Evercore Issues Pessimistic Forecast for Medtronic (NYSE:MDT) Stock Price

Medtronic (NYSE:MDT) had its target price dropped by investment analysts at Evercore from $115.00 to $108.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the medical technology company’s stock. Evercore’s price objective would indicate a potential upside of 26.29% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Medtronic in a research note on Wednesday, February 4th. Leerink Partners restated an “outperform” rating and issued a $119.00 price target on shares of Medtronic in a research report on Tuesday, March 10th. Truist Financial dropped their price objective on Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. William Blair raised shares of Medtronic from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, Citigroup lowered their price target on Medtronic from $117.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $109.10.

Medtronic Stock Down 0.9%

NYSE MDT opened at $85.52 on Monday. The firm has a 50-day simple moving average of $94.18 and a 200 day simple moving average of $96.19. Medtronic has a twelve month low of $79.55 and a twelve month high of $106.33. The stock has a market cap of $109.80 billion, a PE ratio of 23.84, a PEG ratio of 2.24 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54.

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

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 32,768 shares in the company, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MDT. Artisan Partners Limited Partnership boosted its holdings in shares of Medtronic by 2.6% in the third quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after acquiring an additional 31,314 shares during the period. SageView Advisory Group LLC boosted its position in shares of Medtronic by 164.8% during the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after acquiring an additional 15,062 shares during the last quarter. CSM Advisors LLC grew its holdings in shares of Medtronic by 13.2% during the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock worth $27,169,000 after purchasing an additional 33,167 shares in the last quarter. UMB Bank n.a. increased its position in shares of Medtronic by 65.8% in the third quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after purchasing an additional 54,898 shares during the last quarter. Finally, Applied Finance Capital Management LLC purchased a new stake in Medtronic in the third quarter valued at approximately $1,308,000. 82.06% of the stock is owned by 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).