Citigroup Initiates Coverage on Medtronic (NYSE:MDT)

Research analysts at Citigroup started coverage on shares of Medtronic (NYSE:MDT) in a report released on Tuesday. The firm set a “buy” rating and a $117.00 price target on the medical technology company’s stock. Citigroup’s price target would indicate a potential upside of 13.95% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Sanford C. Bernstein lifted their price objective on Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Morgan Stanley lifted their price target on Medtronic from $107.00 to $117.00 and gave the company an “overweight” rating in a research report on Wednesday, November 19th. UBS Group boosted their price target on Medtronic from $95.00 to $102.00 and gave the company a “neutral” rating in a report on Wednesday, November 19th. Stifel Nicolaus raised their price objective on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Finally, Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.56.

Medtronic Trading Down 0.3%

Medtronic stock opened at $102.67 on Tuesday. Medtronic has a 52 week low of $79.55 and a 52 week high of $106.33. The stock has a 50-day moving average price of $99.59 and a 200 day moving average price of $95.82. 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 company has a market capitalization of $131.63 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 2.71 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings data 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 business had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Sell-side analysts anticipate that Medtronic will post 5.46 EPS for the current year.

Institutional Trading of Medtronic

Institutional investors have recently made changes to their positions in the company. Corundum Trust Company INC purchased a new stake in shares of Medtronic during the third quarter worth $27,000. Lodestone Wealth Management LLC purchased a new position in Medtronic during the fourth quarter worth approximately $27,000. Board of the Pension Protection Fund acquired a new stake in shares of Medtronic in the 4th quarter worth $29,000. GoalVest Advisory LLC acquired a new position in shares of Medtronic during the 4th quarter valued at about $29,000. Finally, Valley Wealth Managers Inc. purchased a new position in Medtronic during the third quarter worth about $29,000. 82.06% of the stock is owned by institutional investors and hedge funds.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).