Medtronic (NYSE:MDT) Upgraded to Buy at Wall Street Zen

Key Points

• Medtronic has been upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, reflecting increased confidence in the company's prospects.
• Recent quarterly earnings results showed a 7.7% year-over-year revenue growth, with earnings per share coming in at $1.26, surpassing analysts' expectations.
• The stock currently holds a consensus rating of "Moderate Buy" with a price target of $102.14, indicating positive sentiment from multiple analysts.

Medtronic (NYSE:MDT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other brokerages have also weighed in on MDT. Leerink Partners initiated coverage on Medtronic in a report on Monday, June 16th. They issued an "outperform" rating and a $110.00 price objective for the company. Citigroup boosted their price objective on Medtronic from $99.00 to $101.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Argus boosted their price objective on Medtronic from $105.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, August 26th. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th. Finally, Leerink Partnrs raised Medtronic to a "strong-buy" rating in a report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.14.

Medtronic Stock Down 1.4%

Shares of NYSE:MDT traded down $1.34 during trading on Friday, hitting $92.00. The company's stock had a trading volume of 3,007,339 shares, compared to its average volume of 7,632,665. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.42 and a current ratio of 2.01. Medtronic has a fifty-two week low of $79.29 and a fifty-two week high of $96.25. The stock's 50-day moving average price is $90.59 and its two-hundred day moving average price is $88.06. The company has a market capitalization of $118.00 billion, a PE ratio of 25.31, a PEG ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to analysts' expectations of $8.37 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. 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. As a group, sell-side analysts expect that Medtronic will post 5.46 EPS for the current year.

Insider Buying and Selling at Medtronic

In other Medtronic news, Director William R. Jellison purchased 2,500 shares of the business's stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Burkett Financial Services LLC lifted 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 worth $26,000 after purchasing an additional 185 shares during the period. 1248 Management LLC bought a new position in Medtronic during the first quarter worth about $26,000. Wood Tarver Financial Group LLC bought a new position in Medtronic during the fourth quarter worth about $27,000. Delos Wealth Advisors LLC bought a new position in Medtronic during the second quarter worth about $27,000. Finally, Columbia River Financial Group LLC bought a new position in Medtronic during the first quarter worth about $28,000. 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.