Medtronic (NYSE:MDT) Stock, Quote.Headers.trade-ideas

Medtronic

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.

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Joshua Brown of Ritholtz Wealth Management named 3M Co. as his final trade on CNBC&#39;s Halftime Report, while other experts shared picks like Visa and Medtronic.

3M, Visa, Medtronic And More On CNBC&#39;s &#39;Final Trades&#39;

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Medtronic recalls devices over battery risks that could lead to explosions and updates usage instructions.

Medtronic Recalls Some Video Laryngoscopes Due To Increased Risk For Battery Overheat, Explosion

Medtronic_Headquarters-Photo by Tony Webster via Wikimedia Commons

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Medtronic Analysts Boost Their Forecasts After Upbeat Earnings

Medtronic PLC

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Reported Earlier, Axonics Prevails In Patent Dispute With Medtronic, Jury Confirms No Infringement On Three Patent

Medtronic's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) short percent of float has risen 22.86% since its last report. The company recently reported that it has 16.50 million shares sold short, which is 1.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.39 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Medtronic Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726166710_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Medtronic has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Medtronic's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Medtronic's peer group average for short interest as a percentage of float is 4.57%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into Medtronic's Recent Short Interest

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/09/10/final-trades-3m-visa-medtronic-and-the-sphd.html">Halftime Report Final Trades</a>,&#8221; Joshua Brown of Ritholtz Wealth Management named 3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), which <a href="https://www.benzinga.com/quote/MMM/analyst-ratings">recorded gains on Tuesday</a>.
On Sept. 6, Morgan Stanley analyst Chris Snyder initiated coverage on 3M with an Underweight rating and announced a price target of $125.
Kevin Simpson of Capital Wealth Planning said he likes Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>).
On Sept. 4, Compass Point analyst Dominick Gabriele initiated coverage on Visa with a Buy rating and announced a price target of $319.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Jenny Van Leeuwen Harrington of Gilman Hill Asset Management, LLC said Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) has a 3% dividend yield.
On Aug. 20, Medtronic reported better-than-expected results for its first quarter. The company posted first-quarter 2025 sales of $7.92 billion, beating the consensus of $7.89 billion. The medical device maker reported adjusted EPS of $1.23, beating the consensus of $1.20. Revenue increased 2.8% year over year, as reported, and 5.3% organic.
Liz Young of SoFi named Invesco S&amp;P 500 High Dividend Low Volatility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPHD#NYSE">SPHD</a>) as her final trade.
Price Action:
<ul>
<li>3M gained 1.3% to close at $130.09 during Tuesday's session.</li>
<li>Visa shares fell 0.1% to settle at $285.34 on Tuesday.</li>
<li>Medtronic shares rose 0.4% to close at $90.99.</li>
<li>Invesco S&amp;P 500 High Dividend Low Volatility ETF rose 0.2% during Tuesday's session.</li>
</ul>
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Photo: Shutterstock

3M, Visa, Medtronic And More On CNBC's 'Final Trades'

NDAQ

CNBC Halftime Report Final Trades: Nasdaq, Visa, Medtronic, Invesco S&P 500 High Dividend Low Volatility ETF

