Medtronic (NYSE:MDT) Price Target Raised to $109.00

Medtronic (NYSE:MDT) had its target price upped by Robert W. Baird from $103.00 to $109.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

A number of other equities research analysts have also recently commented on MDT. UBS Group increased their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Stifel Nicolaus lifted their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $111.00 price target on shares of Medtronic in a research note on Friday, October 10th. Finally, Citigroup lifted their price objective on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $109.72.

Medtronic Price Performance

Shares of MDT opened at $101.16 on Wednesday. The company has a 50 day moving average of $95.04 and a two-hundred day moving average of $90.88. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. Medtronic has a twelve month low of $79.29 and a twelve month high of $102.59. The company has a market cap of $129.76 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

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

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Medtronic

Hedge funds have recently modified their holdings of the stock. 1248 Management LLC purchased a new position in Medtronic during the first quarter valued at approximately $26,000. Delos Wealth Advisors LLC acquired a new stake in shares of Medtronic during the 2nd quarter worth approximately $27,000. Corundum Trust Company INC acquired a new stake in shares of Medtronic during the 3rd quarter worth approximately $27,000. Twin Tree Management LP purchased a new position in shares of Medtronic during the 1st quarter valued at approximately $29,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Medtronic in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.