Barclays Boosts Medtronic (NYSE:MDT) Price Target to $120.00

Medtronic (NYSE:MDT) had its price target upped by stock analysts at Barclays from $118.00 to $120.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the medical technology company’s stock. Barclays‘s price target would suggest a potential upside of 39.78% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on MDT. UBS Group restated a “neutral” rating and set a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 4th. Truist Financial lowered their price target on Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Leerink Partners restated an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research report on Tuesday, March 10th. Robert W. Baird reduced their price objective on Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.85.

Medtronic Price Performance

MDT stock traded down $0.80 during midday trading on Wednesday, reaching $85.85. The company had a trading volume of 4,580,607 shares, compared to its average volume of 8,456,468. Medtronic has a 1-year low of $79.55 and a 1-year high of $106.33. The stock has a 50 day moving average price of $95.34 and a 200-day moving average price of $96.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company has a market capitalization of $110.22 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the firm earned $1.38 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. The trade was a 61.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Medtronic

A number of hedge funds have recently made changes to their positions in the company. Purpose Unlimited Inc. bought a new stake in Medtronic during the 4th quarter worth approximately $8,182,000. Rockefeller Capital Management L.P. raised its stake in shares of Medtronic by 19.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 719,949 shares of the medical technology company’s stock valued at $69,159,000 after acquiring an additional 118,110 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Medtronic by 5.7% during the fourth quarter. World Investment Advisors now owns 167,403 shares of the medical technology company’s stock worth $16,081,000 after purchasing an additional 8,961 shares during the period. Winthrop Partners WNY LLC acquired a new position in shares of Medtronic during the fourth quarter worth $1,223,000. Finally, Meadowbrook Advisors Group LLC bought a new stake in shares of Medtronic in the fourth quarter worth $2,156,000. 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).