Medtronic PLC (NYSE:MDT) Receives $99.00 Average Target Price from Brokerages

Shares of Medtronic PLC (NYSE:MDT) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, MarketBeat reports. Eleven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $99.00.

Several brokerages have commented on MDT. Robert W. Baird cut their target price on Medtronic from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 4th. Argus lowered their target price on Medtronic from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings downgraded Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Finally, Stifel Nicolaus set a $80.00 target price on Medtronic in a research report on Wednesday, June 3rd.

Medtronic Stock Down 0.3%

MDT stock opened at $80.11 on Friday. Medtronic has a twelve month low of $73.31 and a twelve month high of $106.33. The company has a quick ratio of 1.87, a current ratio of 2.54 and a debt-to-equity ratio of 0.57. The firm has a market cap of $102.85 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.58. The business has a 50 day moving average of $80.85 and a 200 day moving average of $91.38.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a return on equity of 14.61% and a net margin of 13.20%.The company had revenue of $9.81 billion during the quarter, compared to analyst estimates of $9.62 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. On average, research analysts forecast that Medtronic will post 5.94 EPS for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, June 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.6%. This is a boost from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date is Friday, June 26th. Medtronic’s dividend payout ratio (DPR) is presently 76.14%.

Insiders Place Their Bets

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction on Monday, June 8th. The stock was sold at an average price of $80.44, for a total transaction of $336,963.16. Following the transaction, the executive vice president directly owned 37,227 shares in the company, valued at approximately $2,994,539.88. The trade was a 10.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors and hedge funds have recently bought and sold shares of MDT. Lodestone Wealth Management LLC bought a new stake in Medtronic during the fourth quarter valued at about $27,000. Anfield Capital Management LLC raised its holdings in Medtronic by 410.7% during the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 230 shares during the period. Monetary Solutions Ltd bought a new stake in Medtronic during the fourth quarter valued at about $27,000. Board of the Pension Protection Fund bought a new stake in Medtronic during the fourth quarter valued at about $29,000. Finally, GoalVest Advisory LLC bought a new stake in Medtronic during the fourth quarter valued at about $29,000. 82.06% of the stock is owned by institutional investors.

Medtronic Company Profile

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).