Medtronic (NYSE:MDT) Price Target Raised to $117.00 at Morgan Stanley

Medtronic (NYSE:MDT) had its target price boosted by Morgan Stanley from $107.00 to $117.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical technology company’s stock.

Several other equities research analysts also recently commented on the stock. Cowen restated a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Argus lifted their price target on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Wells Fargo & Company boosted their price target on shares of Medtronic from $100.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Robert W. Baird lifted their target price on shares of Medtronic from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.50.

Medtronic Trading Down 0.7%

MDT stock opened at $100.12 on Wednesday. Medtronic has a 1-year low of $79.29 and a 1-year high of $102.59. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $94.80 and its 200-day moving average is $90.70. 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.

Medtronic (NYSE:MDT) last posted its 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 business had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts anticipate that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently added to or reduced their stakes in the stock. 1248 Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $26,000. Delos Wealth Advisors LLC bought a new stake in Medtronic during the 2nd quarter worth about $27,000. Corundum Trust Company INC bought a new position in Medtronic in the third quarter valued at approximately $27,000. Twin Tree Management LP acquired a new position in Medtronic during the first quarter worth $29,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Medtronic during the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.