Medtronic (NYSE:MDT) Given New $120.00 Price Target at Barclays

Medtronic (NYSE:MDT) had its target price raised by Barclays from $118.00 to $120.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would suggest a potential upside of 39.78% from the company’s current price.

Several other research firms have also recently weighed in on MDT. Wells Fargo & Company initiated coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 price objective for the company. Truist Financial dropped their target price on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a report on Wednesday, February 18th. CICC Research began coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “outperform” rating on the stock. Citigroup assumed coverage on Medtronic in a research report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $109.85.

Medtronic Trading Down 0.9%

Shares of MDT traded down $0.80 during mid-day trading on Wednesday, reaching $85.85. 4,580,607 shares of the company were exchanged, compared to its average volume of 8,456,468. The business has a 50 day simple moving average of $95.34 and a two-hundred day simple moving average of $96.41. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market capitalization of $110.22 billion, a PE ratio of 23.92, a PEG ratio of 2.21 and a beta of 0.71. Medtronic has a 52 week low of $79.55 and a 52 week high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the firm posted $1.38 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts predict that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Purpose Unlimited Inc. acquired a new stake in shares of Medtronic in the 4th quarter valued at about $8,182,000. Rockefeller Capital Management L.P. raised its stake in Medtronic by 19.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 719,949 shares of the medical technology company’s stock worth $69,159,000 after buying an additional 118,110 shares during the period. World Investment Advisors boosted its holdings in Medtronic by 5.7% in the fourth quarter. World Investment Advisors now owns 167,403 shares of the medical technology company’s stock worth $16,081,000 after acquiring an additional 8,961 shares in the last quarter. Winthrop Partners WNY LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $1,223,000. Finally, Meadowbrook Advisors Group LLC acquired a new stake in Medtronic in the fourth quarter valued at approximately $2,156,000. Institutional investors own 82.06% of the company’s stock.

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).