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

Key Points

• Medtronic has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen amid varying assessments from other analysts, with a mix of buy, hold, and sell ratings currently in place.
• Despite the upgrade, Goldman Sachs lowered its price target for Medtronic shares from $82.00 to $81.00, indicating a "sell" rating, while other analysts have increased their targets, suggesting a wide range of expectations for the stock's performance.
• Medtronic reported quarterly earnings of $1.26 per share, exceeding estimates, with revenue of $8.58 billion, reflecting a 7.7% year-over-year increase.

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

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their target price on shares of Medtronic from $82.00 to $81.00 and set a "sell" rating for the company in a research report on Wednesday, October 1st. Daiwa Capital Markets upped their price objective on shares of Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. Sanford C. Bernstein lifted their target price on shares of Medtronic from $97.00 to $98.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. UBS Group boosted their target price on Medtronic from $94.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $111.00 price target on shares of Medtronic in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Medtronic has an average rating of "Moderate Buy" and an average price target of $102.82.

Medtronic Trading Down 0.5%

Shares of MDT opened at $93.76 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The stock has a market cap of $120.26 billion, a PE ratio of 25.83, a PEG ratio of 2.48 and a beta of 0.78. Medtronic has a 1 year low of $79.29 and a 1 year high of $99.37. The stock has a 50 day simple moving average of $94.32 and a 200-day simple moving average of $89.33.

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

Insider Buying and Selling

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

Institutional Trading of Medtronic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. MGO One Seven LLC lifted its position in Medtronic by 374.4% during the 3rd quarter. MGO One Seven LLC now owns 100,206 shares of the medical technology company's stock valued at $9,544,000 after purchasing an additional 79,085 shares during the period. Nexus Investment Management ULC grew its position in shares of Medtronic by 26.0% during the 3rd quarter. Nexus Investment Management ULC now owns 293,403 shares of the medical technology company's stock worth $27,944,000 after buying an additional 60,614 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Medtronic by 134.1% during the third quarter. Citizens Financial Group Inc. RI now owns 70,928 shares of the medical technology company's stock worth $6,755,000 after buying an additional 40,625 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Medtronic by 669.0% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,575 shares of the medical technology company's stock valued at $714,000 after buying an additional 6,590 shares during the period. Finally, Tema Etfs LLC boosted its stake in Medtronic by 76.6% in the third quarter. Tema Etfs LLC now owns 36,325 shares of the medical technology company's stock valued at $3,460,000 after acquiring an additional 15,757 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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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