Medtronic PLC (NYSE:MDT) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Medtronic, with 17 buy ratings and 10 holds among 27 analysts. The average 12-month price target is $98.21, above the stock’s reported $83.12 price.
• Medtronic exceeded quarterly expectations, reporting $1.55 in adjusted EPS and $9.81 billion in revenue, while revenue grew 9.9% year over year. Analysts forecast approximately $5.94 in EPS for the current fiscal year.
• The company raised its quarterly dividend to $0.72 per share, or $2.88 annually, producing a 3.5% yield; its dividend payout ratio is 77.21%.

Medtronic PLC (NYSE:MDT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-seven analysts that are currently covering the company, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $98.2083.

MDT has been the subject of several research analyst reports. Mizuho dropped their target price on shares of Medtronic from $120.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, June 3rd. Evercore set a $105.00 price objective on shares of Medtronic in a research report on Monday, July 6th. The Goldman Sachs Group dropped their price objective on shares of Medtronic from $84.00 to $83.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Argus cut their target price on shares of Medtronic from $125.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Leerink Partners reduced their target price on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research note on Thursday, June 4th.

Medtronic Stock Performance

NYSE:MDT opened at $83.12 on Monday. The stock has a market cap of $106.40 billion, a P/E ratio of 22.28, a PEG ratio of 2.23 and a beta of 0.56. The company has a quick ratio of 1.62, a current ratio of 2.13 and a debt-to-equity ratio of 0.52. The business's 50-day moving average price is $80.15 and its two-hundred day moving average price is $87.45. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Friday, June 26th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.5%. This is an increase from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's dividend payout ratio is presently 77.21%.

Insider Activity

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction dated Monday, June 8th. The stock was 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 in the company, valued at approximately $2,994,539.88. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company's stock.

Institutional Trading of Medtronic

A number of hedge funds have recently bought and sold shares of MDT. Curbstone Financial Management Corp raised its stake in shares of Medtronic by 1.8% during the fourth quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company's stock worth $537,000 after acquiring an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC lifted its holdings in shares of Medtronic by 7.8% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,403 shares of the medical technology company's stock worth $135,000 after acquiring an additional 101 shares during the last quarter. Ipsen Advisor Group LLC boosted its stake in shares of Medtronic by 1.7% in the 4th quarter. Ipsen Advisor Group LLC now owns 5,952 shares of the medical technology company's stock valued at $572,000 after purchasing an additional 101 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Medtronic by 0.3% in the 4th quarter. Quadrant Capital Group LLC now owns 32,477 shares of the medical technology company's stock valued at $3,120,000 after purchasing an additional 101 shares in the last quarter. Finally, Rossby Financial LCC grew its holdings in shares of Medtronic by 5.1% during the 4th quarter. Rossby Financial LCC now owns 2,193 shares of the medical technology company's stock valued at $211,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 82.06% of the company's stock.

Medtronic Company Profile

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).

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