Wall Street Zen Upgrades Medtronic (NYSE:MDT) to "Buy"

Key Points

• Wall Street Zen upgraded Medtronic from “hold” to “buy”, adding to a generally positive analyst backdrop for the stock.
• Other analysts remain mixed: Jefferies kept a hold rating, UBS cut its target to $85, and TD Cowen trimmed its target to $100, while the overall consensus is still “Moderate Buy” with a $98.21 price target.
• Medtronic recently beat quarterly expectations, reporting $1.55 EPS on $9.81 billion in revenue, with revenue up 9.9% year over year; the stock opened at $83.20 and trades below its 200-day average of $87.99.

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

A number of other equities analysts have also recently weighed in on MDT. Jefferies Financial Group reissued a "hold" rating and issued a $88.00 price objective on shares of Medtronic in a research report on Thursday, June 4th. UBS Group dropped their target price on Medtronic from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. TD Cowen cut their price target on Medtronic from $119.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Weiss Ratings downgraded Medtronic from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Finally, Argus cut their target price on Medtronic from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.21.

Medtronic Stock Performance

Shares of NYSE:MDT opened at $83.20 on Friday. The business's 50-day simple moving average is $79.50 and its 200 day simple moving average is $87.99. The company has a market cap of $106.50 billion, a P/E ratio of 22.30, a PEG ratio of 2.24 and a beta of 0.56. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. Medtronic has a one year low of $73.31 and a one year high of $106.33.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.Medtronic's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, sell-side analysts forecast that Medtronic will post 5.94 earnings per share for the current fiscal year.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently added to or reduced their stakes in the business. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the 4th quarter worth approximately $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC boosted its position in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 230 shares during the period. Board of the Pension Protection Fund bought a new position in Medtronic during the 4th quarter worth $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic during the 4th quarter worth $29,000. Institutional investors and hedge funds own 82.06% of the company's stock.

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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