Medtronic (NYSE:MDT) Price Target Raised to $117.00

Medtronic (NYSE:MDT) had its target price raised by investment analysts at Morgan Stanley from $107.00 to $117.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.15% from the stock’s current price.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $98.00 price target on shares of Medtronic in a research report on Friday, October 31st. Robert W. Baird increased their price objective on Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank Of Canada upped their price target on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.50.

Medtronic Stock Down 0.1%

Shares of MDT stock traded down $0.07 during trading on Wednesday, reaching $100.73. The company’s stock had a trading volume of 5,245,365 shares, compared to its average volume of 7,496,314. The business has a fifty day moving average price of $94.64 and a 200-day moving average price of $90.63. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The company has a market cap of $129.20 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. Medtronic has a one year low of $79.29 and a one year high of $102.59.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating 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 business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic will post 5.46 earnings per share for the current year.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the company’s 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 transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William R. Jellison purchased 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several institutional investors have recently made changes to their positions in MDT. Corundum Trust Company INC acquired a new position in Medtronic in the 3rd quarter valued at $27,000. 1248 Management LLC bought a new position in shares of Medtronic in the first quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in Medtronic in the third quarter valued at about $29,000. Delos Wealth Advisors LLC acquired a new position in Medtronic in the second quarter valued at about $27,000. Finally, Imprint Wealth LLC bought a new stake in Medtronic during the third quarter worth about $31,000. 82.06% of the stock is currently owned by institutional investors.

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.