Thursday, Medtronic Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) said it is recalling certain devices and updating use instructions for another due to the possibility that the battery may deplete below its <a target="_blank" href="https://www.benzinga.com/quote/MDT" rel="noreferrer noopener">designed threshold</a>.
If this happens, it increases the risk of battery instability and may lead to increased battery temperature and a potential explosion.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40462317/medical-devices-giant-medtronic-q1-earnings-revenue-and-eps-beat-lifts-annual-guidance-marginally-o" rel="noreferrer noopener">Medical Devices Giant Medtronic Q1 Earnings: Revenue And EPS Beat, Lifts Annual Guidance Marginally On Sustained Growth From New Product Launches</a>.
The use of the affected product may cause serious adverse health consequences, including burns, cuts (lacerations), scarring and other tissue injuries, tooth loss, eye injury, damaged hearing (impairment or acoustic shock), or ringing in the ears (tinnitus), respiratory failure, lack of oxygen to the body (hypoxia), scarring, and death.&nbsp;
There has been one reported injury. There have been no reports of death.&nbsp;&nbsp;
This&nbsp;<a target="_blank" href="https://www.fda.gov/medical-devices/medical-device-recalls/laryngoscope-recall-medtronic-removes-certain-mcgrath-mac-video-laryngoscopes-updates-use" rel="noreferrer noopener">recall</a> involves removing certain devices from where they are used or sold.&nbsp;The FDA has identified this recall as the most serious type.
This&nbsp;recall&nbsp;also involves updating instructions for using other models of these devices.
The McGrath MAC and MAC EMS Video Laryngoscopes are used to help care providers see into the trachea during a medical procedure. The devices include a light source and a miniature camera to view the voice box (larynx) during&nbsp;laryngoscopy, a procedure that allows a doctor to examine the larynx (voice box) and nearby structures.
Wednesday, Baxter International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) <a target="_blank" href="https://www.fda.gov/medical-devices/medical-device-recalls/lung-therapy-component-recall-baxter-healthcare-corporation-recalls-certain-volara-system-single" rel="noreferrer noopener">said</a> it would recall certain Single-Patient Use Circuits and Blue Ventilator Adapter Assemblies due to reports that the handset plug within these components may disconnect from the nebulizer port on the blue ventilator adapter.
When using the Volara system in line with a ventilator and without a nebulizer connected to the blue ventilator adapter, the handset plug is required for proper operation and gas flow.
If the plug is disconnected, the ventilator may not provide enough ventilation to the patient.
The Volara System is intended for use with patients who are using a ventilator to help them breathe.
The Single Patient Use Circuit and Blue Adapter Assembly are patient circuit components that connect the Volara System to the ventilator. They are sold separately from the system.&nbsp;
Price Action: MDT stock is down 1.36% at $89.79 at last check Thursday.
Image via Shutterstock
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FDA Says Abbott Diabetes Care Inc. Issues Recall For Certain Freestyle Libre 3 Sensors Due To Risk For Inaccurate High Glucose Readings; Medtronic Removes Some McGRATH Mac Video Laryngoscopes, Updates Use Instructions For Others Due To Increased Risk For Battery Overheat & Explosion

PaceMate&#xAE;, a pioneer in <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pacemate.com&amp;esheet=54113436&amp;newsitemid=20240827737585&amp;lan=en-US&amp;anchor=cardiac+data+management&amp;index=1&amp;md5=4618706a54a5bcdd543d536a401065e4">cardiac data management</a> and remote monitoring, announced today the acquisition of the Paceart Optima&#x2122; system, an on-premises cardiac workflow solution from Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) This strategic move significantly expands PaceMate's reach globally, adding nearly 1,000 clinic locations worldwide. This further enhances PaceMate's ability to provide the leading and most comprehensive <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fpacemate.com%2F&amp;esheet=54113436&amp;newsitemid=20240827737585&amp;lan=en-US&amp;anchor=cardiac+remote+monitoring+solution&amp;index=2&amp;md5=1f61f71f5716c49904c4290635327636">cardiac remote monitoring solution</a>, continuing its position as the preferred partner in advanced cardiac data management.

Asset Sales

PaceMate Acquires Medtronic's Paceart Optima System; No Financial Terms Disclosed

Truist Securities analyst Richard Newitter maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Hold and raises the price target from $85 to $90.

Truist Securities Maintains Hold on Medtronic, Raises Price Target to $90

Barclays analyst Matt Miksic maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Overweight and raises the price target from $104 to $105.

Barclays Maintains Overweight on Medtronic, Raises Price Target to $105

Medtronic Receives FDA Approval For Expanded MRI Labeling On Percept PC, Percept RC, And Activa PC, RC, SC Devices

Oppenheimer analyst Steven Lichtman maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Perform and raises the price target from $92 to $94.

Oppenheimer Maintains Perform on Medtronic, Raises Price Target to $94

Piper Sandler analyst Matt O'Brien maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Neutral and raises the price target from $85 to $90.

Piper Sandler Maintains Neutral on Medtronic, Raises Price Target to $90

RBC Capital analyst Shagun Singh reiterates Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Sector Perform and maintains $92 price target.

