Medtronic - MDT Stock Forecast, Price & News

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. It also provides aortic valves, surgical valve replacement and repair products, endovascular stent grafts and accessories, and transcatheter pulmonary valves; and percutaneous coronary intervention products, percutaneous angioplasty balloons, and products. The company's Medical Surgical Portfolio segment offers surgical stapling devices, vessel sealing instruments, wound closure, electrosurgery products, surgical artificial intelligence and robotic-assisted surgery products, hernia mechanical devices, mesh implants, gynecology and lung products, and various therapies to treat diseases, as well as products in the fields of minimally invasive gastrointestinal and hepatologic diagnostics and therapies, patient monitoring, airway management and ventilation therapies, and renal disease. Its Neuroscience Portfolio segment offers products for spinal surgeons; neurosurgeons; neurologists; pain management specialists; anesthesiologists; orthopedic surgeons; urologists; urogynecologists; interventional radiologists; ear, nose, and throat specialists; and systems that incorporate energy surgical instruments. It also provides image-guided surgery and intra-operative imaging systems and robotic guidance systems used in robot assisted spine procedures; and therapies for vasculature in and around the brain. The company's Diabetes Operating Unit segment offers insulin pumps and consumables, continuous glucose monitoring systems, smart insulin pen systems, and consumables and supplies. The company was founded in 1949 and is headquartered in Dublin, Ireland.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Atlantic Securities lowered shares of Medtronic from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $125.00 to $105.00 in a report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Medtronic from $149.00 to $121.00 in a research report on Friday, May 27th. Sanford C. Bernstein reaffirmed a "buy" rating and issued a $122.00 price objective on shares of Medtronic in a research report on Friday, May 20th. Wolfe Research assumed coverage on shares of Medtronic in a research report on Tuesday, July 5th. They issued an "underperform" rating and a $85.00 price objective on the stock. Finally, Needham & Company LLC downgraded shares of Medtronic from a "buy" rating to a "hold" rating in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Medtronic currently has an average rating of "Hold" and a consensus price target of $117.13.

Medtronic Stock Performance

MDT opened at $94.17 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.86 and a quick ratio of 1.49. The firm has a fifty day moving average price of $91.24 and a 200 day moving average price of $100.64. Medtronic has a 1 year low of $86.70 and a 1 year high of $135.89. The stock has a market cap of $126.33 billion, a P/E ratio of 25.25, a P/E/G ratio of 2.39 and a beta of 0.75.

Medtronic (NYSE:MDT - Get Rating) last posted its earnings results on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.04). Medtronic had a net margin of 15.90% and a return on equity of 14.50%. The firm had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The business's revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts anticipate that Medtronic will post 5.56 earnings per share for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, June 24th were paid a $0.68 dividend. This is a boost from Medtronic's previous quarterly dividend of $0.63. This represents a $2.72 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, June 23rd. Medtronic's payout ratio is currently 72.92%.