Medtronic (NYSE:MDT) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed its “buy” rating on Medtronic and set a $91 price target, while the analyst consensus remains “Moderate Buy” with an average target of $98.83.
• Medtronic shares recently traded at $92.61, and the company’s latest quarterly results slightly exceeded expectations: adjusted EPS was $1.55 versus $1.54 expected, while revenue rose 9.9% year over year to $9.81 billion.
• Analyst views remain mixed, with several firms cutting price targets even as UBS upgraded the stock. An executive recently sold 4,189 shares, while institutional investors collectively own 82.06% of Medtronic.

Medtronic (NYSE:MDT - Get Free Report)'s stock had its "buy" rating reissued by BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $91.00 price objective on the medical technology company's stock. BTIG Research's target price indicates a potential downside of 1.74% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. TD Cowen dropped their price objective on shares of Medtronic from $119.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Medtronic from $100.00 to $78.00 and set a "hold" rating on the stock in a research report on Thursday, June 4th. Robert W. Baird decreased their price objective on shares of Medtronic from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, June 4th. UBS Group raised shares of Medtronic from a "neutral" rating to a "buy" rating and increased their target price for the stock from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Jefferies Financial Group restated a "hold" rating and set a $88.00 target price on shares of Medtronic in a research report on Thursday, June 4th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Medtronic presently has an average rating of "Moderate Buy" and a consensus price target of $98.83.

Medtronic Stock Performance

Shares of MDT traded up $2.01 during mid-day trading on Tuesday, reaching $92.61. The company had a trading volume of 646,143 shares, compared to its average volume of 8,898,451. The stock has a market capitalization of $118.55 billion, a P/E ratio of 24.82, a PEG ratio of 2.45 and a beta of 0.55. Medtronic has a 52-week low of $73.31 and a 52-week high of $106.33. The stock has a 50 day moving average of $83.40 and a two-hundred day moving average of $86.19. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.62 billion. During the same period last year, the business earned $1.62 earnings per share. Medtronic's quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, analysts expect that Medtronic will post 5.94 earnings per share for the current year.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently modified their holdings of MDT. New England Capital Financial Advisors LLC increased its stake in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company's stock worth $135,000 after buying an additional 101 shares in the last quarter. Ipsen Advisor Group LLC raised its holdings 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 acquiring an additional 101 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Medtronic by 0.3% in 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 acquiring an additional 101 shares in the last quarter. Rossby Financial LCC lifted its position in shares of Medtronic by 5.1% in the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company's stock valued at $211,000 after acquiring an additional 107 shares in the last quarter. Finally, Wealthspire Retirement LLC boosted its stake in shares of Medtronic by 5.0% in the fourth quarter. Wealthspire Retirement LLC now owns 2,410 shares of the medical technology company's stock worth $232,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors 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).

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