Medtronic PLC (NYSE:MDT) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Wall Street analysts give Medtronic a “Moderate Buy” consensus: Of 28 analysts, 18 rate the stock a buy, nine a hold and one a sell. The average 12-month price target is $102.88.
• Medtronic’s latest quarter beat expectations, reporting adjusted earnings of $1.45 per share versus $1.39 forecast and revenue of $9.76 billion versus $9.55 billion; revenue rose 13.7% year over year.
• The company pays a quarterly dividend of $0.72 per share, equivalent to $2.88 annually and a 2.9% yield. Insiders sold 61,903 shares worth about $5.9 million over the past 90 days.

Medtronic PLC (NYSE:MDT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-eight ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $102.88.

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group restated a "cautious" rating on shares of Medtronic in a report on Wednesday, October 14th. Piper Sandler reaffirmed a "neutral" rating on shares of Medtronic in a research report on Wednesday, October 14th. BTIG Research decreased their price target on Medtronic from $100.00 to $99.00 and set a "buy" rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings upgraded Medtronic from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, October 19th.

Medtronic Trading Down 0.3%

Shares of MDT stock opened at $98.95 on Wednesday. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The stock has a market cap of $126.58 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 2.32 and a beta of 0.56. The stock has a 50-day moving average of $91.94 and a 200-day moving average of $88.36.

Medtronic (NYSE:MDT - Get Free Report) last posted 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. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The firm's quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities research analysts forecast that Medtronic will post 5.98 earnings per share for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a dividend of $0.72 per share. The ex-dividend date was Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 2.9%. Medtronic's dividend payout ratio is presently 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the sale, the executive vice president directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the completion of the sale, the chief executive officer owned 277,866 shares of the company's stock, valued at approximately $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,903 shares of company stock valued at $5,889,203 over the last 90 days. Company insiders own 0.27% of the company's stock.

Institutional Trading of Medtronic

Several large investors have recently modified their holdings of MDT. BlackRock Inc. raised its position in shares of Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company's stock worth $8,919,846,000 after acquiring an additional 838,220 shares in the last quarter. State Street Corp boosted its position in shares of Medtronic by 2.7% during the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company's stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Medtronic by 5.4% during the first quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company's stock valued at $2,254,200,000 after purchasing an additional 1,343,220 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company's stock valued at $1,078,321,000 after purchasing an additional 3,739,288 shares in the last quarter. Finally, WCM Investment Management LLC bought a new stake in shares of Medtronic during the first quarter valued at approximately $965,922,000. Institutional investors and hedge funds own 82.06% of the company's stock.

Medtronic Company Profile

Medtronic plc NYSE: MDT is a global medical technology company that develops, manufactures and distributes devices and therapies used to diagnose, treat and manage a broad range of medical conditions. Its products support healthcare providers in areas including cardiac and vascular care, diabetes, neuroscience, surgical procedures and patient monitoring.

The company's offerings include pacemakers, implantable defibrillators, heart valves and other structural heart products; insulin pumps and continuous glucose monitoring technologies; spinal and neurosurgical systems; deep-brain and spinal cord stimulation devices; surgical instruments and robotic-assisted technologies; and respiratory and patient-monitoring equipment.

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