Medtronic PLC (NYSE:MDT) Receives $102.27 Consensus Price Target from Brokerages

Medtronic PLC (NYSE:MDT) has been assigned a consensus recommendation of “Moderate Buy” from the twenty analysts that are currently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $102.2667.

A number of analysts recently commented on MDT shares. UBS Group upped their price target on shares of Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Daiwa Capital Markets upped their price target on shares of Medtronic from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Morgan Stanley restated an “overweight” rating and set a $107.00 price target (up from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th.

Medtronic Stock Up 0.8%

MDT opened at $95.57 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.01 and a debt-to-equity ratio of 0.54. The stock has a market cap of $122.59 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.50 and a beta of 0.78. Medtronic has a twelve month low of $79.29 and a twelve month high of $96.25. The company’s 50-day moving average price is $92.85 and its two-hundred day moving average price is $88.46.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, equities analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic’s dividend payout ratio is currently 78.24%.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the sale, the executive vice president directly owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of MDT. Burkett Financial Services LLC lifted its stake in Medtronic by 185.0% in the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 185 shares in the last quarter. 1248 Management LLC bought a new position in shares of Medtronic in the 1st quarter worth $26,000. Delos Wealth Advisors LLC bought a new position in shares of Medtronic in the 2nd quarter worth $27,000. Columbia River Financial Group LLC bought a new position in shares of Medtronic in the 1st quarter worth $28,000. Finally, Twin Tree Management LP bought a new position in shares of Medtronic in the 1st quarter worth $29,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

About Medtronic

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.