Medtronic (MDT)

• Market cap: $103B
• 1 day: 0.26%
• 5 days: -1.50%
• 1 month: -7.45%
• 3 months: -10.13%
• 6 months: 3.52%
• Year to date: -3.32%
• 1 year: -3.32%
• 5 years: -30.09%
• 10 years: 11.42%
• 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)

29% more funds holding in top 10

Funds holding in top 10: 24 [Q2] → 31 (+7) [Q3]

22% more first-time investments, than exits

New positions opened: 180 | Existing positions closed: 148

10% more call options, than puts

Call options by funds: $818M | Put options by funds: $741M

9% more capital invested

Capital invested by funds: $88.1B [Q2] → $96B (+$7.92B) [Q3]

2% more funds holding

Funds holding: 1,993 [Q2] → 2,025 (+32) [Q3]

3.92% less ownership

Funds ownership: 85.34% [Q2] → 81.43% (-3.92%) [Q3]

16% less repeat investments, than reductions

Existing positions increased: 742 | Existing positions reduced: 887

Research analyst outlook

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

• Low target: $89 11% upside
• Avg. target: $99 23% upside
• High target: $109 36% upside

6 analyst ratings

• positive: 4 67%
• neutral: 2 33%
• negative: 0 0%

Truist Securities Richard Newitter 71% 1-year accuracy 30 / 42 met price target	11% upside $89	Hold Maintained	18 Dec 2024
Barclays Matt Miksic 67% 1-year accuracy 24 / 36 met price target	36% upside $109	Overweight Maintained	26 Nov 2024
Bernstein Lee Hambright 67% 1-year accuracy 4 / 6 met price target	21% upside $97	Outperform Maintained	20 Nov 2024
Wells Fargo Larry Biegelsen 48% 1-year accuracy 22 / 46 met price target	22% upside $98	Overweight Maintained	20 Nov 2024
Baird David Rescott 67% 1-year accuracy 8 / 12 met price target	16% upside $93	Neutral Maintained	20 Nov 2024