Medtronic (NYSE:MDT) Upgraded by Wall Street Zen to “Buy” Rating

Medtronic (NYSE:MDT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other equities analysts have also recently issued reports on the company. BTIG Research restated a “neutral” rating on shares of Medtronic in a research report on Friday, July 11th. Leerink Partners initiated coverage on Medtronic in a research report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price target on the stock. Robert W. Baird boosted their price target on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their price target on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, Mizuho boosted their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.14.

Medtronic Stock Up 0.8%

Medtronic stock opened at $92.72 on Friday. Medtronic has a 1-year low of $79.29 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.42. The stock has a market cap of $118.93 billion, a PE ratio of 25.54, a P/E/G ratio of 2.34 and a beta of 0.80. The stock’s fifty day moving average is $90.31 and its two-hundred day moving average is $88.08.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm earned $1.23 earnings per share. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several institutional investors have recently modified their holdings of the company. Lavaca Capital LLC boosted its stake in shares of Medtronic by 40.7% during the 2nd quarter. Lavaca Capital LLC now owns 692 shares of the medical technology company’s stock worth $60,000 after acquiring an additional 200 shares in the last quarter. Cypress Capital Advisors LLC boosted its stake in shares of Medtronic by 56.2% during the 2nd quarter. Cypress Capital Advisors LLC now owns 10,897 shares of the medical technology company’s stock worth $950,000 after acquiring an additional 3,919 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in shares of Medtronic by 4.2% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 94,876 shares of the medical technology company’s stock worth $8,270,000 after acquiring an additional 3,856 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Medtronic during the 2nd quarter worth approximately $1,302,000. Finally, Cim Investment Management Inc. boosted its stake in shares of Medtronic by 99.6% during the 2nd quarter. Cim Investment Management Inc. now owns 15,675 shares of the medical technology company’s stock worth $1,309,000 after acquiring an additional 7,822 shares in the last quarter. Hedge funds and other institutional investors 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.