Barclays starts coverage with USD 95 target for Medtronic stock
Published on 10/09/2026 at 12:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Barclays started coverage of Medtronic with an Equal Weight rating and a USD 95.00 price target on October 7, 2026.
- Medtronic set a 4.5939 MiniMed share exchange ratio for each accepted Medtronic share.
- Medtronic stock was EUR 78.20 at Lang & Schwarz on October 9, 2026, down 0.39 percent from EUR 78.51.
- Fiscal first-quarter revenue reached USD 9.76 billion, up 13.70 percent year over year.
Medtronic plc (ISIN IE00BTN1Y115) was trading at EUR 78.20 at Lang & Schwarz on October 9, 2026 at 12:34 p.m. CEST, down 0.39 percent from the EUR 78.51 prior close. On October 7, 2026, Barclays started coverage with an Equal Weight rating and a USD 95.00 price target, as reported by Yahoo Finance.
MiniMed ratio reaches its cap
On October 7, 2026, Medtronic set the final exchange ratio at 4.5939 MiniMed shares for each accepted Medtronic ordinary share. The offer covers up to 225,361,295 MiniMed shares and may include another 27,452,053 shares if the offer is oversubscribed.
The exchange offer expires at midnight New York City time on October 9, 2026, unless Medtronic extends or terminates it. The company said the final ratio was capped because the formula-based calculation exceeded 4.5939.
What does the ratio change?
Medtronic could accept 49,056,639 ordinary shares at the stated limit, or 55,032,401 shares if it exchanges its remaining MiniMed interest, according to Medtronic. That range makes the final take-up and the resulting Medtronic share count the immediate transaction variables.
Three dates define the separation
On September 1, 2026, Medtronic reported fiscal first-quarter revenue of USD 9.76 billion, up 13.70 percent year over year, with adjusted earnings per share of USD 1.45 versus USD 1.39 expected, according to MarketBeat. On September 14, 2026, the company launched the MiniMed exchange offer at a 7.00 percent discount, and on October 7, 2026, it fixed the ratio at 4.5939 shares.
Next dates for Medtronic
The MiniMed offer expires on October 9, 2026, while the next earnings report is scheduled for November 17, 2026, before the market opens, according to Gekko. The next report is expected to show revenue of USD 9.48 billion and earnings per share of USD 1.34.
Stock trades below its prior close
Medtronic stock was trading at EUR 78.20 at Lang & Schwarz on October 9, 2026 at 12:34 p.m. CEST, down 0.39 percent versus the EUR 78.51 prior close. The NYSE-listed shares were last quoted at USD 87.75 on October 8, 2026 at 4:00 p.m. ET; the 52-week range was USD 73.31 to USD 106.33, and market capitalization was USD 112.3 billion.
The further course of trading is shown by the continuously updated real-time quote of Medtronic stock.
Medtronic stock facts
- Company: Medtronic plc
- ISIN: IE00BTN1Y115
- Ticker: MDT
- Primary exchange: NYSE
- Price Lang & Schwarz (as of October 9, 2026, 12:34 p.m. CEST): EUR 78.20
- Change versus prior close: minus 0.39 percent
- Prior close Lang & Schwarz (October 8, 2026): EUR 78.51
- Market capitalization: USD 112.3 billion (as of October 8, 2026)
- 52-week range: USD 73.31-106.33 (as of October 8, 2026)
- Sector / Industry: Healthcare / Medical devices
- Index membership: S&P 500
- Next earnings date: November 17, 2026
Market context: Market report S&P 500.
