Medtronic (NYSE:MDT) Stock Price Target Cut by BTIG Research

Medtronic (NYSE:MDT) had its target price dropped by analysts at BTIG Research from $100.00 to $99.00 in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a “buy” rating on the medical technology company’s stock. BTIG Research’s price objective would indicate a potential upside of 6.76% from the stock’s current price.

MDT has been the subject of a number of other reports. Barclays raised shares of Medtronic to a “hold” rating in a report on Wednesday, October 7th. Wells Fargo & Company raised their target price on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Stifel Nicolaus boosted their price target on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a report on Thursday, September 17th. Finally, Mizuho set a $115.00 price target on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.88.

Medtronic Price Performance

Shares of Medtronic stock opened at $92.73 on Monday. The firm has a fifty day simple moving average of $90.51 and a 200-day simple moving average of $84.84. 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 1-year low of $73.31 and a 1-year high of $106.33. The stock has a market capitalization of $118.62 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 2.09 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping 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 net margin of 13.93% and a return on equity of 14.78%. Medtronic’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. 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 expect that Medtronic will post 5.98 earnings per share for the current year.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the company’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 of the company’s stock, valued at approximately $3,950,718.90. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.

Institutional Trading of Medtronic

Hedge funds have recently made changes to their positions in the business. Gradient Investments LLC grew its position in Medtronic by 3.9% during the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after acquiring an additional 18,509 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock worth $12,918,000 after purchasing an additional 19,315 shares in the last quarter. Czech National Bank raised its position in Medtronic by 4.7% in the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after purchasing an additional 16,292 shares during the last quarter. Worth Asset Management LLC bought a new position in Medtronic in the third quarter valued at about $1,056,000. Finally, Congress Asset Management Co. bought a new position in Medtronic in the third quarter valued at about $76,201,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed exchange offer oversubscribed: Medtronic said its exchange offer for MiniMed Group shares was oversubscribed and that it will exchange all of its remaining 252.8 million MiniMed shares. The transaction, subject to final results, could simplify Medtronic’s portfolio and provide greater clarity around the diabetes business. The reported proration rate was 18.3%. Medtronic Announces Preliminary Results of MiniMed Group, Inc. Exchange Offer
• Positive Sentiment: Favorable industry growth outlook: Research forecasts call for the global mHealth solutions market to expand from $109.05 billion in 2026 to $275.44 billion by 2031. Medtronic is identified as a key participant, potentially benefiting from increased adoption of connected-care and remote-monitoring technologies. mHealth Solutions Market Forecasts Growth
• Positive Sentiment: Analyst remains bullish: BTIG lowered its price target modestly from $100 to $99 but maintained a “buy” rating, leaving meaningful potential upside from recent trading levels. Medtronic Price Target Cut by BTIG Research
• Neutral Sentiment: A separate industry report projects roughly 17% annual growth in the bioelectronic medicine device market through 2030, with Medtronic among the companies advancing neurostimulation technologies. The opportunity is supportive, though the report does not provide company-specific financial estimates. Global Bioelectronic Medicine Device Market Report
• Negative Sentiment: Short interest increased: Rising short interest signals that more investors are positioning for weakness, although it can also create the possibility of future short-covering if Medtronic continues to outperform. Medtronic Sees Increase in Short Interest

Medtronic Company Profile

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.