Medtronic PLC (NYSE:MDT) Receives $102.82 Average PT from Brokerages

Shares of Medtronic PLC (NYSE:MDT) have earned an average rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $102.8235.

A number of brokerages recently issued reports on MDT. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Thursday, August 14th. Citigroup increased their price target on shares of Medtronic from $101.00 to $112.00 and gave the stock a “buy” rating in a report on Tuesday, October 7th. BTIG Research reissued a “neutral” rating on shares of Medtronic in a report on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a report on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price target on shares of Medtronic from $98.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th.

Medtronic Stock Up 0.5%

MDT stock opened at $94.09 on Friday. The firm’s fifty day simple moving average is $94.35 and its 200-day simple moving average is $89.48. Medtronic has a 12 month low of $79.29 and a 12 month high of $99.37. The company has a market capitalization of $120.69 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The firm had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities research analysts forecast that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is presently 78.24%.

Insider Buying and Selling at Medtronic

In related news, Director William R. Jellison acquired 2,500 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, with a total value of $230,925.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This trade represents a 100.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president directly owned 35,615 shares in the company, valued at approximately $3,261,621.70. The trade was a 19.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDT. 1248 Management LLC purchased a new position in Medtronic during the first quarter valued at $26,000. Delos Wealth Advisors LLC purchased a new position in shares of Medtronic in the second quarter worth about $27,000. Corundum Trust Company INC purchased a new position in shares of Medtronic in the third quarter worth about $27,000. Columbia River Financial Group LLC purchased a new position in shares of Medtronic in the first quarter worth about $28,000. Finally, Twin Tree Management LP purchased a new position in shares of Medtronic in the first quarter worth 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.