Analysts’ Recent Ratings Changes for Medtronic (MDT)

A number of research firms have changed their ratings and price targets for Medtronic (NYSE: MDT):

• 11/26/2024 – Medtronic had its price target raised by analysts at Barclays PLC from $105.00 to $109.00. They now have an “overweight” rating on the stock.
• 11/20/2024 – Medtronic had its price target lowered by analysts at Wells Fargo & Company from $106.00 to $98.00. They now have an “overweight” rating on the stock.
• 11/20/2024 – Medtronic had its price target raised by analysts at Sanford C. Bernstein from $96.00 to $97.00. They now have an “outperform” rating on the stock.
• 11/20/2024 – Medtronic had its price target lowered by analysts at Robert W. Baird from $96.00 to $93.00. They now have a “neutral” rating on the stock.
• 11/18/2024 – Medtronic had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 11/15/2024 – Medtronic had its price target lowered by analysts at JPMorgan Chase & Co. from $99.00 to $96.00. They now have a “neutral” rating on the stock.
• 11/15/2024 – Medtronic had its price target raised by analysts at Robert W. Baird from $90.00 to $96.00.
• 10/25/2024 – Medtronic had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 10/14/2024 – Medtronic had its price target raised by analysts at Truist Financial Co. from $90.00 to $93.00. They now have a “hold” rating on the stock.
• 10/10/2024 – Medtronic was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $105.00 price target on the stock, up previously from $98.00.
• 10/8/2024 – Medtronic had its price target raised by analysts at Royal Bank of Canada from $92.00 to $98.00. They now have a “sector perform” rating on the stock.
• 10/1/2024 – Medtronic had its price target raised by analysts at Evercore ISI from $100.00 to $104.00. They now have an “outperform” rating on the stock.
• 10/1/2024 – Medtronic had its price target raised by analysts at Citigroup Inc. from $85.00 to $92.00. They now have a “neutral” rating on the stock.

Medtronic Price Performance

MDT stock traded up $0.92 during midday trading on Wednesday, reaching $86.60. The stock had a trading volume of 1,536,734 shares, compared to its average volume of 6,268,896. The company’s fifty day simple moving average is $88.85 and its 200 day simple moving average is $84.95. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The company has a market cap of $111.06 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.84. Medtronic plc has a 52-week low of $75.96 and a 52-week high of $92.68.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. As a group, sell-side analysts predict that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. Fortitude Family Office LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Darwin Wealth Management LLC acquired a new stake in shares of Medtronic in the 3rd quarter worth $27,000. Lynx Investment Advisory acquired a new stake in shares of Medtronic in the 2nd quarter worth $28,000. Finally, J. Stern & Co. LLP acquired a new stake in shares of Medtronic in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

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.