Medtronic (NYSE:MDT) Stock Rating Upgraded by Wall Street Zen

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

Several other research analysts also recently issued reports on MDT. The Goldman Sachs Group lowered their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Piper Sandler reiterated a “neutral” rating and set a $85.00 target price on shares of Medtronic in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Jefferies Financial Group restated a “hold” rating and issued a $88.00 price target on shares of Medtronic in a research report on Thursday, June 4th. Finally, Truist Financial dropped their price target on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.21.

Medtronic Trading Down 0.0%

NYSE MDT opened at $83.20 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a market cap of $106.50 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.56. The business’s fifty day moving average is $79.50 and its 200 day moving average is $87.94.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts expect that Medtronic will post 5.94 EPS for the current fiscal year.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This trade represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Medtronic in the fourth quarter valued at approximately $1,653,485,000. WCM Investment Management LLC bought a new position in shares of Medtronic during the 1st quarter worth approximately $965,922,000. Capital Research Global Investors grew its position in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Wellington Management Group LLP grew its position in shares of Medtronic by 35.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,189,586 shares of the medical technology company’s stock worth $970,456,000 after buying an additional 2,658,981 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Medtronic by 2,297.7% in the 4th quarter. SG Americas Securities LLC now owns 2,510,712 shares of the medical technology company’s stock valued at $241,179,000 after acquiring an additional 2,406,000 shares in the last quarter. 82.06% of the stock is owned by 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).