Medtronic (MDT) Stock Forecast, Price & News

14 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Medtronic in the last year. There are currently 2 sell ratings, 9 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street equities 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 $79.00 to $109.00. On average, they expect the company's share price to reach $90.53 in the next twelve months. This suggests a possible upside of 11.1% from the stock's current price.
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Medtronic's stock was trading at $77.72 at the beginning of 2023. Since then, MDT stock has increased by 4.8% and is now trading at $81.46.
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Medtronic saw a increase in short interest during the month of April. As of April 30th, there was short interest totaling 11,410,000 shares, an increase of 39.5% from the April 15th total of 8,180,000 shares. Based on an average trading volume of 5,990,000 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.9% of the company's shares are short sold.
View Medtronic's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 22nd 2023.
View our MDT earnings forecast.

Medtronic plc (NYSE:MDT) issued its quarterly earnings data on Thursday, May, 25th. The medical technology company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.01. The medical technology company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.25 billion. Medtronic had a net margin of 12.03% and a trailing twelve-month return on equity of 13.54%. The company's revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.52 EPS.
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Medtronic declared a quarterly dividend on Wednesday, May 24th. Shareholders of record on Friday, June 23rd will be given a dividend of $0.69 per share on Friday, July 14th. This represents a $2.76 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, June 22nd. This is an increase from the stock's previous quarterly dividend of $0.68.
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), TrueShares Low Volatility Equity Income ETF (DIVZ), Subversive Mental Health ETF (SANE), Absolute Select Value ETF (ABEQ), Leatherback Long/Short Alternative Yield ETF (LBAY) and Global X Aging Population ETF (AGNG).

Medtronic (NYSE:MDT) pays an annual dividend of $2.72 per share and currently has a dividend yield of 3.34%. The company has been increasing its dividend for 46 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 96.45%. 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 49.01% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MDT.

Medtronic issued an update on its FY23 earnings guidance on Thursday, May, 25th. The company provided earnings per share (EPS) guidance of $5.00-5.10 for the period, compared to the consensus EPS estimate of $5.27.

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. (8.85%), State Street Corp (4.51%), Wellington Management Group LLP (2.25%), Geode Capital Management LLC (1.97%), JPMorgan Chase & Co. (1.53%) and Bank of New York Mellon Corp (1.51%). Insiders that own company stock include Bradley E Lerman, Brett A Wall, Brett A Wall, Carol A Surface, Carol A Surface, Geoffrey Martha, Hoedt Rob Ten, John R Liddicoat, Karen L Parkhill, Karen L Parkhill, 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 $81.46.

Medtronic (NYSE:MDT) has a market capitalization of $108.38 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 $2.82 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.