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

Medtronic PLC (NYSE:MDT) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven analysts that are presently covering the company, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $98.8333.

A number of brokerages have recently weighed in on MDT. JPMorgan Chase & Co. cut their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Piper Sandler reissued a “neutral” rating and set a $85.00 price target on shares of Medtronic in a research note on Tuesday, June 16th. The Goldman Sachs Group cut their price target on Medtronic from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Truist Financial reduced their price objective on Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research note on Thursday, June 4th. Finally, Robert W. Baird decreased their price objective on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, June 4th.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The shares were sold at an average price of $80.44, for a total value of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lodestone Wealth Management LLC bought a new stake in shares of Medtronic in the 4th quarter valued at approximately $27,000. Anfield Capital Management LLC boosted its holdings in shares of 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 during the period. Monetary Solutions Ltd bought a new position in shares of Medtronic during the 4th quarter valued at approximately $27,000. Acumen Wealth Advisors LLC bought a new stake in Medtronic in the fourth quarter worth $29,000. Finally, Imprint Wealth LLC bought a new stake in Medtronic in the third quarter worth $31,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.3%

Medtronic stock opened at $85.64 on Monday. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33. The firm’s 50 day moving average price is $80.94 and its 200-day moving average price is $87.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. The stock has a market cap of $109.62 billion, a P/E ratio of 22.96, a PEG ratio of 2.29 and a beta of 0.55.

Medtronic (NYSE:MDT) last issued its earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The firm had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. Medtronic’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, equities analysts predict that Medtronic will post 5.94 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, June 26th. This is a positive change from Medtronic’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.4%. Medtronic’s payout ratio is currently 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).