Medtronic (NYSE:MDT) Stock Rating Lowered by Wall Street Zen

Medtronic (NYSE:MDT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

MDT has been the topic of several other reports. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Truist Financial lifted their target price on Medtronic from $103.00 to $110.00 and gave the stock a “hold” rating in a research report on Thursday, November 20th. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the company a “neutral” rating in a report on Wednesday, November 19th. Leerink Partners set a $120.00 target price on Medtronic and gave the company an “outperform” rating in a research report on Wednesday, November 19th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $110.44.

Medtronic Price Performance

Shares of NYSE MDT opened at $101.39 on Friday. The stock’s 50-day simple moving average is $96.79 and its 200-day simple moving average is $92.28. The firm has a market capitalization of $129.99 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.71. Medtronic has a fifty-two week low of $79.29 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, equities research analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $1,432,698,000. Boston Partners lifted its holdings in Medtronic by 122.8% in the first quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock valued at $619,460,000 after acquiring an additional 3,809,450 shares during the period. Barclays PLC boosted its position in shares of Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after purchasing an additional 3,492,192 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after purchasing an additional 3,461,221 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Medtronic by 78.3% in 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 purchasing an additional 3,307,211 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.