ReutersReuters

Street View: Medtronic's board refresh signals growth push

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** Medtronic MDT on Tuesday raised its full-year profit forecast for fiscal 2026 and said it expected a smaller hit of about $185 million from U.S. import tariffs, compared to the $200 million to $350 million impact it had previously expected

** Co said it will add two new directors and form committees to help lift its shares, following Elliott's emergence as a top shareholder

** Average rating from 35 analysts is "buy"; median PT is $98 - data compiled by LSEG

SHAKING UP BOARD TO STIR UP STOCK

** Wells Fargo ("overweight," PT: $100) says activist involvement is a positive step for co, with focus likely on improving quarterly performance, investing in fast-growing areas like heart care, and streamlining the business

** UBS ("neutral," PT: $94) believes the addition of two activist-backed board members will bring fresh insights, drive more aggressive portfolio management, and improve accountability in co's operational execution

** Raymond James ("market perform") says a major shareholder has driven governance changes, including two new board members and committees focused on growth and operations, and sees this as positive

** Leerink Partners ("outperform," PT: $111) remains positive on MDT due to strong growth drivers like surgical robotics and kidney nerve treatments, upcoming developments that could stabilize its core business, and a major shift toward faster-growing areas that should lead to more consistent profit growth

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