Jennings covers the Healthcare sector, focusing on stocks such as TransMedics Group, Medtronic, and Boston Scientific. According to TipRanks, Jennings has an average return of 2.5% and a 47.79% success rate on recommended stocks.
In another report released on October 7, Citi also maintained a Buy rating on the stock with a $112.00 price target.