Medtronic PLC (NYSE:MDT) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Medtronic PLC has received a consensus rating of "Moderate Buy" from twenty brokerages, with an average 12-month price target set at $102.27.
• Recent insider trading includes Director William R. Jellison purchasing 2,500 shares, increasing his ownership by 100%, while EVP Harry Skip Kiil sold 8,605 shares, representing a 19.46% decrease in his stake.
• Medtronic announced a quarterly dividend of $0.71 per share to be paid on October 17th, providing a yield of 3.0% based on the current stock price.

Medtronic PLC (NYSE:MDT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twenty brokerages that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $102.2667.

Several equities research analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Medtronic from $94.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Sanford C. Bernstein raised their price objective on Medtronic from $97.00 to $98.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. Mizuho boosted their target price on Medtronic from $98.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Daiwa Capital Markets increased their price target on Medtronic from $101.00 to $104.00 and gave the company a "buy" rating in a research note on Friday, September 12th. Finally, Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a report on Monday, June 30th.

Insiders Place Their Bets

In other news, Director William R. Jellison bought 2,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $92.37 per share, with a total value of $230,925.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $461,850. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares of the company's stock, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Institutional Trading of Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of MDT. Brighton Jones LLC boosted its holdings in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company's stock valued at $3,194,000 after purchasing an additional 37,265 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Medtronic by 12,579.1% in the first quarter. GAMMA Investing LLC now owns 1,427,157 shares of the medical technology company's stock worth $128,244,000 after buying an additional 1,415,901 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of Medtronic by 5.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 27,191 shares of the medical technology company's stock worth $2,443,000 after buying an additional 1,322 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in Medtronic by 2.9% during the first quarter. Fiduciary Alliance LLC now owns 6,053 shares of the medical technology company's stock worth $544,000 after acquiring an additional 169 shares during the period. Finally, NBC Securities Inc. raised its position in Medtronic by 101,634.2% during the first quarter. NBC Securities Inc. now owns 38,659 shares of the medical technology company's stock valued at $3,473,000 after acquiring an additional 38,621 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Down 0.2%

Shares of NYSE MDT opened at $94.00 on Tuesday. Medtronic has a 1-year low of $79.29 and a 1-year high of $96.25. The business has a fifty day moving average price of $92.66 and a 200 day moving average price of $88.36. The stock has a market capitalization of $120.57 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 2.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.01 and a quick ratio of 1.50.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities research analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic's payout ratio is currently 78.24%.

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.

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