Truist Financial Forecasts Strong Price Appreciation for Medtronic (NYSE:MDT) Stock

Medtronic (NYSE:MDT) had its price objective raised by equities research analysts at Truist Financial from $103.00 to $110.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s target price points to a potential upside of 10.46% from the stock’s current price.

MDT has been the subject of several other reports. Daiwa Capital Markets upped their target price on Medtronic from $101.00 to $104.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. boosted their price target on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research report on Friday, November 14th. Finally, Robert W. Baird increased their target price on shares of Medtronic from $103.00 to $109.00 and gave the stock a “neutral” rating in a report 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.72.

Medtronic Price Performance

MDT traded down $0.75 on Thursday, hitting $99.59. 2,234,101 shares of the stock were exchanged, compared to its average volume of 7,506,144. The firm has a market capitalization of $127.74 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. Medtronic has a 12 month low of $79.29 and a 12 month high of $102.59. The business has a 50-day moving average of $94.80 and a two-hundred day moving average of $90.70.

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

Insider Buying and Selling

In related news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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 value 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 represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Medtronic in the 2nd quarter valued at $1,432,698,000. Boston Partners raised its stake in shares of Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after purchasing an additional 3,809,450 shares during the period. Barclays PLC boosted its holdings in shares of Medtronic by 104.6% in 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. Ameriprise Financial Inc. grew its position in Medtronic by 28.8% during the first quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock valued at $1,391,141,000 after buying an additional 3,461,221 shares during the period. Finally, Schroder Investment Management Group increased its holdings in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after buying an additional 3,307,211 shares during the last quarter. Institutional investors and hedge funds 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.