JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Medtronic (NYSE:MDT) Stock

Medtronic (NYSE:MDT) had its price target raised by stock analysts at JPMorgan Chase & Co. from $90.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 3.68% from the stock’s previous close.

Several other equities analysts also recently issued reports on MDT. Robert W. Baird boosted their price objective on Medtronic from $94.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. The Goldman Sachs Group reduced their price objective on shares of Medtronic from $82.00 to $81.00 and set a “sell” rating for the company in a report on Wednesday, October 1st. Stifel Nicolaus boosted their price target on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Truist Financial raised their price objective on shares of Medtronic from $96.00 to $103.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, Mizuho boosted their price objective on Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.06.

Medtronic Price Performance

Medtronic stock traded up $0.64 during mid-day trading on Thursday, hitting $96.45. 2,836,395 shares of the company were exchanged, compared to its average volume of 7,419,614. Medtronic has a 12-month low of $79.29 and a 12-month high of $99.37. The company has a market capitalization of $123.71 billion, a P/E ratio of 26.58, a PEG ratio of 2.42 and a beta of 0.77. The business’s 50 day simple moving average is $94.31 and its two-hundred day simple moving average is $90.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William R. Jellison purchased 2,500 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were bought at an average price of $92.37 per share, with a total value of $230,925.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Harry Skip Kiil sold 8,605 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total transaction of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares of the company’s stock, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

Several institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Legacy Advisory Services LLC bought a new position in Medtronic in the first quarter valued at approximately $541,000. GC Wealth Management RIA LLC increased its holdings in Medtronic by 20.6% during the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company’s stock worth $2,926,000 after buying an additional 5,734 shares during the last quarter. Verdence Capital Advisors LLC raised its position in Medtronic by 22.0% during the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company’s stock worth $2,562,000 after acquiring an additional 5,296 shares in the last quarter. World Investment Advisors grew its position in shares of Medtronic by 1.9% in the 2nd quarter. World Investment Advisors now owns 156,107 shares of the medical technology company’s stock valued at $13,608,000 after acquiring an additional 2,868 shares during the period. Finally, Sivik Global Healthcare LLC grew its position in shares of Medtronic by 6.7% in the 2nd quarter. Sivik Global Healthcare LLC now owns 80,000 shares of the medical technology company’s stock valued at $6,974,000 after acquiring an additional 5,000 shares during the period. 82.06% of the stock is currently owned by institutional investors.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.