Medtronic PLC (NYSE:MDT) Stock Has Consensus Target Price of $102.88

Medtronic PLC (NYSE:MDT) has received a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $102.88.

Several research firms have recently commented on MDT. Mizuho set a $115.00 target price on Medtronic in a research note on Wednesday, September 2nd. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, September 30th. Robert W. Baird increased their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Weiss Ratings upgraded Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Finally, Stifel Nicolaus raised their price target on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research note on Wednesday, September 2nd.

Insiders Place Their Bets

In other news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $95.00, for a total value of $4,750,000.00. Following the sale, the chief executive officer directly owned 277,866 shares in the company, valued at $26,397,270. This trade represents a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,903 shares of company stock valued at $5,889,203 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Trading of Medtronic

Institutional investors and hedge funds have recently made changes to their positions in the company. Activest Wealth Management raised its holdings in Medtronic by 470.9% during the third quarter. Activest Wealth Management now owns 314 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 259 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in Medtronic in the second quarter valued at about $30,000. Team Financial Group LLC acquired a new position in Medtronic during the third quarter worth approximately $31,000. Avion Wealth lifted its holdings in Medtronic by 97.8% during the 3rd quarter. Avion Wealth now owns 362 shares of the medical technology company’s stock worth $31,000 after buying an additional 179 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new position in Medtronic in the second quarter valued at about $32,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Trading Down 2.9%

NYSE:MDT opened at $101.82 on Wednesday. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The stock has a fifty day simple moving average of $92.70 and a 200 day simple moving average of $88.45. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $130.24 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.32 and a beta of 0.56.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Sell-side analysts forecast that Medtronic will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is presently 70.94%.

Medtronic Company Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products.

The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.

Medtronic is headquartered in Dublin, Ireland, and maintains significant operations in Minnesota, where the company was founded.