Medtronic (NYSE:MDT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Medtronic (NYSE:MDT) from a buy rating to a hold rating in a research report report published on Sunday morning.

Several other equities analysts have also recently commented on the company. The Goldman Sachs Group set a $111.00 target price on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Monday, January 5th. Truist Financial dropped their target price on shares of Medtronic from $107.00 to $103.00 and set a “hold” rating for the company in a research report on Wednesday, February 18th. Leerink Partners reduced their price target on shares of Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 18th. Finally, Needham & Company LLC decreased their price target on Medtronic from $121.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. One 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.74.

Medtronic Stock Performance

Shares of MDT stock opened at $96.71 on Friday. The company’s fifty day moving average price is $98.92 and its two-hundred day moving average price is $96.99. 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 firm has a market capitalization of $124.16 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.46 and a beta of 0.71. Medtronic has a 12 month low of $79.55 and a 12 month high of $106.33.

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

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. Medtronic’s dividend payout ratio (DPR) is 79.11%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the sale, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Medtronic

Several institutional investors have recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Medtronic by 1,368.0% in the 4th quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares in the last quarter. Sivia Capital Partners LLC boosted its position in Medtronic by 9.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,356 shares of the medical technology company’s stock worth $380,000 after acquiring an additional 381 shares during the period. Lifeworks Advisors LLC bought a new position in shares of Medtronic in the second quarter worth $233,000. Aviance Capital Partners LLC increased its holdings in shares of Medtronic by 19.0% during the second quarter. Aviance Capital Partners LLC now owns 5,382 shares of the medical technology company’s stock valued at $469,000 after purchasing an additional 858 shares during the period. Finally, Plato Investment Management Ltd raised its stake in shares of Medtronic by 2.1% during the second quarter. Plato Investment Management Ltd now owns 40,280 shares of the medical technology company’s stock valued at $3,498,000 after purchasing an additional 833 shares in the last quarter. Institutional investors 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).