Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Other equities analysts have also issued research reports about the stock. Mizuho lifted their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $111.00 price target on shares of Medtronic in a report on Friday, October 10th. Evercore ISI lifted their price target on shares of Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Medtronic in a report on Wednesday, October 8th. Finally, Daiwa Capital Markets boosted their target price on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Performance

Shares of Medtronic stock opened at $94.09 on Friday. Medtronic has a fifty-two week low of $79.29 and a fifty-two week high of $99.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50. The firm has a market capitalization of $120.69 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.47 and a beta of 0.78. The company’s 50 day moving average price is $94.35 and its two-hundred day moving average price is $89.48.

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

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio is presently 78.24%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Medtronic

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

About Medtronic

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.