Medtronic (NYSE:MDT) Announces Earnings Results

Medtronic (NYSE:MDT - Get Free Report) released its quarterly earnings results on Wednesday. The medical technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.04, Zacks reports. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The business's revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. Medtronic updated its FY 2026 guidance to 5.500-5.600 EPS.

Medtronic Stock Performance

NYSE:MDT traded down $1.17 during mid-day trading on Wednesday, reaching $85.20. 2,499,863 shares of the company's stock were exchanged, compared to its average volume of 6,745,856. Medtronic has a one year low of $75.96 and a one year high of $96.25. The firm has a market capitalization of $109.27 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. The business's fifty day simple moving average is $85.71 and its two-hundred day simple moving average is $86.57. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Friday, June 27th will be paid a $0.71 dividend. This is an increase from Medtronic's previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a dividend yield of 3.33%. Medtronic's dividend payout ratio is 85.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on MDT shares. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a report on Friday, April 11th. Robert W. Baird increased their price objective on Medtronic from $90.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. Needham & Company LLC reissued a "hold" rating on shares of Medtronic in a report on Monday. Finally, UBS Group increased their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $96.14.

Hedge Funds Weigh In On Medtronic

A hedge fund recently raised its stake in Medtronic stock. Brighton Jones LLC increased its holdings in shares of Medtronic plc (NYSE:MDT - Free Report) by 1,368.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,989 shares of the medical technology company's stock after acquiring an additional 37,265 shares during the quarter. Brighton Jones LLC's holdings in Medtronic were worth $3,194,000 as of its most recent filing with the SEC. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.