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

Key Points

• Medtronic has a “Moderate Buy” consensus rating among 27 analysts, with 18 buys and nine holds. The average 12-month price target is $98.83.
• Recent analyst actions were mixed: BTIG reaffirmed a $91 buy rating, while Wells Fargo and JPMorgan lowered their price targets to $102 and $86, respectively.
• Medtronic’s latest quarter modestly exceeded expectations, with $1.55 in EPS and $9.81 billion in revenue, while revenue increased 9.9% year over year. The company also raised its quarterly dividend to $0.72 per share, implying a 3.1% yield.

Shares of Medtronic PLC (NYSE:MDT - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-seven analysts that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $98.8333.

Several research analysts recently weighed in on MDT shares. BTIG Research reaffirmed a "buy" rating and set a $91.00 target price on shares of Medtronic in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Medtronic from $114.00 to $102.00 and set an "overweight" rating on the stock in a research report on Thursday, June 4th. JPMorgan Chase & Co. cut their price target on shares of Medtronic from $100.00 to $86.00 and set a "neutral" rating for the company in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Medtronic from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, Stifel Nicolaus set a $80.00 price objective on Medtronic in a research report on Wednesday, June 3rd.

Insider Activity at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 37,227 shares of the company's stock, valued at $2,994,539.88. This represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MDT. Banco de Sabadell S.A raised its holdings in shares of Medtronic by 1.4% during the second quarter. Banco de Sabadell S.A now owns 21,155 shares of the medical technology company's stock valued at $1,656,000 after acquiring an additional 290 shares during the period. Triumph Capital Management boosted its stake in Medtronic by 7.3% in the 2nd quarter. Triumph Capital Management now owns 3,750 shares of the medical technology company's stock worth $293,000 after purchasing an additional 254 shares during the period. First PREMIER Bank boosted its stake in Medtronic by 5.0% in the 2nd quarter. First PREMIER Bank now owns 6,182 shares of the medical technology company's stock worth $483,000 after purchasing an additional 295 shares during the period. Proficio Capital Partners LLC purchased a new position in Medtronic during the 2nd quarter worth approximately $304,000. Finally, Community Bank & Trust Waco Texas grew its position in Medtronic by 6.9% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 21,769 shares of the medical technology company's stock worth $1,703,000 after purchasing an additional 1,403 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Performance

MDT opened at $92.45 on Friday. The company has a market capitalization of $118.33 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.52 and a beta of 0.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.13 and a quick ratio of 1.62. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The business has a 50 day moving average price of $84.12 and a two-hundred day moving average price of $86.01.

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

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, June 26th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Medtronic's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, June 26th. Medtronic's payout ratio is presently 77.21%.

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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