Piper Sandler Issues Pessimistic Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price target dropped by research analysts at Piper Sandler from $105.00 to $91.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical technology company’s stock. Piper Sandler’s target price indicates a potential upside of 5.07% from the stock’s current price.

A number of other research analysts have also commented on MDT. CICC Research initiated coverage on Medtronic in a report on Friday, January 30th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. Robert W. Baird cut their target price on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Wells Fargo & Company assumed coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price target on shares of Medtronic in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.85.

Medtronic Trading Up 0.6%

Shares of NYSE:MDT opened at $86.61 on Wednesday. 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 is $94.76 and its 200-day moving average is $96.27. The company has a market cap of $111.19 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.22 and a beta of 0.75. Medtronic has a 52-week low of $79.55 and a 52-week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Insider Activity at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

A number of hedge funds have recently made changes to their positions in MDT. Artisan Partners Limited Partnership grew its position in Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock valued at $117,579,000 after acquiring an additional 31,314 shares during the period. SageView Advisory Group LLC lifted its holdings in shares of Medtronic by 164.8% during the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares during the period. CSM Advisors LLC lifted its holdings in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after acquiring an additional 33,167 shares during the period. UMB Bank n.a. boosted its stake in shares of Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after purchasing an additional 54,898 shares in the last quarter. Finally, Applied Finance Capital Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth about $1,308,000. 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).