Truist Financial Issues Pessimistic Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price objective lowered by analysts at Truist Financial from $103.00 to $95.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target would indicate a potential upside of 10.90% from the company’s previous close.

Several other analysts have also recently issued reports on MDT. Wall Street Zen cut shares of Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. UBS Group restated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Finally, Robert W. Baird increased their price objective on shares of Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Medtronic presently has a consensus rating of “Moderate Buy” and an average price target of $109.25.

Medtronic Stock Down 1.7%

Shares of MDT stock opened at $85.66 on Wednesday. The stock has a market cap of $109.98 billion, a P/E ratio of 23.86, a PEG ratio of 2.26 and a beta of 0.75. Medtronic has a 52 week low of $79.93 and a 52 week high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $91.85 and its two-hundred day simple moving average is $95.75.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts predict that Medtronic will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 32,768 shares in the company, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

A number of hedge funds have recently added to or reduced their stakes in the stock. Curbstone Financial Management Corp grew its stake in Medtronic by 1.8% in the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in shares of Medtronic by 7.8% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock valued at $135,000 after purchasing an additional 101 shares in the last quarter. Ipsen Advisor Group LLC boosted its stake in shares of Medtronic by 1.7% during the fourth quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after purchasing an additional 101 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Medtronic by 0.3% during the fourth quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after purchasing an additional 101 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC boosted its stake in shares of Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock valued at $309,000 after purchasing an additional 102 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

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).