Medtronic (NYSE:MDT) Price Target Raised to $100.00

Medtronic (NYSE:MDT) had its price target raised by JPMorgan Chase & Co. from $90.00 to $100.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Citigroup upped their target price on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Daiwa Capital Markets increased their target price on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Sanford C. Bernstein restated an “outperform” rating and issued a $98.00 price target on shares of Medtronic in a research report on Friday, October 31st. Finally, UBS Group upped their price objective on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.06.

Medtronic Stock Down 0.2%

MDT opened at $95.92 on Thursday. Medtronic has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market capitalization of $123.04 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.42 and a beta of 0.77. The stock has a fifty day moving average of $94.43 and a 200-day moving average of $90.39.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, equities analysts expect that Medtronic will post 5.46 EPS for the current year.

Insider Buying and Selling

In related news, Director William R. Jellison acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Vanguard Group Inc. boosted its holdings in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after buying an additional 1,895,165 shares during the last quarter. Geode Capital Management LLC raised its position in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after acquiring an additional 310,684 shares during the period. Bank of New York Mellon Corp boosted its stake in Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock valued at $2,044,637,000 after acquiring an additional 192,410 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Medtronic by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after acquiring an additional 98,220 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Medtronic by 3.1% during the 1st quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after purchasing an additional 566,155 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.