Medtronic (NYSE:MDT) Stock Gets Downgrade from Wall Street Zen

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

Other research analysts have also issued research reports about the company. UBS Group restated a “cautious” rating on shares of Medtronic in a report on Wednesday, October 14th. Mizuho set a $115.00 price target on shares of Medtronic in a research note on Wednesday, September 2nd. Weiss Ratings upgraded shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. BTIG Research dropped their price objective on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Finally, Stifel Nicolaus increased their price target on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and a consensus price target of $102.88.

Medtronic Trading Down 0.6%

MDT stock opened at $96.55 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. Medtronic has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a market cap of $123.50 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.27 and a beta of 0.55. The business’s 50-day moving average is $91.70 and its 200 day moving average is $88.34.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior 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. On average, sell-side analysts anticipate that Medtronic will post 5.98 EPS for the current fiscal year.

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $95.00, for a total transaction of $4,750,000.00. Following the completion of the transaction, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,903 shares of company stock valued at $5,889,203 in the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors and hedge funds have recently made changes to their positions in MDT. BlackRock Inc. boosted its position in shares of Medtronic by 0.7% during the second quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after buying an additional 838,220 shares during the period. 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 valued at $5,005,320,000 after buying an additional 1,658,301 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Medtronic by 5.4% in the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock valued at $2,254,200,000 after buying an additional 1,343,220 shares during the period. First Eagle Investment Management LLC raised its holdings in shares of Medtronic by 37.2% in the 2nd 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 buying an additional 3,739,288 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in shares of Medtronic in the 1st quarter valued at $965,922,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Company Profile

Medtronic plc (NYSE: MDT) is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company’s offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.