Medtronic plc (NYSE:MDT - Get Free Report) was the recipient of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 7,880,000 shares, a drop of 42.2% from the May 15th total of 13,630,000 shares. Based on an average trading volume of 8,050,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.6% of the shares of the stock are sold short.
Medtronic Stock Performance
Shares of MDT stock opened at $87.19 on Monday. 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 has a fifty-two week low of $75.96 and a fifty-two week high of $96.25. The stock has a 50 day moving average price of $84.21 and a two-hundred day moving average price of $86.26. The company has a market capitalization of $111.83 billion, a P/E ratio of 26.50, a PEG ratio of 2.22 and a beta of 0.79.
Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The medical technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.04. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.81 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. Analysts expect that Medtronic will post 5.46 earnings per share for the current year.
Medtronic Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a $0.71 dividend. The ex-dividend date is Friday, June 27th. This represents a $2.84 annualized dividend and a yield of 3.26%. This is an increase from Medtronic's previous quarterly dividend of $0.70. Medtronic's payout ratio is presently 78.45%.
Institutional Trading of Medtronic
Several hedge funds and other institutional investors have recently bought and sold shares of MDT. Mainstream Capital Management LLC bought a new position in shares of Medtronic during the fourth quarter valued at approximately $26,000. Burkett Financial Services LLC raised its holdings in shares of Medtronic by 185.0% during the first quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock valued at $26,000 after acquiring an additional 185 shares in the last quarter. 1248 Management LLC bought a new position in shares of Medtronic during the first quarter valued at approximately $26,000. Rakuten Securities Inc. raised its holdings in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 294 shares in the last quarter. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Medtronic during the fourth quarter valued at approximately $27,000. Institutional investors own 82.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Mizuho dropped their price target on Medtronic from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Royal Bank of Canada dropped their price target on Medtronic from $105.00 to $101.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Truist Financial dropped their price target on Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Robert W. Baird dropped their price target on Medtronic from $94.00 to $92.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Finally, UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $97.00.
Read Our Latest Research Report on Medtronic
About Medtronic
(
Get Free Report)
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.
Featured Stories
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.
Before you consider Medtronic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Medtronic wasn't on the list.
While Medtronic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
