Medtronic (NYSE:MDT) Upgraded to Buy 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 report published on Saturday morning.

Other analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of Medtronic from $118.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. TD Cowen reduced their target price on shares of Medtronic from $119.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 10th. BTIG Research restated a “buy” rating and set a $91.00 price target on shares of Medtronic in a research note on Monday, July 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Finally, The Goldman Sachs Group dropped their price objective on Medtronic from $84.00 to $83.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Seventeen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $98.21.

Medtronic Stock Performance

MDT stock opened at $83.20 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $106.50 billion, a PE ratio of 22.30, a P/E/G ratio of 2.23 and a beta of 0.56. The business has a 50 day moving average of $79.50 and a 200-day moving average of $87.99. Medtronic has a 12-month low of $73.31 and a 12-month high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.01. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business’s revenue 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, sell-side analysts expect that Medtronic will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. Medtronic’s dividend payout ratio is presently 77.21%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president owned 37,227 shares of the company’s stock, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Monetary Solutions Ltd purchased a new position in Medtronic during the fourth quarter valued at approximately $27,000. Lodestone Wealth Management LLC purchased a new stake in Medtronic in the 4th quarter worth approximately $27,000. Anfield Capital Management LLC lifted its stake in Medtronic by 410.7% in the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Medtronic in the 4th quarter valued at $29,000. Finally, GoalVest Advisory LLC bought a new position in Medtronic in the 4th quarter valued at $29,000. 82.06% of the stock is currently owned by institutional investors.

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).