Medtronic (NYSE:MDT) Rating Increased to Buy at Wall Street Zen

Medtronic (NYSE:MDT) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other analysts have also recently commented on the company. Weiss Ratings cut Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Rothschild & Co Redburn decreased their price target on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. BTIG Research reissued a “buy” rating and set a $91.00 price target on shares of Medtronic in a report on Monday. UBS Group cut their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, June 4th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $98.21.

Medtronic Price Performance

NYSE MDT opened at $83.20 on Friday. Medtronic has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock has a market cap of $106.50 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56. The company has a 50-day moving average price of $79.50 and a two-hundred day moving average price of $87.99.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for 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%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts forecast that Medtronic will post 5.94 EPS for the current year.

Insider Activity

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction 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 transaction, the executive vice president directly owned 37,227 shares in the company, valued at $2,994,539.88. The trade was a 10.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently bought and sold shares of the stock. Lodestone Wealth Management LLC purchased a new stake in Medtronic during the fourth quarter valued at about $27,000. Anfield Capital Management LLC increased its position in shares of Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Medtronic during the fourth quarter valued at approximately $27,000. GoalVest Advisory LLC acquired a new stake in shares of Medtronic during the fourth quarter valued at approximately $29,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of Medtronic in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

About Medtronic

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).