Brokerages Set Medtronic PLC (NYSE:MDT) PT at $98.83

Shares of Medtronic PLC (NYSE:MDT) have received an average rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $98.8333.

MDT has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Medtronic from $93.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Medtronic in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. UBS Group raised shares of Medtronic from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $100.00 in a research note on Tuesday, July 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $101.00 target price on shares of Medtronic in a report on Wednesday, June 17th.

Insider Buying and Selling at Medtronic

In other news, EVP Harry Skip Kiil sold 4,189 shares of the firm’s 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Medtronic

Several hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in shares of Medtronic by 1,368.0% during the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock valued at $3,194,000 after acquiring an additional 37,265 shares during the period. Sivia Capital Partners LLC boosted its stake in Medtronic by 9.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after purchasing an additional 381 shares during the period. Jump Financial LLC purchased a new stake in shares of Medtronic in the second quarter valued at $299,000. Main Street Financial Solutions LLC boosted its position in shares of Medtronic by 28.9% in the second quarter. Main Street Financial Solutions LLC now owns 14,356 shares of the medical technology company’s stock worth $1,251,000 after buying an additional 3,218 shares during the period. Finally, HUB Investment Partners LLC boosted its position in shares of Medtronic by 21.3% in the second quarter. HUB Investment Partners LLC now owns 19,226 shares of the medical technology company’s stock worth $1,676,000 after buying an additional 3,376 shares during the period. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Stock Down 1.8%

MDT opened at $91.23 on Friday. Medtronic has a one year low of $73.31 and a one year high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock’s fifty day moving average is $84.84 and its 200-day moving average is $85.80. The company has a market capitalization of $116.77 billion, a PE ratio of 24.46, a P/E/G ratio of 2.49 and a beta of 0.55.

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

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio is 77.21%.

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).