Medtronic PLC (NYSE:MDT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Medtronic PLC (NYSE:MDT) have earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $98.8333.

MDT has been the subject of a number of research analyst reports. Rothschild & Co Redburn decreased their price objective on shares of Medtronic from $111.00 to $106.00 and set a “buy” rating for the company in a report on Friday, June 5th. Piper Sandler reissued a “neutral” rating and set a $85.00 target price on shares of Medtronic in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “outperform” rating and set a $118.00 price target on shares of Medtronic in a research note on Thursday, June 4th. Wells Fargo & Company lowered their price target on shares of Medtronic from $114.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, June 4th. Finally, Citigroup reduced their price objective on Medtronic from $117.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, April 7th.

Insider Transactions at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the sale, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after purchasing an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares in the last quarter. Jump Financial LLC purchased a new stake in Medtronic during the 2nd quarter worth about $299,000. Main Street Financial Solutions LLC boosted its stake in Medtronic by 28.9% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after purchasing an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC boosted its stake in Medtronic by 21.3% in the 2nd quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after purchasing an additional 3,376 shares during the period. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Down 0.1%

Shares of NYSE:MDT opened at $85.64 on Monday. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market capitalization of $109.62 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.30 and a beta of 0.56. The business has a fifty day moving average price of $80.94 and a two-hundred day moving average price of $87.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62.

Medtronic (NYSE:MDT) last released its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $9.81 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Medtronic had a return on equity of 14.51% and a net margin of 13.20%.The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Analysts forecast that Medtronic will post 5.94 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were issued a $0.72 dividend. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. This represents a $2.88 annualized dividend and a yield of 3.4%. Medtronic’s payout ratio is 77.21%.

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).