Medtronic (NYSE:MDT) Rating Lowered to “Hold” at Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also issued reports on MDT. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Medtronic in a research note on Tuesday. Truist Financial lifted their target price on shares of Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, November 20th. The Goldman Sachs Group set a $111.00 target price on shares of Medtronic and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Finally, Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $110.44.

Medtronic Stock Down 0.6%

MDT stock opened at $101.39 on Friday. Medtronic has a 52 week low of $79.29 and a 52 week high of $106.33. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $96.79 and a 200-day simple moving average of $92.18. The stock has a market capitalization of $129.99 billion, a P/E ratio of 27.33, a P/E/G ratio of 2.69 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.05. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The company had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. During the same period in the previous year, the firm posted $1.26 EPS. Medtronic’s revenue was up 6.6% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the last quarter. WBH Advisory Inc. purchased a new stake in Medtronic in the first quarter valued at $215,000. AlphaCore Capital LLC acquired a new position in shares of Medtronic in the 1st quarter valued at $529,000. Savvy Advisors Inc. grew its holdings in shares of Medtronic by 15.9% during the 1st quarter. Savvy Advisors Inc. now owns 10,931 shares of the medical technology company’s stock worth $982,000 after purchasing an additional 1,500 shares during the period. Finally, Founders Financial Alliance LLC purchased a new position in shares of Medtronic during the 1st quarter worth $212,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.