Analysts Set Medtronic PLC (NYSE:MDT) PT at $98.83

Shares of Medtronic PLC (NYSE:MDT) have been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $98.8333.

Several equities analysts recently issued reports on MDT shares. TD Cowen cut their price objective on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 10th. UBS Group upgraded Medtronic from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $100.00 in a report on Tuesday, July 28th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medtronic in a research report on Tuesday, August 18th. Finally, Wells Fargo & Company cut their price target on Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th.

Medtronic Stock Up 0.1%

Shares of Medtronic stock opened at $93.44 on Friday. 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 has a 1 year low of $73.31 and a 1 year high of $106.33. The firm’s 50-day moving average is $84.39 and its two-hundred day moving average is $85.94. The stock has a market cap of $119.60 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.50 and a beta of 0.55.

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

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. Medtronic’s dividend payout ratio (DPR) is presently 77.21%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The stock was 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 $2,994,539.88. The trade was a 10.11% 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. 0.27% of the stock is owned by company insiders.

Institutional Trading of Medtronic

Several hedge funds have recently modified their holdings of the company. Anfield Capital Management LLC lifted its position in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Monetary Solutions Ltd purchased a new position in Medtronic in the fourth quarter worth $27,000. Acumen Wealth Advisors LLC acquired a new position in shares of Medtronic during the fourth quarter worth $29,000. IAG Wealth Partners LLC acquired a new position in shares of Medtronic during the second quarter worth $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Medtronic during the 3rd quarter valued at $31,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

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).