Medtronic PLC is poised to release its first-quarter fiscal 2027 earnings before the market opens on Tuesday, with Wall Street expecting both revenue and earnings to expand year-over-year.
Analysts project adjusted earnings of $1.39 per share, a 9.5% increase from the prior-year period, on revenue of $9.55 billion, up 11.3%. The company, valued at $116.8 billion, trades at 15.3 times forward earnings and holds a consensus “Buy” rating from 29 analysts, with a mean price target of $98.84 implying roughly 8% upside from the current share price of $91.23.
Growth is expected to be supported by new product launches and regulatory milestones. TD Cowen highlighted 80% growth in Medtronic’s cardiac ablation business, driven by the Affera mapping and ablation system and the Sphere-9 catheter. The company also secured expanded CE Mark approval for its Affera system to treat ventricular arrhythmias, reinforcing its position in the cardiac rhythm management market.
Analysts at TD Cowen and Needham have raised their price targets to $110 and $114, respectively, both maintaining Buy ratings. However, challenges remain. Piper Sandler’s Matt O’Brien noted that coverage for the Symplicity Renal Denervation System currently stands at 55% of the target patient population, below the historical 70% threshold typically associated with product adoption inflection points.
Financial headwinds include an estimated $75 million in tariff-related costs for the quarter, while an extra selling week is expected to provide a revenue tailwind of 500 to 600 basis points. In the prior quarter ended April 2026, Medtronic reported adjusted earnings of $1.55 per share on revenue of $9.80 billion, marking its strongest annual revenue growth in a decade at 8.4%.
Needham analysts described the outlook as centering on "the early stages of a strong product cycle," reflecting optimism around Medtronic’s ability to sustain growth through innovation and market expansion.
