Medtronic (NYSE:MDT) Coverage Initiated at Wells Fargo & Company

Stock analysts at Wells Fargo & Company began coverage on shares of Medtronic (NYSE:MDT) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $114.00 price target on the medical technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 10.72% from the stock’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Truist Financial lowered their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Citigroup increased their target price on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Morgan Stanley lifted their price target on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research note on Wednesday, November 19th. Finally, UBS Group increased their price objective on Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Trading Up 1.9%

Shares of Medtronic stock opened at $102.96 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company has a market capitalization of $131.99 billion, a P/E ratio of 27.75, a PEG ratio of 2.66 and a beta of 0.71. Medtronic has a 1 year low of $79.55 and a 1 year high of $106.33. The company’s fifty day moving average is $99.60 and its two-hundred day moving average is $95.69.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. During the same quarter last year, the company posted $1.26 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts forecast that Medtronic will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Medtronic by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after buying an additional 1,888,381 shares in the last quarter. State Street Corp lifted its position in shares of Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after acquiring an additional 625,992 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after acquiring an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp increased its position in Medtronic by 0.9% during the 3rd 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 purchasing an additional 192,410 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Medtronic by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after purchasing an additional 98,220 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).