Analysts Set Medtronic PLC (NYSE:MDT) Target Price at $109.94

Medtronic PLC (NYSE:MDT) has been given a consensus recommendation of “Moderate Buy” by the twenty-six brokerages that are presently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $110.2778.

A number of equities research analysts have issued reports on MDT shares. Stifel Nicolaus raised their target price on Medtronic from $90.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Leerink Partners set a $120.00 price objective on shares of Medtronic and gave the stock an “outperform” rating in a report on Wednesday, November 19th. Piper Sandler reissued a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Daiwa Capital Markets raised their price target on shares of Medtronic from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Barclays lifted their price target on Medtronic from $111.00 to $116.00 and gave the company an “overweight” rating in a report on Thursday.

Medtronic Stock Performance

Shares of MDT stock opened at $96.92 on Thursday. The company has a market cap of $124.26 billion, a P/E ratio of 26.13, a PEG ratio of 2.57 and a beta of 0.71. The business has a 50 day moving average of $98.44 and a two-hundred day moving average of $94.65. Medtronic has a 52 week low of $79.55 and a 52 week high of $106.33. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts anticipate that Medtronic will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s payout ratio is 76.55%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sax Wealth Advisors LLC bought a new position in Medtronic in the 4th quarter valued at about $325,000. Czech National Bank raised its position in shares of Medtronic by 3.9% during the 4th quarter. Czech National Bank now owns 338,206 shares of the medical technology company’s stock worth $32,488,000 after buying an additional 12,791 shares in the last quarter. Cullen Investment Group LTD. lifted its stake in shares of Medtronic by 12.2% in the 4th quarter. Cullen Investment Group LTD. now owns 104,479 shares of the medical technology company’s stock worth $10,191,000 after acquiring an additional 11,375 shares during the period. Optivise Advisory Services LLC boosted its holdings in shares of Medtronic by 31.5% in the fourth quarter. Optivise Advisory Services LLC now owns 2,873 shares of the medical technology company’s stock valued at $276,000 after acquiring an additional 689 shares in the last quarter. Finally, Salvus Wealth Management LLC increased its stake in shares of Medtronic by 1.4% during the fourth quarter. Salvus Wealth Management LLC now owns 8,197 shares of the medical technology company’s stock valued at $787,000 after acquiring an additional 110 shares during the period. 82.06% of the stock is owned by institutional investors and hedge funds.

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).