Medtronic (NYSE:MDT) Cut to Hold at Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other brokerages also recently weighed in on MDT. Mizuho lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Wells Fargo & Company lifted their target price on Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Argus lifted their target price on Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research note on Wednesday, October 8th. Finally, William Blair raised Medtronic to a “hold” rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.82.

Medtronic Trading Down 0.2%

NYSE:MDT opened at $90.82 on Friday. Medtronic has a 12-month low of $79.29 and a 12-month high of $99.37. The firm has a market capitalization of $116.49 billion, a P/E ratio of 25.02, a P/E/G ratio of 2.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The business has a 50 day simple moving average of $94.35 and a 200 day simple moving average of $89.72.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) 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 business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts predict that Medtronic will post 5.46 EPS for the current year.

Insider Buying and Selling

In related news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Jellison purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently made changes to their positions in MDT. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $541,000. GC Wealth Management RIA LLC increased its position in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock valued at $2,926,000 after acquiring an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock valued at $2,562,000 after acquiring an additional 5,296 shares during the last quarter. Sivik Global Healthcare LLC increased its position in shares of Medtronic by 6.7% in the second quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the last quarter. Finally, World Investment Advisors increased its position in shares of Medtronic by 1.9% in the second quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after acquiring an additional 2,868 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.