Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Medtronic from “hold” to “buy.” Analysts overall rate the stock “Moderate Buy,” with an average price target of $102.88.
• Medtronic beat quarterly earnings and revenue estimates, reporting EPS of $1.45 and revenue of $9.76 billion; revenue rose 13.7% year over year.
• Shares opened at $101.82 after the stock had recently traded down 2.9%; CEO Geoffrey Martha sold 50,000 shares under a pre-arranged trading plan.

Medtronic (NYSE:MDT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts have also recently commented on the company. TD Cowen restated a "buy" rating and set a $110.00 target price on shares of Medtronic in a report on Wednesday, September 30th. Bank of America boosted their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Piper Sandler reissued a "neutral" rating on shares of Medtronic in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 19th. Finally, Mizuho set a $115.00 price objective on shares of Medtronic in a research note on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.88.

Medtronic Trading Down 2.9%

Shares of MDT stock opened at $101.82 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33. The company's 50-day moving average price is $92.70 and its 200-day moving average price is $88.45. The stock has a market cap of $130.24 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.38 and a beta of 0.56.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $9.55 billion. During the same period in the prior year, the business posted $1.26 EPS. The company's revenue was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, equities analysts predict that Medtronic will post 5.98 earnings per share for the current year.

Insider Buying and Selling at Medtronic

In other news, CEO Geoffrey Martha sold 50,000 shares of the firm's stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total value of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares in the company, valued at approximately $26,397,270. This trade represents a 15.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president directly owned 42,186 shares of the company's stock, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,903 shares of company stock valued at $5,889,203. Insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Activest Wealth Management boosted its holdings in Medtronic by 470.9% in the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 259 shares in the last quarter. Team Financial Group LLC acquired a new stake in Medtronic during the third quarter worth approximately $31,000. Avion Wealth raised its holdings in Medtronic by 97.8% during the third quarter. Avion Wealth now owns 362 shares of the medical technology company's stock worth $31,000 after purchasing an additional 179 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in Medtronic during the second quarter worth approximately $30,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of Medtronic during the 2nd quarter worth approximately $32,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Company Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products.

The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.

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