Medtronic (NYSE:MDT) Coverage Initiated at Wells Fargo & Company

Investment analysts at Wells Fargo & Company started coverage on shares of Medtronic (NYSE:MDT) in a research note issued to investors on Friday, MarketBeat reports. The brokerage set an “overweight” rating and a $114.00 price target on the medical technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 12.01% from the company’s previous close.

Other equities analysts have also issued reports about the company. Piper Sandler restated a “neutral” rating on shares of Medtronic in a report on Monday, January 5th. Daiwa Capital Markets increased their price objective on Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Morgan Stanley boosted 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Medtronic has a consensus rating of “Moderate Buy” and an average price target of $110.28.

Medtronic Stock Up 0.8%

NYSE:MDT traded up $0.78 during mid-day trading on Friday, reaching $101.78. The stock had a trading volume of 2,143,220 shares, compared to its average volume of 7,566,929. The stock has a market cap of $130.48 billion, a P/E ratio of 27.43, a PEG ratio of 2.66 and a beta of 0.71. The business’s 50 day moving average is $99.57 and its 200 day moving average is $95.55. 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 fifty-two week low of $79.55 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during 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%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Delos Wealth Advisors LLC bought a new stake in shares of Medtronic during the second quarter valued at approximately $27,000. Corundum Trust Company INC acquired a new position in shares of Medtronic in the 3rd quarter valued at $27,000. Lodestone Wealth Management LLC bought a new stake in Medtronic in the fourth quarter valued at about $27,000. Valley Wealth Managers Inc. acquired a new position in Medtronic in the third quarter worth about $29,000. Finally, Board of the Pension Protection Fund bought a new position in Medtronic during the fourth quarter worth about $29,000. 82.06% of the stock is currently owned by institutional investors.

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).