Barclays Upgrades Medtronic (NYSE:MDT) to “Hold”

Medtronic (NYSE:MDT) was upgraded by equities researchers at Barclays to a “hold” rating in a research note issued to investors on Wednesday, Zacks reports.

MDT has been the topic of several other research reports. Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. Piper Sandler restated a “neutral” rating on shares of Medtronic in a research note on Monday, August 10th. BTIG Research upped their target price on Medtronic from $91.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Finally, TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, September 30th. Eighteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

Medtronic Stock Performance

Shares of MDT opened at $87.72 on Wednesday. The stock has a market capitalization of $112.20 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.95 and a beta of 0.55. The business’s fifty day moving average price is $90.22 and its 200 day moving average price 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 has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results 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 firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. Equities research analysts forecast that Medtronic will post 5.98 EPS for the current year.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in MDT. BlackRock Inc. raised its stake in Medtronic by 0.7% during the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock valued at $8,919,846,000 after acquiring an additional 838,220 shares in the last quarter. State Street Corp grew its stake in shares of Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock worth $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after purchasing an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC acquired a new position in shares of Medtronic during the first quarter valued at $965,922,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed split-off nears completion: Medtronic finalized a 4.5939-to-1 exchange ratio and will offer up to 225.4 million MiniMed shares in exchange for Medtronic shares. Depending on investor participation, approximately 49.1 million to 55.0 million Medtronic shares could be accepted, potentially reducing the share count and sharpening the company’s focus on its core medical-device operations. Medtronic Announces Final Exchange Ratio
• Positive Sentiment: Growth and strategic outlook: Recent coverage points to strong financial results, accelerated growth trends, updated guidance and strategic collaborations. Medtronic is expanding in advanced systems and technologies, supporting management’s goal of becoming a diversified, multi-platform medical-technology company. Is Medtronic On Its Way to Become a Multi-Platform Powerhouse?
• Positive Sentiment: Cardiac-ablation momentum: Medtronic appointed Felicia Kurz to lead its cardiac-ablation business as demand grows for its pulsed-field-ablation devices. The leadership move highlights momentum in electrophysiology, an important growth area for the company. Medtronic Names Felicia Kurz
• Positive Sentiment: Income appeal: Analysts continue to highlight Medtronic’s relatively attractive dividend yield and its potential to achieve “Dividend King” status after another year of dividend increases, which may support demand from income-focused investors. Medtronic Is Just 1 Year From Dividend King Status
• Neutral Sentiment: Analyst stance improved modestly: Barclays raised its rating to “Hold,” reducing potential pressure on the stock but stopping short of a bullish recommendation. Published analyst price targets remain mixed, with a median target above the recent trading level.
• Neutral Sentiment: Mixed institutional signals: Recent filings showed both sizable additions and reductions by major investment firms, suggesting disagreement about valuation and the pace of Medtronic’s transformation.
• Negative Sentiment: Insider selling: Company insiders reported sales, with no purchases during the cited six-month period. This is a secondary concern but may temper enthusiasm among some investors.

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.