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.

Medtronic Stock Up 0.9 %

Shares of NYSE:MDT traded up $0.81 during trading hours on Monday, reaching $94.09. The stock had a trading volume of 77,773 shares, compared to its average volume of 6,096,379. The stock has a market capitalization of $126.23 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 2.39 and a beta of 0.75. The firm's 50 day moving average is $91.49 and its 200-day moving average is $100.78. Medtronic has a 1 year low of $86.70 and a 1 year high of $135.89. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.49 and a current ratio of 1.86.

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

Medtronic Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on MDT shares. Atlantic Securities lowered Medtronic from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $125.00 to $105.00 in a research report on Wednesday, June 1st. SVB Leerink reissued a "market perform" rating on shares of Medtronic in a research report on Wednesday, April 13th. Piper Sandler decreased their target price on shares of Medtronic from $105.00 to $100.00 and set a "neutral" rating on the stock in a research report on Thursday, May 26th. Morgan Stanley dropped their price target on shares of Medtronic from $114.00 to $103.00 and set an "equal weight" rating for the company in a research report on Friday, July 15th. Finally, Citigroup decreased their price objective on shares of Medtronic from $120.00 to $117.00 and set a "buy" rating on the stock in a report on Friday, May 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $117.13.