Citigroup Has Lowered Expectations for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its price objective reduced by investment analysts at Citigroup from $117.00 to $110.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the medical technology company’s stock. Citigroup’s price target indicates a potential upside of 28.63% from the company’s current price.

MDT has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Sanford C. Bernstein lifted their price objective on shares of Medtronic from $111.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Leerink Partners reissued an “outperform” rating and issued a $119.00 price objective on shares of Medtronic in a research note on Tuesday, March 10th. William Blair raised Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Wells Fargo & Company assumed coverage on Medtronic in a research report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.10.

Medtronic Trading Down 0.9%

NYSE:MDT opened at $85.52 on Tuesday. Medtronic has a 12 month low of $79.55 and a 12 month high of $106.33. The company has a market cap of $109.80 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $94.18 and a two-hundred day simple moving average of $96.19.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic will post 5.46 earnings per share for the current year.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Medtronic in the 4th quarter valued at approximately $1,653,485,000. Capital Research Global Investors boosted its position in shares of Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Barclays PLC grew its stake in Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after acquiring an additional 3,492,192 shares during the last quarter. Schroder Investment Management Group raised its position in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock worth $717,143,000 after acquiring an additional 3,307,211 shares during the last quarter. Finally, Guinness Asset Management LTD acquired a new stake in shares of Medtronic during the 3rd quarter worth $275,556,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

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).