Medtronic PLC (NYSE:MDT) Receives $98.21 Consensus PT from Analysts

Medtronic PLC (NYSE:MDT) has been given a consensus rating of “Moderate Buy” by the twenty-seven brokerages that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $98.8333.

MDT has been the topic of several analyst reports. Evercore set a $105.00 target price on Medtronic in a report on Monday, July 6th. Needham & Company LLC reissued a “buy” rating and set a $101.00 target price on shares of Medtronic in a research note on Wednesday, June 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Rothschild & Co Redburn reduced their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, June 5th. Finally, Truist Financial decreased their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th.

Medtronic Trading Up 0.7%

Shares of Medtronic stock opened at $87.53 on Monday. The stock has a market cap of $112.04 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.33 and a beta of 0.56. The firm has a fifty day moving average price of $80.64 and a 200 day moving average price of $87.17. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

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

Medtronic Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.3%. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic’s payout ratio is 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Large investors have recently made changes to their positions in the stock. Curbstone Financial Management Corp boosted its position in shares of Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after buying an additional 100 shares during the period. New England Capital Financial Advisors LLC lifted its stake in Medtronic by 7.8% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company’s stock worth $135,000 after acquiring an additional 101 shares in the last quarter. Ipsen Advisor Group LLC boosted its holdings in Medtronic by 1.7% during the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company’s stock valued at $572,000 after acquiring an additional 101 shares during the period. Quadrant Capital Group LLC grew its position in Medtronic by 0.3% in the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company’s stock valued at $3,120,000 after acquiring an additional 101 shares in the last quarter. Finally, Rossby Financial LCC increased its stake in Medtronic by 5.1% during the fourth quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company’s stock worth $211,000 after purchasing an additional 107 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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).