Medtronic (NYSE:MDT) Price Target Cut to $91.00 by Analysts at Piper Sandler

Medtronic (NYSE:MDT) had its target price lowered by analysts at Piper Sandler from $105.00 to $91.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the medical technology company’s stock. Piper Sandler’s target price suggests a potential upside of 5.73% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Sanford C. Bernstein upped their target price on Medtronic from $111.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Robert W. Baird reduced their price objective on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Daiwa Securities Group decreased their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a report on Friday, February 27th. William Blair upgraded shares of Medtronic from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 6th. Finally, Wells Fargo & Company assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “overweight” rating and a $114.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.75.

Medtronic Stock Down 0.7%

NYSE MDT traded down $0.58 during trading on Wednesday, hitting $86.07. 4,454,036 shares of the company traded hands, compared to its average volume of 8,453,467. Medtronic has a 12 month low of $79.55 and a 12 month high of $106.33. The business has a fifty day simple moving average of $95.34 and a 200 day simple moving average of $96.41. 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 market capitalization of $110.50 billion, a P/E ratio of 23.98, a PEG ratio of 2.21 and a beta of 0.71.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. The company had revenue of $9.02 billion during the quarter, compared to the consensus estimate of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. 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 EPS for the current year.

Insider Transactions 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 shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the transaction, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the period. Sivia Capital Partners LLC increased its position in shares of Medtronic by 9.6% during the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after purchasing an additional 381 shares during the period. VestGen Advisors LLC raised its stake in shares of Medtronic by 22.3% in the second quarter. VestGen Advisors LLC now owns 3,233 shares of the medical technology company’s stock valued at $282,000 after purchasing an additional 589 shares in the last quarter. Van Hulzen Asset Management LLC boosted its stake in Medtronic by 26.2% during the second quarter. Van Hulzen Asset Management LLC now owns 6,387 shares of the medical technology company’s stock worth $557,000 after buying an additional 1,326 shares in the last quarter. Finally, Westerkirk Capital Inc. bought a new stake in Medtronic in the 2nd quarter valued at $616,000. 82.06% of the stock is currently 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).