Reiteration

RBC Capital Reiterates Sector Perform on Medtronic, Maintains $92 Price Target

Wells Fargo analyst Larry Biegelsen maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Overweight and raises the price target from $105 to $106.

Wells Fargo Maintains Overweight on Medtronic, Raises Price Target to $106

Medtronic Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) reported better-than-expected results for its <a href="https://www.benzinga.com/news/earnings/24/08/40462317/medical-devices-giant-medtronic-q1-earnings-revenue-and-eps-beat-lifts-annual-guidance-marginally-o">first quarter on Tuesday.</a>
The company posted first-quarter 2025 sales of $7.92 billion, beating the consensus of $7.89 billion. The medical device maker reported adjusted EPS of $1.23, beating the consensus of $1.20. Revenue increased 2.8% year over year, as reported, and 5.3% organic.
"Overall revenue outperformance flowed through to the bottom line, with adjusted EPS ahead of expectations," said Gary Corona, Medtronic's interim chief financial officer. "We're raising our guidance today as we expect to sustain growth from new product introductions, continue to make the investments to support those launches, and deliver on our commitment to restore earnings power."
Medtronic revised its fiscal year 2025 adjusted EPS guidance to $5.42 – $5.50, compared to prior guidance of $5.40 – $5.50 and consensus of $5.44. The company sees fiscal year 2025 organic revenue growth of 4.5% – 5% compared to prior guidance of 4% – 5%.
Medtronic shares gained 0.7% to close at $85.38 on Tuesday.
These analysts made changes to their price targets on Medtronic following earnings announcement.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/591c741c290fa70001b157cc/rick-wise">Stifel analyst Rick Wise </a>maintained Medtronic with a Hold and raised the price target from $85 to $87.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="425" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184-1024x425.png" alt="" class="wp-image-506284" style="width:439px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184-1024x425.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184-300x125.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184-768x319.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184-1536x638.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/21091928/image-184.png 1787w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Baird analyst David Rescott maintained Medtronic with a Neutral and raised the price target from $82 to $90.
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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Jefferies raised the price target for BrightView Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) from $13 to $17. Jefferies analyst Stephanie Moore upgraded the stock from Hold to Buy. BrightView shares fell 2.9% to close at $14.54 on Tuesday. <a href="https://www.benzinga.com/quote/BV/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wells Fargo cut the price target for Sonoco Products Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>) from $54 to $52. Wells Fargo analyst Gabe Hajde downgraded the stock from Equal-Weight to Underweight. Sonoco shares fell 0.5% to close at $50.57 on Tuesday. <a href="https://www.benzinga.com/quote/SON/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup raised Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) price target from $200 to $235. Citigroup analyst Christopher Danely upgraded the stock from Neutral to Buy. Texas Instruments shares gained 0.9% to close at $202.54 on Tuesday. <a href="https://www.benzinga.com/quote/TXN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird boosted the price target for Medtronic plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) from $82 to $90. Baird analyst David Rescott maintained a Neutral rating. Medtronic shares gained 0.7% to close at $85.38 on Tuesday. <a href="https://www.benzinga.com/quote/MDT/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) price target from $98 to $100. Morgan Stanley analyst Andrew Percoco maintained an Equal-Weight rating. Enphase Energy shares fell 2.3% to close at $116.98 on Tuesday. <a href="https://www.benzinga.com/quote/ENPH/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities slashed Cogent Communications Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCOI#NASDAQ">CCOI</a>) price target from $75 to $65. B of A Securities analyst David Barden downgraded the stock from Neutral to Underperform. Cogent Communications shares fell 1.4% to close at $74.73 on Tuesday. <a href="https://www.benzinga.com/quote/CCOI/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Mizuho increased the price target for Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) from $44 to $47. Mizuho analyst John Roberts upgraded the stock from Neutral to Outperform. Corning shares gained 0.3% to close at $40.73 on Tuesday. <a href="https://www.benzinga.com/quote/GLW/analyst-ratings">See how other analysts view this stock.</a></li>
<li>CLSA cut Vipshop Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VIPS#NYSE">VIPS</a>) price target from $15.8 to $12. CLSA analyst Leo You downgraded the stock from Outperform to Hold. Vipshop shares dipped 17.6% to close at $11.56 on Tuesday. <a href="https://www.benzinga.com/quote/VIPS/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Raymond James boosted Agree Realty Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) price target from $70 to $81. Raymond James analyst RJ Milligan maintained a Strong Buy rating. Agree Realty shares fell 0.2% to close at $72.17 on Tuesday. <a href="https://www.benzinga.com/quote/ADC/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Maxim Group slashed Dermata Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRMA#NASDAQ">DRMA</a>) price target from $10 to $6. Maxim Group analyst Anthony Vendetti maintained a Buy rating. Dermata Therapeutics shares fell 6.1% to close at $2.02 on Tuesday. <a href="https://www.benzinga.com/quote/DRMA/analyst-ratings">See how other analysts view this stock.</a></li>
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Baird analyst David Rescott maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Neutral and raises the price target from $82 to $90.

