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

Medtronic (NYSE:MDT) had its price objective lowered by research analysts at Truist Financial from $110.00 to $107.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the medical technology company’s stock. Truist Financial’s price target would suggest a potential upside of 8.16% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Jefferies Financial Group reissued a “hold” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, November 19th. Weiss Ratings restated a “buy (b)” rating on shares of Medtronic in a research report on Monday. Stifel Nicolaus lifted their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, Argus boosted their target price on shares of Medtronic from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.94.

Medtronic Stock Up 0.6%

Medtronic stock traded up $0.63 during midday trading on Thursday, hitting $98.93. 791,485 shares of the stock were exchanged, compared to its average volume of 7,437,623. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $126.83 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71. Medtronic has a 52-week low of $79.29 and a 52-week high of $106.33. The business’s 50-day moving average price is $97.27 and its 200-day moving average price is $93.21.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its holdings in Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Aptus Capital Advisors LLC grew its position in shares of Medtronic by 7.8% during the 1st quarter. Aptus Capital Advisors LLC now owns 30,363 shares of the medical technology company’s stock valued at $2,728,000 after purchasing an additional 2,184 shares in the last quarter. Tradition Wealth Management LLC increased its holdings in shares of Medtronic by 1.8% in the first quarter. Tradition Wealth Management LLC now owns 18,581 shares of the medical technology company’s stock worth $1,670,000 after purchasing an additional 326 shares during the period. Level Four Advisory Services LLC increased its holdings in shares of Medtronic by 1.1% in the first quarter. Level Four Advisory Services LLC now owns 41,452 shares of the medical technology company’s stock worth $3,725,000 after purchasing an additional 470 shares during the period. Finally, GDS Wealth Management purchased a new stake in shares of Medtronic in the first quarter worth $221,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

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.