Medtronic (MDT)

• Market cap: $112B
• 1 day: 1.78%
• 5 days: -0.77%
• 1 month: -2.57%
• 3 months: 4.64%
• 6 months: 3.32%
• Year to date: 5.66%
• 1 year: 18.25%
• 5 years: -21.89%
• 10 years: 26.51%
• Sector: Healthcare
• Industry: Electromedical & Electrotherapeutic Apparatus

About: One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for roughly 50% of the company's total sales.

Employees: 95,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 24 [Q2] → 30 (+6) [Q3]

11% more call options, than puts

Call options by funds: $816M | Put options by funds: $735M

8% more capital invested

Capital invested by funds: $85.9B [Q2] → $93B (+$7.16B) [Q3]

0% less funds holding

Funds holding: 1,992 [Q2] → 1,985 (-7) [Q3]

4% less first-time investments, than exits

New positions opened: 175 | Existing positions closed: 182

4.29% less ownership

Funds ownership: 83.17% [Q2] → 78.87% (-4.29%) [Q3]

16% less repeat investments, than reductions

Existing positions increased: 728 | Existing positions reduced: 869

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $87 1% downside
• Avg. target: $96 10% upside
• High target: $106 21% upside

13 analyst ratings

• positive: 5 38%
• neutral: 8 62%
• negative: 0 0%

Truist Securities Richard Newitter 66% 1-year accuracy 31 / 47 met price target	6% upside $93	Hold Maintained	14 Oct 2024
RBC Capital Shagun Singh 55% 1-year accuracy 43 / 78 met price target	20% upside $105	Outperform Upgraded	10 Oct 2024
RBC Capital Shagun Singh 55% 1-year accuracy 43 / 78 met price target	12% upside $98	Sector Perform Maintained	8 Oct 2024
Evercore ISI Group Vijay Kumar 65% 1-year accuracy 30 / 46 met price target	19% upside $104	Outperform Maintained	1 Oct 2024
Citigroup Joanne Wuensch 69% 1-year accuracy 27 / 39 met price target	5% upside $92	Neutral Maintained	1 Oct 2024