Piper Sandler Cuts Medtronic (NYSE:MDT) Price Target to $91.00

Medtronic (NYSE:MDT) had its price objective reduced by Piper Sandler from $105.00 to $91.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

A number of other research analysts have also weighed in on the company. Truist Financial reduced their target price on Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a report on Wednesday, February 18th. Barclays reissued an “overweight” rating and issued a $118.00 price target on shares of Medtronic in a report on Wednesday, February 18th. Leerink Partners reaffirmed an “outperform” rating and set a $119.00 price objective on shares of Medtronic in a research note on Tuesday, March 10th. Wall Street Zen raised shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $104.00 target price on shares of Medtronic in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and an average price target of $109.85.

Medtronic Trading Down 0.0%

NYSE:MDT opened at $86.61 on Wednesday. Medtronic has a 1 year low of $79.55 and a 1 year high of $106.33. The stock’s fifty day moving average price is $94.47 and its two-hundred day moving average price is $96.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.54 and a quick ratio of 1.87. The company has a market cap of $111.19 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.24 and a beta of 0.75.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The company had revenue of $9.02 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. As a group, analysts expect that Medtronic will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 27th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 27th. This represents a $2.84 annualized dividend and a dividend yield of 3.3%. Medtronic’s payout ratio is presently 79.11%.

Insider Buying and Selling at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. This represents a 61.58% 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.

Hedge Funds Weigh In On Medtronic

A number of institutional investors have recently made changes to their positions in MDT. Brighton Jones LLC lifted its holdings in shares of Medtronic by 1,368.0% during the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after acquiring an additional 37,265 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Medtronic by 9.6% in the second quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 381 shares during the last quarter. VestGen Advisors LLC raised its position in Medtronic by 22.3% during the second quarter. VestGen Advisors LLC now owns 3,233 shares of the medical technology company’s stock valued at $282,000 after purchasing an additional 589 shares in the last quarter. Van Hulzen Asset Management LLC lifted its stake in Medtronic by 26.2% during the second quarter. Van Hulzen Asset Management LLC now owns 6,387 shares of the medical technology company’s stock worth $557,000 after purchasing an additional 1,326 shares during the last quarter. Finally, Westerkirk Capital Inc. bought a new stake in Medtronic during the second quarter worth about $616,000. Institutional investors own 82.06% of the company’s stock.

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).