Medtronic PLC (NYSE:MDT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Medtronic PLC (NYSE:MDT) have been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $102.1429.

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada decreased their price objective on Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Leerink Partners assumed coverage on Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 price objective for the company. Robert W. Baird raised their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Morgan Stanley restated an “overweight” rating and issued a $107.00 price objective (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday, August 20th.

Medtronic Stock Performance

MDT opened at $94.13 on Friday. The business’s 50-day moving average price is $91.39 and its two-hundred day moving average price is $88.26. Medtronic has a 1 year low of $79.29 and a 1 year high of $96.25. The company has a market capitalization of $120.74 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 2.43 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be issued a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Activity

In related news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of Medtronic stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares of the company’s stock, valued at $3,261,621.70. The trade was a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock worth $11,062,693,000 after purchasing an additional 1,895,165 shares during the period. Geode Capital Management LLC grew its holdings in Medtronic by 1.1% during the second quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock worth $2,448,699,000 after purchasing an additional 310,684 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Medtronic by 7.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company’s stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the period. Bank of New York Mellon Corp grew its holdings in Medtronic by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 21,275,850 shares of the medical technology company’s stock worth $1,854,616,000 after purchasing an additional 595,549 shares during the period. Finally, Deutsche Bank AG lifted its position in Medtronic by 3.1% during the first quarter. Deutsche Bank AG now owns 19,009,795 shares of the medical technology company’s stock worth $1,708,220,000 after acquiring an additional 566,155 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.