Medtronic’s (MDT) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Medtronic (NYSE:MDT) in a report released on Tuesday,Benzinga reports. BTIG Research currently has a $91.00 price target on the medical technology company’s stock.

Other analysts have also issued reports about the stock. Truist Financial decreased their target price on shares of Medtronic from $95.00 to $86.00 and set a “hold” rating on the stock in a research report on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on shares of Medtronic from $100.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, June 4th. Needham & Company LLC restated a “buy” rating and set a $101.00 price target on shares of Medtronic in a research note on Wednesday, June 17th. Rothschild & Co Redburn decreased their price objective on Medtronic from $111.00 to $106.00 and set a “buy” rating on the stock in a report on Friday, June 5th. Finally, Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.83.

Medtronic Stock Performance

Shares of NYSE MDT opened at $92.45 on Tuesday. The firm has a market capitalization of $118.33 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.52 and a beta of 0.55. Medtronic has a one year low of $73.31 and a one year high of $106.33. The business has a fifty day simple moving average of $84.12 and a 200 day simple moving average of $86.01. The company has a current ratio of 2.13, a quick ratio of 1.62 and a debt-to-equity ratio of 0.52.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The firm had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.62 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. Sell-side analysts expect that Medtronic will post 5.94 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, June 26th were given a dividend of $0.72 per share. This is an increase from Medtronic’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, June 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.1%. Medtronic’s dividend payout ratio is 77.21%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 4,189 shares of Medtronic stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $80.44, for a total transaction of $336,963.16. Following the completion of the transaction, the executive vice president directly owned 37,227 shares of the company’s stock, valued at $2,994,539.88. This trade represents a 10.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Medtronic

Hedge funds have recently modified their holdings of the company. Monetary Solutions Ltd bought a new stake in Medtronic during the 4th quarter worth approximately $27,000. Anfield Capital Management LLC boosted its stake in Medtronic by 410.7% in the fourth quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new position in Medtronic in the fourth quarter worth $29,000. Imprint Wealth LLC bought a new stake in shares of Medtronic during the third quarter worth $31,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Medtronic during the fourth quarter worth $32,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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).