Medtronic (NYSE:MDT) Issues Quarterly Earnings Results

Medtronic (NYSE:MDT) issued its quarterly earnings data on Thursday. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01, RTT News reports. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 earnings per share. Medtronic updated its FY25 guidance to $5.40-$5.50 EPS.

Medtronic Trading Up 1.1 %

MDT opened at $82.29 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $82.81 and its two-hundred day moving average is $82.75. The company has a market capitalization of $109.27 billion, a P/E ratio of 29.92, a PEG ratio of 2.68 and a beta of 0.78. Medtronic has a 52 week low of $68.84 and a 52 week high of $91.00.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.40%. This is a boost from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is 100.36%.

Analysts Set New Price Targets

MDT has been the subject of a number of analyst reports. Mizuho raised their price target on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and issued a $92.00 target price on shares of Medtronic in a report on Friday. UBS Group lifted their price target on shares of Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a research note on Friday. Truist Financial reduced their price objective on shares of Medtronic from $90.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $94.45.

Insiders Place Their Bets

In related news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the sale, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.30% 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.