Medtronic (NYSE:MDT) Stock Rating Reaffirmed as Buy by TD Cowen

Medtronic (NYSE:MDT)‘s stock had its “buy” rating restated by analysts at TD Cowen in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $110.00 price target on the medical technology company’s stock. TD Cowen’s price objective suggests a potential upside of 27.30% from the stock’s previous close.

MDT has been the subject of several other reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $92.00 price target on shares of Medtronic in a research report on Thursday, September 3rd. Wells Fargo & Company boosted their target price on Medtronic from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Truist Financial reaffirmed a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Finally, Evercore set a $105.00 price target on shares of Medtronic in a research note on Monday, July 6th. Nineteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.92.

Medtronic Price Performance

Medtronic stock traded up $0.12 during mid-day trading on Wednesday, reaching $86.41. The company had a trading volume of 29,276,964 shares, compared to its average volume of 9,291,733. Medtronic has a fifty-two week low of $73.31 and a fifty-two week high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The company has a market cap of $110.53 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.98 and a beta of 0.56. The business has a fifty day simple moving average of $90.08 and a 200 day simple moving average of $84.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities research analysts predict that Medtronic will post 5.98 earnings per share for the current year.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the sale, the executive vice president owned 42,186 shares in the company, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after purchasing an additional 838,220 shares during the period. State Street Corp lifted its stake in Medtronic by 2.0% in the fourth quarter. State Street Corp now owns 61,660,158 shares of the medical technology company’s stock worth $5,966,780,000 after purchasing an additional 1,199,621 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Medtronic by 2.7% in the fourth quarter. JPMorgan Chase & Co. now owns 53,616,694 shares of the medical technology company’s stock worth $5,150,420,000 after purchasing an additional 1,419,730 shares during the last quarter. Capital Research Global Investors lifted its stake in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after purchasing an additional 3,880,174 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Medtronic by 5.4% in the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after purchasing an additional 1,343,220 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Trending Headlines about Medtronic

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: The FDA granted breakthrough-device designation to Medtronic’s investigational drug-coated balloon for below-the-knee peripheral artery disease. The designation could accelerate development and regulatory review for a product targeting a significant vascular disease market. Medtronic snags breakthrough designation for below-the-knee drug-coated balloon
• Positive Sentiment: The American Medical Association approved new Category I CPT codes for the Altaviva implantable tibial neuromodulation device and Symplicity Spyral renal-denervation system. The codes, effective in January 2028, should improve reimbursement clarity and support physician adoption of treatments for urge urinary incontinence and uncontrolled hypertension. Medtronic Receives Category I CPT Code Approvals
• Positive Sentiment: Medtronic reported FDA clearance and CE Mark milestones for cardiac mapping and ablation software, including Affera Prism-2 and PulseSelect ProxBox. The upgrades strengthen its offering in the growing pulsed-field ablation market, where Abbott, Boston Scientific and Johnson & Johnson are competing. Medtronic announces regulatory milestones for newest cardiac mapping and ablation software
• Positive Sentiment: FDA clearance for the LigaSure RAS Maryland jaw expands the instruments available for Medtronic’s Hugo robotic-surgery platform, potentially making the system more attractive to hospitals. TD Cowen also reaffirmed its buy rating and $110 price target, implying substantial upside from recent levels. Medtronic Gets FDA Clearance for LigaSure RAS Device
• Neutral Sentiment: Medtronic’s latest quarterly results exceeded analyst expectations for both earnings and revenue, but investors continue to assess the company’s forward growth outlook and guidance.
• Negative Sentiment: MDT has declined 6.4% since its most recent earnings report, reflecting concerns about estimates and near-term performance despite the earnings beat. Why Is Medtronic Down Since Last Earnings Report?
• Negative Sentiment: Unusually high put-option activity—24,238 contracts, about 45% above average—signals increased demand for downside protection or bearish speculation.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.