Truist Financial Issues Pessimistic Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price target dropped by investment analysts at Truist Financial from $103.00 to $95.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price objective suggests a potential upside of 9.24% from the stock’s previous close.

MDT has been the topic of several other reports. Mizuho cut their price target on shares of Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday. Robert W. Baird boosted their price target on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. UBS Group reiterated a “neutral” rating and issued a $104.00 price target on shares of Medtronic in a research note on Wednesday, February 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Medtronic in a research note on Thursday, March 26th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

Medtronic Trading Down 1.3%

Shares of NYSE:MDT opened at $86.96 on Wednesday. The company’s 50-day moving average price is $92.48 and its two-hundred day moving average price is $95.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic has a one year low of $79.93 and a one year high of $106.33. The stock has a market capitalization of $111.65 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 2.28 and a beta of 0.75.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Medtronic

Hedge funds have recently modified their holdings of the stock. Artisan Partners Limited Partnership raised its stake in Medtronic by 2.6% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares in the last quarter. SageView Advisory Group LLC raised its stake in Medtronic by 164.8% in the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock worth $2,305,000 after purchasing an additional 15,062 shares in the last quarter. CSM Advisors LLC raised its stake in Medtronic by 13.2% in the 3rd quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares in the last quarter. UMB Bank n.a. raised its stake in Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after purchasing an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC acquired a new stake in Medtronic in the 3rd quarter worth about $1,308,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

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).