Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research report released on Saturday.

Several other equities research analysts have also issued reports on MDT. Citigroup lifted their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Truist Financial upped their target price on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, November 20th. Leerink Partners set a $120.00 price target on Medtronic and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Daiwa Capital Markets boosted their price target on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Stifel Nicolaus increased their price objective on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.72.

Medtronic Price Performance

MDT stock opened at $103.36 on Friday. The stock has a 50-day moving average price of $95.24 and a two-hundred day moving average price of $91.14. Medtronic has a 1 year low of $79.29 and a 1 year high of $103.70. The stock has a market cap of $132.58 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. During the same quarter in the prior year, the firm posted $1.26 EPS. The business’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. Equities analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXQ Capital LP grew its stake in Medtronic by 25.6% during the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after buying an additional 2,013 shares in the last quarter. Legacy Advisory Services LLC bought a new stake in shares of Medtronic during the 1st quarter worth approximately $541,000. GC Wealth Management RIA LLC boosted its position in shares of Medtronic by 20.6% during the 2nd quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after acquiring an additional 5,734 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after acquiring an additional 5,296 shares during the last quarter. Finally, World Investment Advisors raised its position in Medtronic by 1.9% during the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after purchasing an additional 2,868 shares in the last quarter. 82.06% of the stock is 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.