Medtronic (NYSE:MDT) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Medtronic (NYSE:MDT) in a research note released on Friday, Marketbeat reports. The firm issued an overweight rating and a $114.00 price objective on the medical technology company’s stock.

A number of other equities research analysts have also recently issued reports on MDT. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group restated a “hold” rating and issued a $110.00 price target on shares of Medtronic in a research note on Wednesday, November 19th. Stifel Nicolaus increased their price objective on Medtronic from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Morgan Stanley lifted their target price on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group set a $111.00 price target on shares of Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Medtronic has an average rating of “Moderate Buy” and a consensus price target of $110.28.

Medtronic Price Performance

NYSE:MDT opened at $102.96 on Friday. Medtronic has a one year low of $79.55 and a one year high of $106.33. The company has a market cap of $131.99 billion, a P/E ratio of 27.75, a P/E/G ratio of 2.66 and a beta of 0.71. The firm’s fifty day moving average price is $99.60 and its two-hundred day moving average price is $95.64. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.86 billion. Medtronic had a net margin of 13.71% and a return on equity of 14.86%. Medtronic’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were given a $0.71 dividend. The ex-dividend date was Friday, December 26th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. Medtronic’s dividend payout ratio (DPR) is presently 76.55%.

Institutional Investors Weigh In On Medtronic

A number of large investors have recently bought and sold shares of MDT. Curbstone Financial Management Corp boosted its position in shares of Medtronic by 1.8% during the 4th quarter. Curbstone Financial Management Corp now owns 5,594 shares of the medical technology company’s stock worth $537,000 after acquiring an additional 100 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in Medtronic by 3.3% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 3,221 shares of the medical technology company’s stock worth $309,000 after purchasing an additional 102 shares during the last quarter. Riverbend Wealth Management LLC boosted its holdings in shares of Medtronic by 3.2% in the 3rd quarter. Riverbend Wealth Management LLC now owns 3,487 shares of the medical technology company’s stock valued at $332,000 after purchasing an additional 107 shares in the last quarter. Maseco LLP increased its stake in shares of Medtronic by 32.1% in the 4th quarter. Maseco LLP now owns 444 shares of the medical technology company’s stock valued at $43,000 after purchasing an additional 108 shares during the last quarter. Finally, Holistic Financial Partners raised its holdings in shares of Medtronic by 3.0% during the 3rd quarter. Holistic Financial Partners now owns 3,697 shares of the medical technology company’s stock worth $352,000 after buying an additional 109 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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).