Medtronic PLC (NYSE:MDT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Medtronic has a consensus analyst rating of “Moderate Buy”, with 17 buy ratings and 10 hold ratings among 27 firms covering the stock. The average 1-year price target is $99.00.
• The company recently reported quarterly results that beat expectations, posting EPS of $1.55 versus $1.54 expected and revenue of $9.81 billion versus $9.62 billion estimated. Revenue also rose 9.9% year over year.
• Medtronic also increased its quarterly dividend to $0.72 per share from $0.71, implying an annualized dividend of $2.88 and a 3.6% yield.

Medtronic PLC (NYSE:MDT - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-seven ratings firms that are covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $99.00.

Several equities research analysts have weighed in on MDT shares. Leerink Partners dropped their target price on Medtronic from $117.00 to $104.00 and set an "outperform" rating on the stock in a research report on Thursday, June 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $118.00 price target on shares of Medtronic in a report on Thursday, June 4th. Argus lowered their price target 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $101.00 price objective on shares of Medtronic in a report on Wednesday, June 17th. Finally, UBS Group cut their price objective on shares of Medtronic from $90.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, June 4th.

Medtronic Stock Up 1.4%

NYSE:MDT opened at $79.32 on Thursday. The firm has a market capitalization of $101.53 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.56. The stock has a 50 day moving average of $79.02 and a 200-day moving average of $89.23. Medtronic has a 52 week low of $73.31 and a 52 week high of $106.33. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

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

Medtronic Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.72 dividend. The ex-dividend date is Friday, June 26th. This is an increase from Medtronic's previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a dividend yield of 3.6%. Medtronic's dividend payout ratio (DPR) is 77.21%.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction 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. The trade was a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

Institutional Trading of Medtronic

Large investors have recently added to or reduced their stakes in the business. CSM Advisors LLC lifted its position in Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company's stock worth $27,169,000 after purchasing an additional 33,167 shares during the period. SageView Advisory Group LLC raised its stake in shares of Medtronic by 164.8% in the 3rd quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company's stock worth $2,305,000 after buying an additional 15,062 shares in the last quarter. Madison Asset Management LLC lifted its holdings in shares of Medtronic by 15.0% in the fourth quarter. Madison Asset Management LLC now owns 195,216 shares of the medical technology company's stock valued at $18,752,000 after buying an additional 25,527 shares during the period. Ticino Wealth acquired a new stake in shares of Medtronic in the fourth quarter valued at $2,049,000. Finally, First Eagle Investment Management LLC boosted its stake in Medtronic by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 9,775,234 shares of the medical technology company's stock valued at $939,009,000 after buying an additional 40,196 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

About Medtronic

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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