Needham & Company LLC Reiterates Buy Rating for Medtronic (NYSE:MDT)

Medtronic (NYSE:MDT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $120.00 target price on the medical technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 36.62% from the stock’s previous close.

Several other equities research analysts have also commented on the company. Citigroup started coverage on Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Sanford C. Bernstein lifted their price target on shares of Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. CICC Research assumed coverage on Medtronic in a report on Friday, January 30th. They set an “outperform” rating on the stock. Finally, Leerink Partners restated an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.74.

Medtronic Stock Up 1.5%

MDT opened at $87.84 on Thursday. Medtronic has a one year low of $79.55 and a one year high of $106.33. The company has a market cap of $112.77 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.22 and a beta of 0.71. The business’s fifty day moving average is $96.22 and its two-hundred day moving average is $96.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

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

Insider Activity

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the sale, the executive vice president owned 32,768 shares in the company, valued at approximately $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Medtronic

Hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Medtronic during the fourth quarter valued at $1,653,485,000. Capital Research Global Investors boosted its position in Medtronic by 12.6% during the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after acquiring an additional 3,880,174 shares during the period. Barclays PLC grew its stake in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after acquiring an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group grew its stake in Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after acquiring an additional 3,307,211 shares in the last quarter. Finally, Guinness Asset Management LTD acquired a new position in shares of Medtronic in the 3rd quarter valued at about $275,556,000. Hedge funds and other institutional investors 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).