Wells Fargo & Company Boosts Medtronic (NYSE:MDT) Price Target to $114.00

Medtronic (NYSE:MDT) had its target price raised by Wells Fargo & Company from $100.00 to $114.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the medical technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 12.04% from the stock’s current price.

Several other brokerages have also commented on MDT. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the company a “neutral” rating in a research report on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. Finally, Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research note on Wednesday. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.17.

Medtronic Stock Up 0.9%

Shares of NYSE:MDT opened at $101.75 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business has a 50 day simple moving average of $94.64 and a two-hundred day simple moving average of $90.63. Medtronic has a 1 year low of $79.29 and a 1 year high of $102.48. The firm has a market capitalization of $130.51 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the company earned $1.26 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, equities analysts predict that Medtronic will post 5.46 EPS for the current year.

Insider Activity

In related news, Director William R. Jellison purchased 2,500 shares of Medtronic stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the completion of the sale, 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 SEC filing for this sale provides additional information. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Corundum Trust Company INC acquired a new stake in shares of Medtronic during the third quarter worth about $27,000. 1248 Management LLC acquired a new position in Medtronic during the first quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Medtronic in the third quarter valued at approximately $29,000. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic during the second quarter worth approximately $27,000. Finally, Imprint Wealth LLC acquired a new position in shares of Medtronic in the 3rd quarter valued at $31,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.