BTIG Research Has Lowered Expectations for Medtronic (NYSE:MDT) Stock Price

Key Points

• BTIG Research lowered its Medtronic price target from $100 to $99 while maintaining a “buy” rating, implying 11.79% upside from the prior close.
• Analyst sentiment remains positive overall, with 18 buy ratings and 10 hold ratings; the consensus is “Moderate Buy” with an average target price of $102.88.
• Medtronic recently beat quarterly expectations, reporting $1.45 in EPS versus $1.39 expected and revenue of $9.76 billion versus $9.55 billion forecast, with revenue up 13.7% year over year.

Medtronic (NYSE:MDT - Get Free Report) had its target price reduced by investment analysts at BTIG Research from $100.00 to $99.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the medical technology company's stock. BTIG Research's price target suggests a potential upside of 11.79% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. Piper Sandler restated a "neutral" rating on shares of Medtronic in a research report on Monday, August 10th. Evercore set a $105.00 price target on Medtronic in a report on Monday, July 6th. Weiss Ratings upgraded Medtronic from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, September 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Finally, Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $102.88.

Medtronic Stock Performance

NYSE:MDT opened at $88.56 on Monday. The company's 50-day moving average price is $90.28 and its 200-day moving average price is $84.77. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a market cap of $113.28 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.02 and a beta of 0.55. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. Medtronic's revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, sell-side analysts forecast that Medtronic will post 5.98 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the fourth quarter valued at about $27,000. IAG Wealth Partners LLC purchased a new stake in Medtronic during the second quarter worth about $30,000. Pin Oak Investment Advisors Inc. acquired a new position in Medtronic during the second quarter worth about $32,000. Community Bank N.A. purchased a new position in Medtronic in the second quarter valued at about $33,000. Finally, Core Capital Management & Research inc. purchased a new position in Medtronic in the second quarter valued at about $33,000. 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 devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company's portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.

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