Medtronic (NYSE:MDT) Price Target Cut to $81.00 by Analysts at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has reduced Medtronic's price target from $82.00 to $81.00, maintaining a "sell" rating, indicating a potential downside of 17.03% from the current stock price.
• Despite the downgrade, Medtronic has received mixed ratings from various analysts, with a consensus rating of "Moderate Buy" and an average target price of $100.94.
• Medtronic reported strong earnings results with $1.26 earnings per share, surpassing analyst estimates, and revenue of $8.58 billion, up 7.7% year-over-year.

Medtronic (NYSE:MDT - Get Free Report) had its target price dropped by The Goldman Sachs Group from $82.00 to $81.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a "sell" rating on the medical technology company's stock. The Goldman Sachs Group's target price suggests a potential downside of 17.03% from the stock's current price.

Several other research firms have also recently issued reports on MDT. William Blair upgraded shares of Medtronic to a "hold" rating in a research note on Friday, July 11th. Wells Fargo & Company lifted their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They set an "outperform" rating and a $110.00 price target on the stock. Wolfe Research upgraded Medtronic from an "underperform" rating to a "peer perform" rating in a research report on Monday, June 30th. Finally, Robert W. Baird raised their target price on Medtronic from $94.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Medtronic presently has a consensus rating of "Moderate Buy" and an average target price of $100.94.

Medtronic Trading Up 2.3%

NYSE MDT opened at $97.63 on Wednesday. The stock's 50 day moving average is $92.94 and its 200 day moving average is $88.50. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $125.23 billion, a PE ratio of 26.90, a P/E/G ratio of 2.51 and a beta of 0.78. Medtronic has a twelve month low of $79.29 and a twelve month high of $97.94.

Medtronic (NYSE:MDT - Get Free Report) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm earned $1.23 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Research analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In other Medtronic news, Director William R. Jellison bought 2,500 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company's stock, valued at approximately $3,261,621.70. This trade represents a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cape Investment Advisory Inc. grew its stake in shares of Medtronic by 3.2% during the second quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company's stock valued at $314,000 after acquiring an additional 113 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Medtronic by 1.9% during the 2nd quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company's stock worth $532,000 after purchasing an additional 114 shares during the last quarter. Red Spruce Capital LLC boosted its stake in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company's stock valued at $2,067,000 after buying an additional 118 shares during the last quarter. Certior Financial Group LLC grew its position in shares of Medtronic by 3.7% during the first quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company's stock worth $310,000 after buying an additional 122 shares in the last quarter. Finally, Florida Financial Advisors LLC raised its holdings in Medtronic by 4.8% in the second quarter. Florida Financial Advisors LLC now owns 2,683 shares of the medical technology company's stock valued at $234,000 after acquiring an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 82.06% of the company's stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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