Medtronic (NYSE:MDT) Coverage Initiated by Analysts at Citigroup

Equities researchers at Citigroup assumed coverage on shares of Medtronic (NYSE:MDT) in a report released on Tuesday. The brokerage set a “buy” rating and a $117.00 price target on the medical technology company’s stock. Citigroup’s price objective would indicate a potential upside of 13.95% from the company’s current price.

Several other equities analysts have also commented on MDT. Royal Bank Of Canada upped their price objective on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, November 19th. TD Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.56.

Medtronic Stock Performance

Shares of Medtronic stock opened at $102.67 on Tuesday. The firm has a market cap of $131.63 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. Medtronic has a 52 week low of $79.55 and a 52 week high of $106.33. The business’s fifty day simple moving average is $99.59 and its 200-day simple moving average is $95.82.

Medtronic (NYSE:MDT) last issued 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 13.71% and a return on equity of 14.86%. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same period in the previous year, the firm earned $1.26 EPS. Medtronic’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 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Medtronic in the second quarter valued at $1,432,698,000. Barclays PLC lifted its holdings in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after buying an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Medtronic by 78.3% during 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 acquiring an additional 3,307,211 shares in the last quarter. Guinness Asset Management LTD purchased a new position in shares of Medtronic in the 3rd quarter valued at about $275,556,000. Finally, Wellington Management Group LLP increased its holdings in shares of Medtronic by 35.3% in the 3rd 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 owned by institutional investors and hedge funds.

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).