Medtronic (NYSE:MDT) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research note published on Sunday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on MDT. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Medtronic in a report on Wednesday, September 30th. Stifel Nicolaus upped their price target on shares of Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Bank of America raised their price target on shares of Medtronic from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, Piper Sandler reissued a “neutral” rating on shares of Medtronic in a report on Wednesday, October 14th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Medtronic presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Medtronic Price Performance

MDT opened at $101.82 on Friday. The stock has a market capitalization of $130.24 billion, a PE ratio of 25.08, a P/E/G ratio of 2.38 and a beta of 0.56. The company’s 50 day simple moving average is $92.70 and its 200 day simple moving average is $88.45. 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 0.50, a quick ratio of 1.54 and a current ratio of 2.07.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.06. The company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous 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. As a group, sell-side analysts expect that Medtronic will post 5.98 EPS for the current year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a dividend of $0.72 per share. 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 payout ratio is presently 70.94%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Kiil sold 1,483 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the completion of the sale, the executive vice president owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. This trade represents a 8.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 61,903 shares of company stock worth $5,889,203. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Medtronic

Hedge funds have recently modified their holdings of the business. Diversified Trust Co grew its holdings in shares of Medtronic by 14.6% in the 3rd quarter. Diversified Trust Co now owns 115,378 shares of the medical technology company’s stock worth $9,956,000 after purchasing an additional 14,720 shares during the last quarter. EagleClaw Capital Managment LLC lifted its stake in shares of Medtronic by 5.2% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 71,390 shares of the medical technology company’s stock valued at $6,160,000 after purchasing an additional 3,545 shares during the period. Moors & Cabot Inc. boosted its holdings in Medtronic by 10.3% during the third quarter. Moors & Cabot Inc. now owns 68,621 shares of the medical technology company’s stock worth $5,921,000 after buying an additional 6,388 shares during the last quarter. Valmark Advisers Inc. boosted its holdings in Medtronic by 2.1% during the third quarter. Valmark Advisers Inc. now owns 5,758 shares of the medical technology company’s stock worth $497,000 after buying an additional 121 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its holdings in Medtronic by 0.4% during the third quarter. Money Concepts Capital Corp now owns 55,424 shares of the medical technology company’s stock worth $4,783,000 after buying an additional 243 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

About Medtronic

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.