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.
Medtronic Price Performance
NYSE:MDT opened at $95.20 on Tuesday. The stock's 50-day moving average price is $91.06 and its two-hundred day moving average price is $100.36. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.39. The company has a market cap of $127.71 billion, a PE ratio of 25.52, a PEG ratio of 2.43 and a beta of 0.75. Medtronic has a 1 year low of $86.70 and a 1 year high of $135.89.
Medtronic (NYSE:MDT - Get Rating) last posted its quarterly earnings data 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). The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $8.43 billion. Medtronic had a return on equity of 14.50% and a net margin of 15.90%. Medtronic's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. On average, analysts predict that Medtronic will post 5.55 EPS for the current year.
Medtronic Increases Dividend
The company also recently declared 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. The ex-dividend date was Thursday, June 23rd. This represents a $2.72 annualized dividend and a dividend yield of 2.86%. Medtronic's payout ratio is presently 72.92%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Truist Financial decreased their price objective on shares of Medtronic from $111.00 to $97.00 and set a "hold" rating for the company in a report on Wednesday, July 20th. Citigroup reduced their price target on shares of Medtronic from $120.00 to $117.00 and set a "buy" rating for the company in a report on Friday, May 27th. Sanford C. Bernstein reissued a "buy" rating and set a $122.00 price target on shares of Medtronic in a report on Friday, May 20th. Stifel Nicolaus reduced their price target on shares of Medtronic from $125.00 to $105.00 in a report on Monday, July 18th. Finally, Atlantic Securities downgraded 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $117.13.