Medtronic (NYSE:MDT) Price Target Raised to $109.00 at Robert W. Baird

Medtronic (NYSE:MDT) had its price target increased by Robert W. Baird from $103.00 to $109.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

A number of other brokerages have also commented on MDT. Wall Street Zen lowered Medtronic from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Sanford C. Bernstein restated an “outperform” rating and issued a $98.00 price objective on shares of Medtronic in a report on Friday, October 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $111.00 target price on shares of Medtronic in a research note on Friday, October 10th. Citigroup boosted their price target on shares of Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Argus increased their price target on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. One research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.50.

Medtronic Stock Down 0.7%

NYSE MDT opened at $100.12 on Wednesday. Medtronic has a 1 year low of $79.29 and a 1 year high of $102.59. The stock has a market capitalization of $128.42 billion, a PE ratio of 27.58, a PEG ratio of 2.42 and a beta of 0.77. 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’s 50-day moving average is $94.80 and its 200 day moving average is $90.70.

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

Insider Activity

In related news, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president owned 35,615 shares of the company’s stock, 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 at this link. Also, Director William R. Jellison bought 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. This represents a 100.00% increase in their position. 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 hedge funds have recently added to or reduced their stakes in MDT. Vanguard Group Inc. raised its position in shares of Medtronic by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the last quarter. State Street Corp increased its stake in Medtronic by 1.0% during the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after purchasing an additional 625,992 shares in the last quarter. Geode Capital Management LLC raised its holdings in Medtronic by 1.1% in the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after buying an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after buying an additional 192,410 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Medtronic by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after buying an additional 98,220 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

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.