Baird Maintains Neutral on Medtronic, Raises Price Target to $90

Stifel analyst Rick Wise maintains Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) with a Hold and raises the price target from $85 to $87.

Stifel Maintains Hold on Medtronic, Raises Price Target to $87

It&#8217;s a relatively uneventful session on Wall Street, but with a slightly worsening risk sentiment as all U.S. equity indices traded in the red at around midday trading in New York. If the S&amp;P 500 and Nasdaq 100 close lower today, it will break their current eight-day winning streak, a run that has nearly erased the losses <a href="https://www.benzinga.com/markets/equities/24/08/40450395/s-p-500-nasdaq-100-extend-8-session-winning-streak-as-wall-street-jitters-go-poof-mondays-key-st">sustained earlier this month.</a>
Traders remain cautious as they await key economic events later this week. On Wednesday morning, the Bureau of Labor Statistics will release its &#8220;2024 Preliminary Benchmark Revision to Establishment Data,&#8221; which will include non-farm payroll revisions covering the period from April 2023 to March 2024.
Later in the day, at 2 p.m. E.T., the Federal Reserve will release the minutes from the July Federal Open Market Committee (FOMC) meeting.
The Jackson Hole Symposium kicks off on Thursday, where Fed officials are expected to make headlines during media interviews. On Friday, Fed Chair Jerome Powell will take center stage<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech"> with a live address at 10:00 a.m. ET.</a>
Small caps underperformed large cap on Tuesday, and nine out of 11 S&amp;P 500 sectors were in negative territory, with the exclusion of healthcare and consumer staples.
A measure of the U.S. dollar fell 0.4%, tumbling to the lowest level since late December 2023. The Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>) is experiencing its worst three-day performance year-to-date.
Treasury yields also fell, with more significant declines at the long end of the curve. The long-dated iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) rose 0.8%, poised for its third consecutive session in the green and the seventh in the last eight.
Meanwhile, gold remained steady at record-high levels of $2,500 per ounce, while oil prices declined by another 0.5%, marking their third straight drop. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) slipped 1.2% to $58,755.
<h1 class="wp-block-heading">Tuesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,596.06</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>40,798.22</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,688.81</td>
<td>-0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,142.31</td>
<td>-1.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
<h1 class="wp-block-heading">According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent082024&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:</h1>
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;was 0.3% lower to $558.24.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 0.1% to $408.70.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) edged 0.4% lower to $479.50.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 1.3% to $212.42.</li>
<li>The Consumer Staples Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>) and The Health Care Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, both up by 0.3%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down by 2.1%.</li>
</ul>
<h1 class="wp-block-heading">Tuesday&#8217;s Stock Movers</h1>
<ul>
<li>Palo Alto Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PANW#NASDAQ">PANW</a>) rallied 8.6% in reaction to its better-than-expected quarterly results. </li>
<li>Other stocks reacting to company earnings were Lowes Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), down 1.3%, Medtronic plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) up 1.9%, Fabrinet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FN#NYSE">FN</a>) up 19%. </li>
<li>PayPal Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) rose 3.1% after JPMorgan Chase &amp; Co. raised the stock price target from $77 to $80. </li>
<li>Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) rose by 2% after the company reported that a three-year phase 3 study demonstrated that weekly tirzepatide injections reduced the risk of developing type 2 diabetes by 94% in obese or overweight adults with pre-diabetes, compared to those who received a placebo.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) tumbled over 4% after announcing that it is grounding its 777X test fleet due to issues discovered in an engine mounting structure.</li>
</ul>
Read Now:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40466528/jackson-hole-preview-5-important-questions-ahead-of-jerome-powells-fed-speech">Jackson Hole Preview: 5 Important Questions Ahead Of Jerome Powell&#8217;s Fed Speech</a></li>
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Wall Street Eases, Bonds Rise, US Dollar Falls To 8-Month Low: What's Driving Markets Tuesday?

