Medtronic (MDT) Stock Forecast, Price & News

14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Medtronic in the last year. There are currently 1 sell rating, 7 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" MDT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MDT, but not buy additional shares or sell existing shares.
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14 equities research analysts have issued 12-month price targets for Medtronic's shares. Their MDT share price forecasts range from $80.00 to $106.00. On average, they anticipate the company's stock price to reach $91.67 in the next year. This suggests a possible upside of 17.1% from the stock's current price.
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Medtronic's stock was trading at $77.72 at the start of the year. Since then, MDT stock has increased by 0.7% and is now trading at $78.26.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 28th 2023.
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Medtronic plc (NYSE:MDT) issued its quarterly earnings data on Tuesday, August, 22nd. The medical technology company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.09. The medical technology company earned $7.70 billion during the quarter, compared to analyst estimates of $7.57 billion. Medtronic had a trailing twelve-month return on equity of 13.81% and a net margin of 11.47%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.13 EPS.
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Medtronic declared a quarterly dividend on Thursday, August 17th. Stockholders of record on Friday, September 22nd will be paid a dividend of $0.69 per share on Friday, October 13th. This represents a $2.76 annualized dividend and a yield of 3.53%. The ex-dividend date is Thursday, September 21st.
Read our dividend analysis for MDT.

ETFs with the largest weight of Medtronic (NYSE:MDT) stock in their portfolio include iShares U.S. Medical Devices ETF (IHI), Simplify Health Care ETF (PINK), American CenturyFocused Large Cap Value ETF (FLV), Leatherback Long/Short Alternative Yield ETF (LBAY), Absolute Select Value ETF (ABEQ), Cambiar Aggressive Value ETF (CAMX), WisdomTree U.S. AI Enhanced Value Fund (AIVL) and Global X Aging Population ETF (AGNG).

Medtronic (NYSE:MDT) pays an annual dividend of $2.76 per share and currently has a dividend yield of 3.45%. The company has been increasing its dividend for 47 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 101.85%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, MDT will have a dividend payout ratio of 50.46% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MDT.

Medtronic updated its FY 2024 earnings guidance on Tuesday, August, 22nd. The company provided EPS guidance of $5.08-$5.16 for the period, compared to the consensus EPS estimate of $5.05. The company issued revenue guidance of $32.09 billion-$32.09 billion, compared to the consensus revenue estimate of $32.18 billion.

1,925 employees have rated Medtronic Chief Executive Officer Omar S. Ishrak on Glassdoor.com. Omar S. Ishrak has an approval rating of 92% among the company's employees. This puts Omar S. Ishrak in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Medtronic investors own include Johnson & Johnson (JNJ), AT&T (T), NVIDIA (NVDA), AbbVie (ABBV), Walt Disney (DIS), Cisco Systems (CSCO), Intel (INTC), CVS Health (CVS), Home Depot (HD) and Walmart (WMT).

Medtronic trades on the New York Stock Exchange (NYSE) under the ticker symbol "MDT."

Medtronic's stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (8.64%), State Street Corp (4.52%), Capital Research Global Investors (2.37%), Geode Capital Management LLC (1.93%), Bank of New York Mellon Corp (1.49%) and Franklin Resources Inc. (1.46%). Insiders that own company stock include Bradley E Lerman, Brett A Wall, Brett A Wall, Carol A Surface, Carol A Surface, Geoffrey Martha, Gregory L Smith, Hoedt Rob Ten, John R Liddicoat, Karen L Parkhill, Karen L Parkhill, Michael Marinaro, Omar Ishrak, Richard H Anderson, Richard H Anderson, Robert John White and Sean Salmon.
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Shares of MDT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MDT stock can currently be purchased for approximately $78.26.

Medtronic (NYSE:MDT) has a market capitalization of $104.13 billion and generates $31.23 billion in revenue each year. The medical technology company earns $3.76 billion in net income (profit) each year or $2.71 on an earnings per share basis.

The company employs 95,000 workers across the globe.

Medtronic's mailing address is 20 ON HATCH LOWER HATCH STREET, DUBLIN L2, D02. The official website for the company is www.medtronic.com. The medical technology company can be reached via phone at (531) 438-1700, via email at investor.relations@medtronic.com, or via fax at 763-514-4879.