Medtronic (NYSE:MDT) Upgraded at Needham & Company LLC

Needham & Company LLC upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports. The firm currently has $121.00 price objective on the medical technology company’s stock.

MDT has been the subject of several other research reports. Leerink Partners set a $120.00 price objective on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. The Goldman Sachs Group set a $111.00 price target on Medtronic and gave the stock a “neutral” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “buy (b-)” rating on shares of Medtronic in a report on Monday, December 29th. CICC Research assumed coverage on shares of Medtronic in a research report on Friday, January 30th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.21.

Medtronic Price Performance

Shares of MDT opened at $101.07 on Monday. The stock has a market capitalization of $129.58 billion, a PE ratio of 27.24, a PEG ratio of 2.67 and a beta of 0.71. Medtronic has a fifty-two week low of $79.55 and a fifty-two week high of $106.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company has a 50 day moving average price of $99.34 and a 200-day moving average price of $96.32.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. The business had revenue of $8.96 billion for the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The business’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts predict that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, December 26th. Medtronic’s dividend payout ratio is presently 76.55%.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CSM Advisors LLC lifted its holdings in Medtronic by 8.5% during the fourth quarter. CSM Advisors LLC now owns 309,523 shares of the medical technology company’s stock valued at $29,733,000 after purchasing an additional 24,263 shares in the last quarter. Picton Mahoney Asset Management raised its stake in Medtronic by 2,834.9% in the 4th quarter. Picton Mahoney Asset Management now owns 132,568 shares of the medical technology company’s stock valued at $12,734,000 after purchasing an additional 128,051 shares during the last quarter. Empowered Funds LLC lifted its holdings in Medtronic by 85.5% in the 4th quarter. Empowered Funds LLC now owns 168,860 shares of the medical technology company’s stock valued at $16,221,000 after purchasing an additional 77,821 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in Medtronic by 2.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 22,267 shares of the medical technology company’s stock worth $2,139,000 after purchasing an additional 597 shares during the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Medtronic during the fourth quarter worth $1,956,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).