Medtronic (NYSE:MDT) Price Target Raised to $117.00

Medtronic (NYSE:MDT) had its price objective upped by Morgan Stanley from $107.00 to $117.00 in a research note issued to investors on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the medical technology company’s stock.

Other analysts also recently issued reports about the stock. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Friday, November 14th. JPMorgan Chase & Co. increased their target price on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 price objective on shares of Medtronic in a research report on Wednesday. Finally, Truist Financial upped their target price on Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus target price of $109.72.

Medtronic Trading Up 1.8%

Shares of NYSE:MDT opened at $101.16 on Wednesday. Medtronic has a 52-week low of $79.29 and a 52-week high of $102.59. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The company has a market cap of $129.76 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.42 and a beta of 0.77. The stock’s 50-day moving average is $95.04 and its 200-day moving average is $90.88.

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

Insider Activity

In other news, Director William R. Jellison bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

Several institutional investors have recently bought and sold shares of MDT. Norges Bank bought a new stake in Medtronic during the 2nd quarter worth about $1,432,698,000. Boston Partners grew its stake in shares of Medtronic by 122.8% during the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after purchasing an additional 3,809,450 shares during the last quarter. Barclays PLC increased its holdings in shares of Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after purchasing an additional 3,492,192 shares in the last quarter. Ameriprise Financial Inc. raised its position in Medtronic by 28.8% in the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the last quarter. Finally, Schroder Investment Management Group lifted its holdings in 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 worth $717,143,000 after buying an additional 3,307,211 shares in the last quarter. 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.