Medtronic (NYSE:MDT) Given New $96.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised its price target for Medtronic (NYSE:MDT) from $94.00 to $96.00, indicating a potential upside of 6.77% from its previous close while maintaining a "neutral" rating.
• Medtronic's recent earnings report showed an EPS of $1.26, beating estimates, with revenues of $8.58 billion, which was higher than analyst expectations.
• The consensus rating for Medtronic among analysts is "Moderate Buy," with 11 hold ratings, 9 buy ratings, and 2 strong buy ratings, reflecting continued interest from investors.

Medtronic (NYSE:MDT - Get Free Report) had its target price increased by equities researchers at Robert W. Baird from $94.00 to $96.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the medical technology company's stock. Robert W. Baird's price objective points to a potential upside of 3.65% from the company's previous close.

MDT has been the topic of a number of other research reports. Mizuho boosted their target price on Medtronic from $98.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Citigroup upped their price target on Medtronic from $98.00 to $99.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Morgan Stanley reiterated an "overweight" rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Leerink Partners initiated coverage on Medtronic in a research note on Monday, June 16th. They set an "outperform" rating and a $110.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic has an average rating of "Moderate Buy" and an average target price of $101.15.

Medtronic Stock Up 1.7%

NYSE MDT traded up $1.5210 on Wednesday, reaching $92.6210. The stock had a trading volume of 4,870,626 shares, compared to its average volume of 7,618,189. The business has a 50 day moving average price of $89.73 and a 200 day moving average price of $88.03. The company has a current ratio of 1.85, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. Medtronic has a 1 year low of $79.29 and a 1 year high of $96.25. The company has a market capitalization of $118.72 billion, a price-to-earnings ratio of 25.52, a P/E/G ratio of 2.31 and a beta of 0.80.

Medtronic (NYSE:MDT - Get Free Report) last issued its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The business's quarterly 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. On average, analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Trading of Medtronic

Several hedge funds have recently added to or reduced their stakes in MDT. 1248 Management LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $26,000. Burkett Financial Services LLC lifted its position in shares of 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 acquiring an additional 185 shares during the period. Delos Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter worth approximately $27,000. Columbia River Financial Group LLC bought a new stake in shares of Medtronic in the 1st quarter worth approximately $28,000. Finally, Twin Tree Management LP bought a new stake in shares of Medtronic in the 1st quarter worth approximately $29,000. 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.