Brokerages Set Medtronic PLC (NYSE:MDT) Price Target at $102.27

Medtronic PLC (NYSE:MDT) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $100.9375.

MDT has been the topic of a number of research analyst reports. Mizuho lifted their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Wolfe Research upgraded Medtronic from an “underperform” rating to a “peer perform” rating in a report on Monday, June 30th. Truist Financial lifted their price target on Medtronic from $92.00 to $96.00 and gave the company a “hold” rating in a report on Thursday, August 21st. Evercore ISI lifted their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $107.00 price target (up previously from $98.00) on shares of Medtronic in a report on Tuesday, July 15th.

Medtronic Stock Performance

Shares of MDT stock opened at $98.46 on Tuesday. Medtronic has a 1-year low of $79.29 and a 1-year high of $98.66. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $126.29 billion, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.57 and a beta of 0.78. The stock’s fifty day simple moving average is $93.07 and its 200-day simple moving average is $88.52.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The business had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. Medtronic’s revenue for the quarter was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. On average, sell-side analysts predict that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. Medtronic’s payout ratio is 78.24%.

Insider Transactions at Medtronic

In other news, Director William R. Jellison bought 2,500 shares of the stock in a transaction on Monday, August 25th. The shares were purchased at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. This trade represents a 100.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Harry Skip Kiil sold 8,605 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total value of $788,045.90. Following the completion of the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This trade represents a 19.46% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Medtronic during the 2nd quarter worth about $1,432,698,000. Boston Partners boosted its stake in shares of Medtronic by 122.8% during the 1st quarter. Boston Partners now owns 6,912,055 shares of the medical technology company’s stock worth $619,460,000 after acquiring an additional 3,809,450 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Medtronic by 28.8% during the 1st quarter. Ameriprise Financial Inc. now owns 15,481,028 shares of the medical technology company’s stock worth $1,391,141,000 after acquiring an additional 3,461,221 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Medtronic by 42.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,059,135 shares of the medical technology company’s stock worth $903,915,000 after acquiring an additional 3,017,849 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Medtronic during the 1st quarter worth about $260,649,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.