Medtronic (NYSE:MDT) Stock Rating Reaffirmed as Buy by TD Cowen

Medtronic (NYSE:MDT)‘s stock had its “buy” rating reiterated by investment analysts at TD Cowen in a research note issued on Wednesday, MarketBeat reports. They presently have a $110.00 target price on the medical technology company’s stock. TD Cowen’s price objective would suggest a potential upside of 24.97% from the stock’s current price.

Several other research firms also recently commented on MDT. Weiss Ratings raised Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 4th. UBS Group upped their price objective on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group reduced their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, June 4th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, Evercore set a $105.00 price objective on Medtronic in a research note on Monday, July 6th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $103.92.

Medtronic Stock Performance

Shares of MDT stock traded up $1.64 during trading hours on Wednesday, hitting $88.02. The stock had a trading volume of 28,062,318 shares, compared to its average volume of 9,521,883. The firm has a market capitalization of $112.59 billion, a PE ratio of 21.67, a PEG ratio of 1.97 and a beta of 0.55. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33. The stock’s 50 day moving average is $90.15 and its 200 day moving average is $84.76. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 1.54.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, research analysts forecast that Medtronic will post 5.98 earnings per share for the current fiscal year.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Institutional investors and hedge funds have recently modified their holdings of the company. Monetary Solutions Ltd acquired a new stake in shares of Medtronic in the 4th quarter worth approximately $27,000. Modus Advisors LLC acquired a new stake in shares of Medtronic in the 4th quarter worth approximately $36,000. IAG Wealth Partners LLC acquired a new stake in shares of Medtronic in the 2nd quarter worth approximately $30,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Medtronic in the 2nd quarter worth approximately $32,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Medtronic in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.