Medtronic PLC (NYSE:MDT) Given Average Rating of “Moderate Buy” by Analysts

Medtronic PLC (NYSE:MDT) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven research firms that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $99.00.

Several research firms have issued reports on MDT. JPMorgan Chase & Co. decreased their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Sanford C. Bernstein cut their price objective on Medtronic from $112.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Jefferies Financial Group reissued a “hold” rating and set a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and issued a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th. Finally, Argus reduced their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating for the company in a report on Monday, April 6th.

Medtronic Stock Performance

NYSE:MDT opened at $79.32 on Thursday. The company has a 50-day moving average of $79.02 and a 200-day moving average of $89.23. The firm has a market cap of $101.53 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts forecast that Medtronic will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, June 26th. This is a boost from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Medtronic in the 4th quarter valued at approximately $1,653,485,000. WCM Investment Management LLC purchased a new position in Medtronic during the 1st quarter worth approximately $965,922,000. Capital Research Global Investors grew its position in Medtronic by 12.6% during the 4th 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 in the last quarter. Barclays PLC raised its stake in Medtronic by 104.6% during the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after purchasing an additional 3,492,192 shares during the period. Finally, Schroder Investment Management Group raised its stake in Medtronic by 78.3% during the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after purchasing an additional 3,307,211 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).