Medtronic (NYSE:MDT) Rating Lowered to Hold at Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also issued reports on MDT. Citigroup raised their price target on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Leerink Partners set a $120.00 target price on Medtronic and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Sanford C. Bernstein set a $111.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic presently has an average rating of “Moderate Buy” and a consensus target price of $109.94.

Medtronic Stock Down 0.0%

Shares of MDT opened at $96.03 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $97.65 and a 200 day moving average of $94.13. The company has a market cap of $123.11 billion, a PE ratio of 25.88, a P/E/G ratio of 2.53 and a beta of 0.71. Medtronic has a 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data 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. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts expect that Medtronic will post 5.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MDT. Norges Bank purchased a new position in Medtronic in the second quarter valued at about $1,432,698,000. Barclays PLC boosted its holdings in shares of Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after buying an additional 3,307,211 shares during the last quarter. Guinness Asset Management LTD bought a new position in shares of Medtronic during the 3rd quarter worth approximately $275,556,000. Finally, Wellington Management Group LLP lifted its position in Medtronic by 35.3% during the third quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock valued at $970,456,000 after acquiring an additional 2,658,981 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).