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

Medtronic PLC (NYSE:MDT) has earned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $98.2083.

Several research firms recently issued reports on MDT. Barclays raised their price target on Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. TD Cowen dropped their price objective on Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 10th. UBS Group cut their target price on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th. Robert W. Baird decreased their target price on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Finally, Wells Fargo & Company decreased their target price on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, June 4th.

Insider Activity

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the transaction, the executive vice president owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

Several large investors have recently modified their holdings of MDT. Madison Asset Management LLC lifted its position in shares of Medtronic by 15.0% in the 4th quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company’s stock worth $18,752,000 after purchasing an additional 25,527 shares during the period. Ticino Wealth purchased a new position in shares of Medtronic during the fourth quarter valued at about $2,049,000. First Eagle Investment Management LLC increased its position in shares of Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company’s stock valued at $939,009,000 after buying an additional 40,196 shares during the period. KBC Group NV raised its stake in Medtronic by 5.2% in the fourth quarter. KBC Group NV now owns 430,508 shares of the medical technology company’s stock worth $41,354,000 after buying an additional 21,384 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Medtronic by 12.7% in the fourth quarter. Cerity Partners LLC now owns 791,015 shares of the medical technology company’s stock worth $75,988,000 after buying an additional 89,111 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Stock Down 0.1%

Shares of NYSE:MDT opened at $83.12 on Monday. The stock’s 50-day moving average price is $80.15 and its 200-day moving average price is $87.45. Medtronic has a 12-month low of $73.31 and a 12-month high of $106.33. The stock has a market capitalization of $106.40 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 2.23 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 (NYSE:MDT) last released its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts anticipate that Medtronic will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were issued a $0.72 dividend. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a yield of 3.5%. Medtronic’s payout ratio is 77.21%.

About Medtronic

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).