Medtronic (NYSE:MDT) Reaches New 52-Week High Following Better-Than-Expected Earnings

Medtronic PLC (NYSE:MDT)’s stock price hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $102.48 and last traded at $101.2850, with a volume of 3791313 shares. The stock had previously closed at $96.28.

The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Medtronic’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS.

Analyst Upgrades and Downgrades

MDT has been the subject of several recent research reports. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Wells Fargo & Company increased their target price on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Cowen reaffirmed a “buy” rating on shares of Medtronic in a report on Friday. JPMorgan Chase & Co. boosted their target price on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Finally, Truist Financial upped their target price on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $103.06.

Insider Buying and Selling at Medtronic

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

Institutional Trading of Medtronic

Several institutional investors and hedge funds have recently made changes to their positions in MDT. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter valued at about $26,000. Delos Wealth Advisors LLC purchased a new stake in Medtronic during the second quarter worth $27,000. Corundum Trust Company INC bought a new stake in Medtronic during the 3rd quarter valued at $27,000. Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter valued at about $29,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the 3rd quarter worth approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Up 4.6%

The company’s 50 day simple moving average is $94.51 and its two-hundred day simple moving average is $90.52. The company has a market capitalization of $129.14 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54.

About Medtronic

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.