Analysts expect modest upside toward $92 in the next quarter based on consistent cash flow and device sales growth in cardiac and diabetes segments. At first glance, Medtronic's ROE doesn't look very promising. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 11%. Therefore, it might not be wrong to say that the five year net income decline of 2.6% seen by Medtronic was probably the result of it having a lower ROE. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For instance, the company has a very high payout ratio, or is faced with competitive pressures. Terms and Privacy Policy Your Privacy Choices CA Privacy Notice More Info Medtronic stock forecast in December shows a P/E ratio near 26, competitive in the medical device space. Seasonal procedure upticks may drive Q4 margin expansion beyond current consensus.