UBS upgraded Medtronic (NYSE:MDT) to a Buy from Neutral today, telling investors in a research note that a “turnaround” is underway at the company. The upgrade raises an important question for investors: Is Medtronic finally returning to sustainable growth after years of underperformance, or is it too early to call the turnaround complete? Bear CaseHowever, investors may want to wait for several more quarters of consistent execution before concluding that Medtronic’s (NYSE:MDT) turnaround is complete. Management stated that they affected Medtronic’s (NYSE:MDT) business by $74 million, representing an 80 basis points headwind. Medtronic (NYSE:MDT) expects fiscal year 27 to see an organic revenue growth of 6.75% to 7.25%, including approximately 11.5% to 12% organic growth in Q1.