Medtronic PLC (NYSE:MDT) Given Average Recommendation of “Moderate Buy” by Brokerages

Medtronic PLC (NYSE:MDT) has earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are covering the company, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $110.4444.

A number of analysts recently weighed in on the stock. Daiwa Capital Markets raised their target price on shares of Medtronic from $104.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, November 25th. Sanford C. Bernstein set a $111.00 target price on Medtronic in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Medtronic in a research report on Monday, December 8th. Citigroup boosted their price objective on Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Finally, Stifel Nicolaus raised their target price on shares of Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a report on Thursday, October 9th.

Medtronic Price Performance

NYSE:MDT opened at $99.86 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $97.27 and its 200 day moving average price is $92.88. Medtronic has a 52-week low of $79.29 and a 52-week high of $106.33. The firm has a market cap of $128.02 billion, a P/E ratio of 26.92, a PEG ratio of 2.63 and a beta of 0.71.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, sell-side analysts predict that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, December 26th. Medtronic’s payout ratio is presently 76.55%.

Institutional Trading of Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Medtronic by 1.5% in the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after acquiring an additional 1,895,165 shares during the last quarter. State Street Corp grew its stake in Medtronic by 1.0% in the third quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock valued at $5,800,550,000 after purchasing an additional 625,992 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Medtronic by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after purchasing an additional 192,410 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Medtronic by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock valued at $2,008,278,000 after buying an additional 98,220 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Company Profile

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.