Medtronic plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdt#NYSE">MDT</a>) is scheduled to report first-quarter fiscal 2025 results on Aug 20, before the opening bell.
In the last reported quarter, the company&#39;s adjusted earnings of $1.46 exceeded the Zacks Consensus Estimate by 0.69%. Medtronic beat estimates in each of the trailing four quarters, the average surprise being 4.48%.
The Zacks Consensus Estimate for fiscal first-quarter revenues is pegged at $7.90 billion, suggesting growth of 2.5% year over year. The consensus estimate for first-quarter earnings is pegged at $1.20 per share, indicating no change on a year-over-year basis.
<h3>Estimate Trend</h3>
Earnings estimates for Medtronic have remained unchanged at $1.20 per share for the fiscal first quarter over the past 60 days.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/32/74604.jpg?v=757625008" style="border-style:solid; border-width:1px; height:310px; width:600px" /> 
Image Source: Zacks Investment Research
Let&#39;s look at how things have shaped up for Medtronic before the announcement.
<h3>Mixed Trend Ahead of Q1 Earnings</h3>
Since the past several quarters, Medtronic&#39;s earnings growth has been held back by headwinds like cost escalation and currency impacts. Although inflation stabilized a bit during the fiscal fourth quarter, it is still higher than the historical trend. The continued rise in raw material and labor costs, as well as oil price volatility, has been denting the company&#39;s profit. Further, a rising interest rate leading to increasing borrowing costs is concerning. In the fourth quarter of fiscal 2024, gross margin contracted 56 basis points to 64.6% on a 2.1% rise in the cost of revenues. Further, selling, general and administrative expenses rose 5.7% year over year. Adjusted operating margin contracted 251 bps year over year to 24.5%.
Like its peers, the impact of the present geopolitical situation, including sanctions and other measures being imposed in response to the Russia-Ukraine conflict, may have impacted fiscal first-quarter profits.
Added to this, unfavorable currency movements have been a major dampener over the last few quarters, as in the case of other important MedTech players too. Medtronic expects its fiscal 2025 first-quarter revenues to reflect an unfavorable impact of $85 million to $135 million from currency translation.
Despite these challenges, Medtronic has consistently showcased the resilience of its underlying business fundamentals, delivering mid-single-digit organic revenue growth for several quarters in a row. While its recent product launches are driving growth across multiple businesses, a swift pace of several compelling product approvals promises consistent growth in the years to come.
Particularly, the company&#39;s AFib, Structural Heart, robotics, neuromodulation, hypertension and diabetes businesses are expected to have registered growth in the to-be-reported quarter, banking on several new product launches. Among the company&#39;s Established Market Leaders, the company might have witnessed growth through the Cranial &amp; Spinal Technologies segment on the increasing adoption of AiBLE, Medtronic&#39;s spine technology ecosystem. Further, Mazor Robotics, StealthStation navigation, O-arm Imaging and Midas Rex powered surgical instruments are expected to have witnessed growth.
In Cardiac Pacing Therapies, the Micra leadless pacemaker franchise is expected to have recorded strong growth driven by the adoption of its latest generation, Micra AV2 and VR2. In Defibrillation Solutions, the Aurora EV-ICD&#39;s adoption is expected to have remained strong in the fiscal first quarter. Within Surgical, the company is expected to have seen strong growth within Advanced Energy product lines.
The Zacks Consensus Estimate for MDT&#39;s overall Cardiovascular business revenues in the first quarter of fiscal 2025 indicates a 2.6% year-over-year improvement.
Among the company&#39;s Synergistic businesses, Medtronic is expected to report strong growth within Cardiac Surgery, ENT and Endoscopy segments. Pelvic Health, Coronary, Peripheral Vascular and Neuromodulation too are expected to have registered growth in the first quarter.
Among Medtronic&#39;s Highest Growth Markets businesses, the company is likely to have gained traction within the Cardiac Ablation Solutions arm, driven by the strong sales of Pulse Field ablation products, which are more than offsetting declines in the cryo product line.
