Brokerages Set Medtronic PLC (NYSE:MDT) Price Target at $103.92

Medtronic PLC (NYSE:MDT) has been given a consensus recommendation of “Moderate Buy” by the twenty-eight research firms that are presently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $103.92.

Several brokerages have recently commented on MDT. Leerink Partners decreased their price target on Medtronic from $117.00 to $104.00 and set an “outperform” rating on the stock in a research note on Thursday, June 4th. Truist Financial reaffirmed a “hold” rating and set a $99.00 price objective (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Bank of America upped their target price on Medtronic from $95.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Finally, UBS Group raised their price target on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd.

Medtronic Stock Performance

Shares of MDT opened at $91.80 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Medtronic has a 52-week low of $73.31 and a 52-week high of $106.33. The company has a 50-day simple moving average of $89.08 and a 200-day simple moving average of $84.90. The company has a market capitalization of $117.43 billion, a PE ratio of 22.61, a P/E/G ratio of 2.10 and a beta of 0.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Equities research analysts predict that Medtronic will post 5.97 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is presently 70.94%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the transaction, the executive vice president owned 42,186 shares in the company, valued at approximately $3,950,718.90. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Medtronic

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Medtronic in the fourth quarter valued at $1,653,485,000. WCM Investment Management LLC purchased a new position in Medtronic during the first quarter worth about $965,922,000. Capital Research Global Investors boosted its stake in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in Medtronic by 37.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after buying an additional 3,739,288 shares during the last quarter. Finally, Cullen Capital Management LLC purchased a new stake in Medtronic in the 2nd quarter valued at about $202,764,000. 82.06% of the stock is currently owned by institutional investors and hedge funds.

About Medtronic

Medtronic plc is a global medical technology company that develops, manufactures and sells devices and therapies used to diagnose and treat a broad range of medical conditions. Its products are designed for hospitals, physicians and patients across areas including cardiac care, diabetes, neurological disorders, spinal conditions and surgical procedures.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, heart valves, neurostimulation systems, implantable pumps, spinal implants and surgical technologies.