Royal Bank Of Canada Reaffirms Outperform Rating for Medtronic (NYSE:MDT)

Medtronic (NYSE:MDT)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a note issued to investors on Wednesday, Benzinga reports. They currently have a $118.00 price target on the medical technology company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 28.37% from the stock’s previous close.

Several other equities analysts have also recently issued reports on MDT. Sanford C. Bernstein reduced their price target on shares of Medtronic from $112.00 to $97.00 and set an “outperform” rating on the stock in a research report on Thursday, June 4th. Needham & Company LLC lifted their price objective on Medtronic from $101.00 to $114.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. TD Cowen lifted their price objective on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.36.

Medtronic Price Performance

MDT stock opened at $91.92 on Wednesday. The stock has a market capitalization of $117.66 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 2.43 and a beta of 0.56. The firm’s 50-day moving average price is $86.03 and its two-hundred day moving average price is $85.42. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, equities analysts predict that Medtronic will post 5.94 earnings per share for the current year.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the sale, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Medtronic

Several large investors have recently made changes to their positions in the business. Ipsen Advisor Group LLC raised its stake in Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after buying an additional 101 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Medtronic by 0.3% in the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock worth $3,120,000 after acquiring an additional 101 shares during the last quarter. Rossby Financial LCC grew its stake in shares of Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after acquiring an additional 107 shares during the last quarter. Wealthspire Retirement LLC increased its holdings in shares of Medtronic by 5.0% during the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company’s stock valued at $232,000 after acquiring an additional 114 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Medtronic by 2.0% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,043 shares of the medical technology company’s stock valued at $622,000 after acquiring an additional 117 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Q1 results exceeded expectations. Medtronic reported adjusted EPS of $1.45 versus the $1.39 consensus estimate, while revenue rose 13.7% year over year to $9.76 billion, topping estimates of approximately $9.55 billion. Growth was broad-based, led by cardiovascular revenue of $3.93 billion, up nearly 19% organically. Medtronic fiscal first-quarter results
• Positive Sentiment: Full-year guidance was raised. Medtronic increased fiscal 2027 organic revenue-growth guidance to 7.25%-7.75% and adjusted EPS guidance to $5.94-$6.00, with management citing strong demand for cardiovascular devices, newer growth platforms and improved margins. Medtronic raises fiscal 2027 forecast
• Positive Sentiment: Robotics expansion strengthens Medtronic’s growth strategy. The company plans to invest approximately $700 million in Hong Kong-based Cornerstone Robotics and obtain rights to distribute its Sentire surgical system in select approved markets outside the U.S. The system will complement Medtronic’s Hugo robotic platform, broadening its minimally invasive surgery offering. Medtronic Cornerstone Robotics partnership
• Positive Sentiment: Additional structural-heart investment supports future products. Medtronic will invest up to $80 million in Pi-Cardia, securing an option to strengthen its technology portfolio for complex transcatheter aortic valve replacement procedures. Analysts at William Blair reiterated a Buy rating, while BTIG raised its price target from $91 to $100.
• Neutral Sentiment: Second-quarter fiscal 2027 EPS guidance of $1.32-$1.34 was slightly below the $1.35 consensus, although full-year guidance remained broadly in line with expectations after the increase.
• Neutral Sentiment: The quarter benefited from an additional fiscal week, which contributed approximately $570 million to organic revenue, creating a comparison factor investors may monitor in coming periods.

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).