Leerink Partnrs Lowers Earnings Estimates for Medtronic

Medtronic PLC (NYSE:MDT - Free Report) - Research analysts at Leerink Partnrs dropped their FY2026 earnings per share (EPS) estimates for shares of Medtronic in a report issued on Monday, July 14th. Leerink Partnrs analyst M. Kratky now expects that the medical technology company will earn $5.54 per share for the year, down from their previous forecast of $5.55. Leerink Partnrs currently has a "Strong-Buy" rating on the stock. The consensus estimate for Medtronic's current full-year earnings is $5.46 per share. Leerink Partnrs also issued estimates for Medtronic's FY2028 earnings at $6.50 EPS, FY2029 earnings at $6.95 EPS and FY2030 earnings at $7.44 EPS.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.58 by $0.04. The firm had revenue of $8.93 billion during the quarter, compared to analyst estimates of $8.81 billion. Medtronic had a return on equity of 14.54% and a net margin of 13.90%. Medtronic's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS.

Other equities research analysts have also issued reports about the company. Truist Financial reduced their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research note on Friday, April 11th. Mizuho increased their price target on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday. William Blair upgraded Medtronic to a "hold" rating in a research note on Friday, July 11th. Leerink Partners started coverage on Medtronic in a research note on Monday, June 16th. They issued an "outperform" rating and a $110.00 price target for the company. Finally, BTIG Research reiterated a "neutral" rating on shares of Medtronic in a research note on Friday, July 11th. Eleven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic currently has an average rating of "Moderate Buy" and a consensus target price of $98.19.

Medtronic Stock Performance

Shares of NYSE:MDT traded up $0.52 during midday trading on Wednesday, hitting $89.74. The company had a trading volume of 5,173,456 shares, compared to its average volume of 7,044,827. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 1.42. The company has a market cap of $115.10 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.33 and a beta of 0.80. Medtronic has a 12-month low of $77.94 and a 12-month high of $96.25. The company has a fifty day moving average of $86.03 and a two-hundred day moving average of $86.97.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Medtronic by 0.7% in the first quarter. Vanguard Group Inc. now owns 125,014,241 shares of the medical technology company's stock worth $11,233,780,000 after purchasing an additional 810,854 shares during the last quarter. Capital Research Global Investors lifted its stake in Medtronic by 1.8% in the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company's stock worth $2,652,310,000 after purchasing an additional 571,700 shares during the last quarter. Geode Capital Management LLC lifted its stake in Medtronic by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company's stock worth $2,155,085,000 after purchasing an additional 574,055 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Medtronic by 7.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 22,278,023 shares of the medical technology company's stock worth $2,001,903,000 after purchasing an additional 1,461,841 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Medtronic by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 20,680,301 shares of the medical technology company's stock worth $1,858,332,000 after purchasing an additional 756,192 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 27th were issued a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.16%. Medtronic's dividend payout ratio (DPR) is presently 78.45%.

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.