Medtronic (NYSE:MDT) Upgraded at Barclays

Barclays upgraded shares of Medtronic (NYSE:MDT) to a hold rating in a research report report published on Wednesday morning,Zacks reports.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird raised their price target on shares of Medtronic from $91.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. UBS Group upped their price objective on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $92.00 price objective on shares of Medtronic in a report on Thursday, September 3rd. Evercore set a $105.00 target price on Medtronic in a research report on Monday, July 6th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Eighteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.92.

Medtronic Price Performance

MDT opened at $88.56 on Wednesday. The firm has a market cap of $113.28 billion, a P/E ratio of 21.81, a PEG ratio of 2.00 and a beta of 0.55. The firm has a 50-day moving average of $90.28 and a 200 day moving average of $84.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic has a fifty-two week low of $73.31 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, research analysts expect that Medtronic will post 5.98 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $2.88 annualized dividend and a dividend yield of 3.3%. Medtronic’s dividend payout ratio is presently 70.94%.

Insider Activity

In related news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the completion of the sale, the executive vice president owned 42,186 shares of the company’s stock, valued at approximately $3,950,718.90. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently added to or reduced their stakes in the business. Gradient Investments LLC lifted its position in Medtronic by 3.9% in the 2nd quarter. Gradient Investments LLC now owns 496,513 shares of the medical technology company’s stock worth $38,842,000 after buying an additional 18,509 shares during the last quarter. Czech National Bank grew its position in Medtronic by 4.7% during the second quarter. Czech National Bank now owns 365,443 shares of the medical technology company’s stock valued at $28,589,000 after acquiring an additional 16,292 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Medtronic by 14.8% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock worth $12,918,000 after acquiring an additional 19,315 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Medtronic during the third quarter worth approximately $1,056,000. Finally, Congress Asset Management Co. bought a new stake in shares of Medtronic in the 3rd quarter worth approximately $76,201,000. 82.06% of the stock is currently owned by institutional investors.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: MiniMed split-off nears completion: Medtronic finalized a 4.5939-to-1 exchange ratio and will exchange up to approximately 225.4 million MiniMed shares. Depending on investor participation, roughly 49.1 million to 55.0 million MDT shares could be accepted, potentially reducing the share count and sharpening the company’s focus on core medical technologies. Medtronic Announces Final Exchange Ratio in MiniMed Split-Off
• Positive Sentiment: Growth initiatives gaining visibility: New clinical evidence for the Altaviva tibial neuromodulation device, upcoming Category I CPT codes for Altaviva and Symplicity Spyral, and continued investment in advanced therapy platforms support Medtronic’s effort to accelerate growth beyond its mature businesses. Investors React to Medtronic Growth Initiatives
• Positive Sentiment: Cardiac ablation leadership change: Felicia Kurz was appointed vice president and general manager of Cardiac Ablation Solutions as demand for Medtronic’s pulsed-field ablation products remains strong, reinforcing the company’s expansion in electrophysiology. Medtronic Names Felicia Kurz as Cardiac Ablation VP and GM
• Neutral Sentiment: Analyst and income appeal: Barclays raised its rating to Hold, while coverage highlights Medtronic’s dividend yield and its approaching potential Dividend King status. These developments may support valuation but do not represent a bullish recommendation. Medtronic Rating Raised to Hold at Barclays
• Negative Sentiment: Short interest surged: Shares sold short increased 132% to nearly 40.0 million as of September 30, equal to about 3.1% of shares outstanding and 2.7 days of average trading volume. The increase signals that some investors are positioning for weakness, despite the relatively modest short-interest ratio.
• Negative Sentiment: Mixed ownership signals: Recent filings show more institutions reduced MDT positions than added them, while reported insider and congressional transactions consisted of sales. These signals may temper enthusiasm, although they are not necessarily company-specific indicators.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.