Robert W. Baird Increases Medtronic (NYSE:MDT) Price Target to $93.00

Key Points

• Robert W. Baird raised its price target on Medtronic to $93 from $92 and kept a "neutral" rating, implying about a 6.94% upside from the current price.
• Analyst consensus is more bullish: Medtronic has an average target of $109.25 and a "Moderate Buy" consensus (16 Buys vs. 10 Holds), well above Baird's target.
• Medtronic beat the quarter with $1.36 EPS on $9.02B revenue and set FY2026 guidance of $5.62–$5.66 EPS. The stock trades near $86.96 with a $111.6B market cap, an EVP recently sold shares, and institutions own about 82% of the stock.

Medtronic (NYSE:MDT - Get Free Report) had its price target raised by research analysts at Robert W. Baird from $92.00 to $93.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has a "neutral" rating on the medical technology company's stock. Robert W. Baird's price objective indicates a potential upside of 6.94% from the company's current price.

Other research analysts also recently issued reports about the company. Stifel Nicolaus cut their price target on Medtronic from $105.00 to $95.00 and set a "hold" rating for the company in a report on Monday, April 6th. Argus cut their price target on Medtronic from $125.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 6th. UBS Group reiterated a "neutral" rating and issued a $104.00 price target on shares of Medtronic in a report on Wednesday, February 4th. Citigroup cut their price target on Medtronic from $117.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, William Blair upgraded Medtronic from a "market perform" rating to an "outperform" rating in a report on Tuesday, January 6th. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $109.25.

Medtronic Price Performance

MDT stock opened at $86.96 on Wednesday. Medtronic has a 1 year low of $79.93 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock's 50 day moving average price is $92.48 and its 200 day moving average price is $95.89. The firm has a market cap of $111.65 billion, a P/E ratio of 24.24, a PEG ratio of 2.28 and a beta of 0.75.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.Medtronic's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. On average, sell-side analysts expect that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the completion of the sale, the executive vice president directly owned 32,768 shares of the company's stock, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

Institutional Trading of Medtronic

A number of institutional investors have recently added to or reduced their stakes in MDT. Norges Bank purchased a new stake in Medtronic during the 4th quarter worth $1,653,485,000. Capital Research Global Investors boosted its position in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company's stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the period. Barclays PLC boosted its position in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company's stock worth $650,604,000 after purchasing an additional 3,492,192 shares during the period. Schroder Investment Management Group boosted its position in Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company's stock worth $717,143,000 after purchasing an additional 3,307,211 shares during the period. Finally, Guinness Asset Management LTD purchased a new stake in Medtronic during the 3rd quarter worth $275,556,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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