Medtronic&#39;s Diabetes unit recorded strong growth in the United States in the fiscal fourth quarter, with the global adoption of the MiniMed 780G system driving performance. This trend is also likely to have continued in the fiscal first quarter.
The Zacks Consensus Estimate for MDT&#39;s Diabetes arm revenues indicates an improvement of 6.1% year over year in the first quarter of fiscal 2025.
<h3>What Does Our Model Say?</h3>
Our proven model does not conclusively predict an earnings beat for Medtronic this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. However, that&#39;s not the case here.
MDT has an Earnings ESP of 0.00% and carries a Zacks Rank of 4 (Sell) currently.
<h3>Bigger Picture</h3>
In recent years, the company has made some foundational changes to the organization, including streamlining the operating model, improving global operations, supply chain and quality, and bringing in expertise from outside the industry. It is actively allocating capital to fast-growth MedTech markets and fueling innovative technologies in areas like robotics, AI and closed-loop systems that ensure its growth over the next decade.
Medtronic&#39;s revenues have improved and become more durable from implementing a performance-driven culture and changing incentives underlying the new product approvals in major markets. With top priority placed on restoring the company&#39;s earnings power, these actions are expected to eventually result in better-leveraged earnings growth through margin stabilization and improvement.&nbsp;
Medtronic&#39;s highest growth opportunities, comprising 20% of its revenues, are in markets that are large and growing faster than the overall company. For example, in Cardiac Ablation, it has significantly invested in the Electrophysiology arm to expand its share in the attractive $8 billion-plus market.
Further, in Diabetes, Medtronic&#39;s MiniMed 780G system recently gained a CE Mark for use with the Simplera Sync sensor and received FDA approval in August 2024. Within Structural Heart, the new Evolut FX system favorably positions the company in the $6 billion-plus TAVR (transcatheter aortic valve replacement) market. In March 2024, the Evolut FX+ TAVR system gained the FDA&#39;s approval for the treatment of symptomatic severe aortic stenosis.
<h3>Shares Underperform Industry and S&amp;P</h3>
In the fiscal first quarter, Medtronic stock lost 0.1% in contrast to the industry&#39;s 1.1% growth and the S&amp;P 500&#39;s rise of 8.2%.
<h3>Q1 Price Comparison</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d1/74605.jpg?v=1263401542" style="border-style:solid; border-width:1px; height:310px; width:600px" /> 
Image Source: Zacks Investment Research
<h3>Cheap Valuation</h3>
If we look at the value components, MDT has a Value Score&nbsp;of B at present.
This is evident from the Price/Earnings ratio. MDT shares currently trade at 15.27X forward earnings, well off its five-year high of 30.08X and below the median of 17.51X. The stock is also trading significantly below the industry&#39;s 20.84X.
The company is also trading at a significant discount to other industry players like Boston Scientific Corporation, with its current P/E being 30.18, and Abbott (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abt#NYSE">ABT</a>), whose current P/E is 22.39X. This suggests that investors may be paying a lower price relative to the company&#39;s expected earnings growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/59/74606.jpg?v=438939871" style="border-style:solid; border-width:1px; height:310px; width:600px" /> 
Image Source: Zacks Investment Research
<h3>To Conclude</h3>
While Medtronic holds immense potential for long-term growth, given its momentum, ongoing comprehensive transformation, breakthrough innovations and exposure to strong secular growth markets, the company battles significant headwinds from macroeconomic issues and rising expenses, which can significantly dent its bottom-line growth. For now, it might be prudent for investors to avoid buying the stock and monitor MDT&#39;s upcoming results for a better entry point.
<a href="https://www.zacks.com/stock/news/2323880/should-you-buy-sell-or-hold-medtronic-mdt-before-q1-earnings?cid=CS-BENZ-FT-analyst_blog|most_popular_stocks-2323880">To read this article on Zacks.com click here.</a>

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