Medtronic (NYSE:MDT) Price Target Raised to $114.00 at Wells Fargo & Company

Medtronic (NYSE:MDT) had its price target raised by Wells Fargo & Company from $100.00 to $114.00 in a research note published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the medical technology company’s stock.

Several other research firms have also commented on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Wednesday. Truist Financial boosted their target price on Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. One investment 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 data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.50.

Medtronic Stock Down 0.7%

Medtronic stock opened at $100.12 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market cap of $128.42 billion, a P/E ratio of 27.58, a P/E/G ratio of 2.42 and a beta of 0.77. The business has a fifty day moving average of $94.80 and a two-hundred day moving average of $90.70. Medtronic has a twelve month low of $79.29 and a twelve month high of $102.59.

Medtronic (NYSE:MDT) last released 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. The firm 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%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the business’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 owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Jellison acquired 2,500 shares of Medtronic stock in a transaction dated 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 purchase, the director owned 5,000 shares of the company’s stock, valued at approximately $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. Insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

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