Robert W. Baird Forecasts Strong Price Appreciation for Medtronic (NYSE:MDT) Stock

Medtronic (NYSE:MDT) had its price target upped by Robert W. Baird from $94.00 to $96.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the medical technology company’s stock.

MDT has been the subject of a number of other reports. Leerink Partnrs raised shares of Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Royal Bank Of Canada reduced their target price on shares of Medtronic from $105.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Leerink Partners assumed coverage on shares of Medtronic in a report on Monday, June 16th. They issued an “outperform” rating and a $110.00 target price for the company. Finally, Evercore ISI upped their target price on shares of Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.15.

Medtronic Stock Performance

NYSE MDT opened at $92.6210 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. Medtronic has a 1 year low of $79.29 and a 1 year high of $96.25. The company has a market capitalization of $118.72 billion, a PE ratio of 25.52, a P/E/G ratio of 2.31 and a beta of 0.80. The company has a fifty day moving average of $89.73 and a two-hundred day moving average of $88.03.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.56%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. Medtronic’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is currently 78.24%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in Medtronic during the first quarter worth about $26,000. Burkett Financial Services LLC raised its holdings in Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in Medtronic during the second quarter worth about $27,000. Columbia River Financial Group LLC purchased a new position in Medtronic during the first quarter worth about $28,000. Finally, Twin Tree Management LP purchased a new position in Medtronic in the first quarter valued at about $29,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.