Medtronic (NYSE:MDT) Stock Rating Upgraded by Leerink Partnrs

Medtronic (NYSE:MDT - Get Free Report) was upgraded by equities researchers at Leerink Partnrs to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports. Leerink Partnrs also issued estimates for Medtronic's Q1 2026 earnings at $1.23 EPS, Q2 2026 earnings at $1.32 EPS, Q3 2026 earnings at $1.38 EPS, Q4 2026 earnings at $1.62 EPS, FY2026 earnings at $5.55 EPS, Q1 2027 earnings at $1.34 EPS, Q2 2027 earnings at $1.45 EPS, Q3 2027 earnings at $1.53 EPS, Q4 2027 earnings at $1.77 EPS, FY2027 earnings at $6.08 EPS, FY2028 earnings at $6.54 EPS, FY2029 earnings at $6.99 EPS and FY2030 earnings at $7.46 EPS.

Several other research firms also recently commented on MDT. Wall Street Zen downgraded Medtronic from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada decreased their price objective on shares of Medtronic from $105.00 to $101.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Citigroup upgraded shares of Medtronic from a "neutral" rating to a "buy" rating and lifted their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Finally, Leerink Partners started coverage on shares of Medtronic in a research report on Monday. They issued an "outperform" rating and a $110.00 target price for the company. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Medtronic currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.87.

Medtronic Stock Performance

Shares of NYSE MDT traded down $1.07 during mid-day trading on Monday, reaching $86.85. 555,557 shares of the company's stock were exchanged, compared to its average volume of 6,867,614. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The firm has a market capitalization of $111.39 billion, a price-to-earnings ratio of 26.41, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. Medtronic has a 52 week low of $75.96 and a 52 week high of $96.25. The firm has a 50-day moving average price of $84.33 and a two-hundred day moving average price of $86.27.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.04. The company had revenue of $8.93 billion for the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The company's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Analysts predict that Medtronic will post 5.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Medtronic in the first quarter valued at about $26,000. eCIO Inc. bought a new stake in Medtronic in the 1st quarter valued at $214,000. First Hawaiian Bank boosted its holdings in shares of Medtronic by 12.1% during the 1st quarter. First Hawaiian Bank now owns 25,092 shares of the medical technology company's stock valued at $2,255,000 after purchasing an additional 2,699 shares during the last quarter. Hodges Capital Management Inc. grew its position in shares of Medtronic by 49.7% during the first quarter. Hodges Capital Management Inc. now owns 8,663 shares of the medical technology company's stock valued at $778,000 after purchasing an additional 2,876 shares in the last quarter. Finally, Modern Wealth Management LLC increased its holdings in shares of Medtronic by 25.5% in the first quarter. Modern Wealth Management LLC now owns 17,478 shares of the medical technology company's stock worth $1,571,000 after purchasing an additional 3,550 shares during 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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