Medtronic’s Target Slashed to $95 as Perfusion Market Eyes $2.4B by 2034
Jefferies cut Medtronic’s price target from $108 to $95 with a Hold rating, contrasting with a 2.00 average Buy consensus and institutional holdings up 16%. The global perfusion systems market is projected to grow to $2.4B by 2034 at a 5% CAGR, with North America holding 41%.
1. Jefferies Lowers Price Target
Medtronic’s price target was cut from $108 to $95 while maintaining a Hold rating, implying modest upside potential given the stock’s trading near $83.80 at the time of the revision.
2. Institutional Investors Increase Stakes
Caprock Group raised its Medtronic stake by 16%, valuing its holding at about $7.8 million, while State Street and Bank of New York Mellon also increased their positions, reflecting growing institutional confidence in the company.
3. Perfusion Systems Market Growth
The global perfusion systems market is expected to expand from $1.5 billion in 2025 to $2.4 billion by 2034 at a 5% compound annual growth rate, with North America capturing 41% of the market, supported by rising cardiovascular procedures and recent FDA device clearances.