Medtronic (NYSE:MDT) Coverage Initiated by Analysts at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Medtronic (NYSE:MDT) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $114.00 price target on the medical technology company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.01% from the company’s previous close.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Daiwa Capital Markets boosted their price target on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. Stifel Nicolaus raised their price objective on shares of Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Truist Financial dropped their target price on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Citigroup increased their target price on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Fifteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Stock Performance

MDT stock traded up $0.78 during trading on Friday, reaching $101.78. 2,143,220 shares of the company’s stock were exchanged, compared to its average volume of 7,566,929. Medtronic has a 1-year low of $79.55 and a 1-year high of $106.33. The firm has a market cap of $130.48 billion, a PE ratio of 27.43, a P/E/G ratio of 2.66 and a beta of 0.71. The company’s fifty day moving average price is $99.57 and its 200-day moving average price is $95.55. 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 (NYSE:MDT) last issued 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. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The company’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. On average, research analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Investors Weigh In On Medtronic

Several hedge funds have recently bought and sold shares of MDT. Corundum Trust Company INC acquired a new stake in shares of Medtronic during the third quarter worth approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $27,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic during the 4th quarter valued at $29,000. GoalVest Advisory LLC purchased a new position in shares of Medtronic during the 4th quarter valued at $29,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Medtronic in the third quarter worth $29,000. 82.06% of the stock is 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).