Medtronic (NYSE:MDT) Receives Hold Rating from Needham & Company LLC

Key Points

• Needham & Company LLC has reaffirmed a "hold" rating for Medtronic (NYSE:MDT), maintaining its stance amid mixed ratings from other analysts.
• Medtronic's recent earnings report showed a quarterly revenue of $8.93 billion, surpassing analyst estimates, with an earnings per share of $1.62.
• Institutional ownership of Medtronic is significant, with 82.06% of the stock currently held by institutional investors, indicating strong investor confidence.

Medtronic (NYSE:MDT - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports.

A number of other analysts have also weighed in on MDT. William Blair raised Medtronic to a "hold" rating in a research note on Friday, July 11th. Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price objective for the company. Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Leerink Partnrs raised Medtronic to a "strong-buy" rating in a research note on Monday, June 16th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $98.19.

Medtronic Price Performance

NYSE MDT traded down $2.8940 on Thursday, reaching $89.9160. 19,167,193 shares of the company's stock traded hands, compared to its average volume of 7,725,312. Medtronic has a 12 month low of $79.29 and a 12 month high of $96.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The stock has a 50-day simple moving average of $89.43 and a 200 day simple moving average of $87.97. The stock has a market cap of $115.26 billion, a PE ratio of 24.84, a P/E/G ratio of 2.42 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%.The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently modified their holdings of MDT. Burkett Financial Services LLC increased its holdings in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after buying an additional 185 shares in the last quarter. 1248 Management LLC bought a new stake in Medtronic in the 1st quarter worth about $26,000. Wood Tarver Financial Group LLC bought a new stake in Medtronic in the 4th quarter worth about $27,000. Delos Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter worth about $27,000. Finally, Columbia River Financial Group LLC bought a new stake in Medtronic in the 1st quarter worth about $28,000. 82.06% of the stock is currently owned by institutional investors.

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.