Evercore Lowers Medtronic (NYSE:MDT) Price Target to $108.00

Medtronic (NYSE:MDT) had its price target cut by Evercore from $115.00 to $108.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has an “outperform” rating on the medical technology company’s stock. Evercore’s price objective would suggest a potential upside of 26.29% from the company’s current price.

MDT has been the topic of several other research reports. Mizuho raised shares of Medtronic to a “strong-buy” rating in a research note on Wednesday, February 18th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Medtronic in a research report on Thursday, March 26th. Daiwa Securities Group dropped their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Piper Sandler cut their target price on Medtronic from $105.00 to $91.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Finally, William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.10.

Medtronic Trading Down 0.9%

NYSE:MDT opened at $85.52 on Monday. Medtronic has a one year low of $79.55 and a one year high of $106.33. The company’s 50-day simple moving average is $94.18 and its 200 day simple moving average is $96.19. The firm has a market capitalization of $109.80 billion, a P/E ratio of 23.84, a PEG ratio of 2.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87.

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

Insider Buying and Selling at Medtronic

In related 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 sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MDT. Norges Bank purchased a new position in Medtronic during the fourth quarter worth about $1,653,485,000. Capital Research Global Investors increased its holdings in shares of Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the last quarter. Barclays PLC raised its position in shares of Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares during the period. Schroder Investment Management Group raised its position in shares of Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after buying an additional 3,307,211 shares during the period. Finally, Guinness Asset Management LTD purchased a new position in Medtronic in the third quarter worth approximately $275,556,000. 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).