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

Medtronic (NYSE:MDT) had its price target reduced by stock analysts at Argus from $125.00 to $115.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has a “buy” rating on the medical technology company’s stock. Argus’ target price suggests a potential upside of 32.59% from the stock’s current price.

A number of other brokerages have also recently commented on MDT. Sanford C. Bernstein boosted their price objective on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, January 9th. William Blair upgraded Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Citigroup started coverage on Medtronic in a report on Tuesday, February 3rd. They issued a “buy” rating and a $117.00 price target for the company. Daiwa Securities Group lowered their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Truist Financial cut their price target on Medtronic from $107.00 to $103.00 and set a “hold” rating on the stock in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $109.85.

Medtronic Price Performance

Shares of NYSE:MDT opened at $86.73 on Monday. The business’s 50 day simple moving average is $94.47 and its 200-day simple moving average is $96.25. The firm has a market capitalization of $111.35 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. Medtronic has a 12 month low of $79.55 and a 12 month high of $106.33.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. Medtronic’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Harry Skip Kiil sold 52,524 shares of Medtronic stock in a transaction dated 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 transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of hedge funds have recently added to or reduced their stakes in MDT. Vanguard Group Inc. boosted its stake in Medtronic by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 128,961,343 shares of the medical technology company’s stock valued at $12,388,027,000 after purchasing an additional 1,888,381 shares during the period. State Street Corp increased its stake in shares of Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock valued at $5,966,780,000 after purchasing an additional 1,199,621 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Medtronic by 2.7% during the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock valued at $5,150,420,000 after buying an additional 1,419,730 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Medtronic by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 27,879,481 shares of the medical technology company’s stock worth $2,665,832,000 after purchasing an additional 231,919 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.

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).