Medtronic (NYSE:MDT) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Medtronic (NYSE:MDT) had its price target hoisted by equities researchers at Robert W. Baird from $103.00 to $109.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 8.10% from the company’s previous close.

MDT has been the topic of several other research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $98.00 price target on shares of Medtronic in a research note on Friday, October 31st. Leerink Partners set a $120.00 target price on shares of Medtronic and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial increased their target price on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Piper Sandler reaffirmed a “neutral” rating on shares of Medtronic in a research note on Friday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $110.00 target price on shares of Medtronic in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $106.39.

Medtronic Price Performance

Shares of Medtronic stock opened at $100.83 on Wednesday. The firm has a market cap of $129.33 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77. The firm’s 50-day simple moving average is $94.64 and its 200-day simple moving average is $90.63. Medtronic has a twelve month low of $79.29 and a twelve month high of $102.48. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The firm 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 company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, research analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Insider Activity at Medtronic

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

Institutional Investors Weigh In On Medtronic

Several institutional investors have recently modified their holdings of MDT. Riverbend Wealth Management LLC grew its position in Medtronic by 3.2% in the third quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares in the last quarter. Holistic Financial Partners raised its holdings in Medtronic by 3.0% during the third quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after acquiring an additional 109 shares in the last quarter. Wynn Capital LLC boosted its position in Medtronic by 2.4% during the third quarter. Wynn Capital LLC now owns 4,639 shares of the medical technology company’s stock valued at $442,000 after purchasing an additional 110 shares during the last quarter. Meridian Investment Counsel Inc. grew its stake in Medtronic by 0.4% in the third quarter. Meridian Investment Counsel Inc. now owns 28,268 shares of the medical technology company’s stock valued at $2,692,000 after purchasing an additional 110 shares in the last quarter. Finally, Saxony Capital Management LLC increased its position in shares of Medtronic by 3.8% during the 3rd quarter. Saxony Capital Management LLC now owns 3,046 shares of the medical technology company’s stock worth $290,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

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.