Evercore Lowers Medtronic (NYSE:MDT) Price Target to $108.00

Medtronic (NYSE:MDT) had its price target cut by equities research analysts at Evercore from $115.00 to $108.00 in a research note issued on Monday,MarketScreener reports. The firm currently has an “outperform” rating on the medical technology company’s stock. Evercore’s target price indicates a potential upside of 25.01% from the company’s current price.

A number of other research firms have also commented on MDT. Sanford C. Bernstein upped their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Truist Financial reduced their price objective on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research note on Wednesday, February 18th. Barclays upped their price objective on shares of Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, April 1st. CICC Research assumed coverage on shares of Medtronic in a research note on Friday, January 30th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.10.

Medtronic Price Performance

Shares of NYSE MDT opened at $86.40 on Monday. Medtronic has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $110.92 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.24 and a beta of 0.75. The firm has a 50-day moving average of $93.90 and a two-hundred day moving average of $96.13.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the prior year, the company earned $1.38 EPS. Medtronic’s revenue was up 5.8% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts expect that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Institutional Trading of Medtronic

A number of hedge funds have recently made changes to their positions in MDT. Norges Bank purchased a new stake in shares of Medtronic in the fourth quarter worth approximately $1,653,485,000. Capital Research Global Investors lifted its position in shares of Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares in the last quarter. Barclays PLC lifted its position in shares of Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after purchasing an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Medtronic by 78.3% in the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after purchasing an additional 3,307,211 shares in the last quarter. Finally, Guinness Asset Management LTD purchased a new stake in shares of Medtronic in the third quarter worth approximately $275,556,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Citi trimmed its price target to $110 but maintained a Buy rating, signaling continued analyst conviction and meaningful upside vs. current levels. Citigroup Raises/Remains Positive on MDT
• Positive Sentiment: Evercore lowered its target to $108 but kept an Outperform rating, also implying multi‑ten‑percent upside and signaling confidence in MDT’s medium‑term fundamentals. Evercore Adjusts MDT PT
• Positive Sentiment: Argus reduced its target to $115 but retained a Buy rating, another vote of confidence that leaves sizable upside from current levels. Argus Maintains Buy on MDT
• Positive Sentiment: Market research projects steady long‑term growth (5.9% CAGR) in the global lung cancer surgery market — a tailwind for device makers like Medtronic that supply minimally invasive and robotic-assisted tools. This supports longer‑term revenue growth outlooks. Lung Cancer Surgery Market Growth
• Neutral Sentiment: Merit Medical’s acquisition of View Point Medical is industry M&A activity but not directly material to Medtronic’s near-term outlook. Merit Medical Acquisition
• Neutral Sentiment: Inogen’s board appointment is unrelated to Medtronic’s business and unlikely to move MDT stock. Inogen Board Appointment
• Negative Sentiment: Stifel cut its price target to $95 and reiterated a Hold, explicitly citing dilution/transaction impacts from the MiniMed/diabetes spin-off and a MiniMed IPO as limiting near‑term upside — a clear near‑term headwind for sentiment. Stifel Lowers MDT Target, Cites MiniMed IPO Effects
• Negative Sentiment: Johnson & Johnson launched a CE‑marked Varipulse Pro pulsed field ablation platform in Europe — increased competition in electrophysiology/ablation could pressure share gains or pricing in those product lines. J&J Varipulse Pro Launch

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).