Medtronic (NYSE:MDT) Stock Price Expected to Rise, Argus Analyst Says

Key Points

• Argus raised Medtronic's stock price target from $105.00 to $115.00, indicating a potential upside of 24.93% from the previous close, while maintaining a "buy" rating.
• The company reported earnings of $1.26 per share, exceeding analysts' expectations and showing a 7.7% revenue growth year-over-year.
• Insider trading saw Director William R. Jellison purchase 2,500 shares at an average price of $92.37, doubling his ownership in the company.

Medtronic (NYSE:MDT - Get Free Report) had its price objective hoisted by stock analysts at Argus from $105.00 to $115.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the medical technology company's stock. Argus' target price indicates a potential upside of 24.93% from the company's previous close.

Other analysts also recently issued reports about the company. Morgan Stanley reissued an "overweight" rating and issued a $107.00 target price (up from $98.00) on shares of Medtronic in a research report on Tuesday, July 15th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research report on Monday, June 16th. Citigroup raised their target price on Medtronic from $99.00 to $101.00 and gave the stock a "buy" rating in a research report on Thursday, August 21st. Leerink Partners assumed coverage on Medtronic in a research report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Finally, UBS Group lifted their price target on Medtronic from $94.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $102.14.

Medtronic Stock Performance

NYSE:MDT traded up $0.0150 during trading hours on Tuesday, reaching $92.0550. The stock had a trading volume of 290,458 shares, compared to its average volume of 7,676,761. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The stock has a 50 day simple moving average of $89.81 and a 200 day simple moving average of $88.00. Medtronic has a 12-month low of $79.29 and a 12-month high of $96.25. The stock has a market cap of $118.00 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.80.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period last year, the business posted $1.23 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, research analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Insider Transactions at Medtronic

In other Medtronic news, Director William R. Jellison acquired 2,500 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the purchase, the director owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Medtronic

Large investors have recently added to or reduced their stakes in the business. 1248 Management LLC bought a new stake in Medtronic during the first quarter valued at $26,000. Burkett Financial Services LLC boosted its stake in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after buying an additional 185 shares during the period. Delos Wealth Advisors LLC bought a new stake in Medtronic during the second quarter valued at $27,000. Columbia River Financial Group LLC bought a new stake in Medtronic during the first quarter valued at $28,000. Finally, Twin Tree Management LP bought a new stake in Medtronic during the first quarter valued at $29,000. 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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