Medtronic (NYSE:MDT) Upgraded to “Buy” at Needham & Company LLC

Medtronic (NYSE:MDT) was upgraded by equities researchers at Needham & Company LLC from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $121.00 price objective on the medical technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 17.60% from the stock’s previous close.

A number of other research firms have also recently issued reports on MDT. JPMorgan Chase & Co. increased their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Truist Financial decreased their price objective on Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Finally, Morgan Stanley increased their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.21.

Medtronic Trading Down 0.1%

NYSE MDT opened at $102.89 on Monday. The stock has a market capitalization of $131.91 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.71 and a beta of 0.71. The business has a 50 day simple moving average of $99.40 and a 200 day simple moving average of $96.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic has a one year low of $79.55 and a one year high of $106.33.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. Corundum Trust Company INC purchased a new stake in shares of Medtronic during the third quarter worth $27,000. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic during the 4th quarter valued at $27,000. Anfield Capital Management LLC lifted its holdings in Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in Medtronic during the 4th quarter worth about $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic in the 4th quarter worth about $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

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).