Medtronic PLC (NYSE:MDT) Stock Has Average Target Price of $102.88 According to Brokerages

Shares of Medtronic PLC (NYSE:MDT) have been given an average rating of “Moderate Buy” by the twenty-eight analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $102.88.

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $92.00 target price on shares of Medtronic in a research note on Thursday, September 3rd. BTIG Research decreased their price target on shares of Medtronic from $100.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Robert W. Baird increased their target price on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $118.00 price target on shares of Medtronic in a report on Wednesday, September 2nd.

Medtronic Stock Down 1.2%

Shares of MDT stock opened at $101.53 on Wednesday. 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 0.50, a current ratio of 2.07 and a quick ratio of 1.54. The company has a market capitalization of $129.87 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 2.41 and a beta of 0.56. The company’s fifty day moving average price is $93.15 and its 200-day moving average price is $88.46.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a return on equity of 14.78% and a net margin of 13.93%. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $9.55 billion. During the same period last year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. Sell-side analysts expect that Medtronic will post 5.98 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Friday, September 25th were issued a $0.72 dividend. The ex-dividend date was Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.8%. Medtronic’s dividend payout ratio is presently 70.94%.

Insider Buying and Selling

In related news, EVP Harry Kiil sold 1,483 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $93.65, for a total value of $138,882.95. Following the completion of the sale, the executive vice president directly owned 42,186 shares of the company’s stock, valued at $3,950,718.90. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Geoffrey Martha sold 50,000 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $95.00, for a total value of $4,750,000.00. Following the sale, the chief executive officer owned 277,866 shares of the company’s stock, valued at approximately $26,397,270. This represents a 15.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,903 shares of company stock valued at $5,889,203 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in Medtronic by 0.7% in the 2nd quarter. BlackRock Inc. now owns 114,020,787 shares of the medical technology company’s stock worth $8,919,846,000 after buying an additional 838,220 shares during the period. State Street Corp boosted its holdings in Medtronic by 2.7% in the second quarter. State Street Corp now owns 63,399,315 shares of the medical technology company’s stock valued at $5,005,320,000 after purchasing an additional 1,658,301 shares during the last quarter. Bank of America Corp DE grew its position in Medtronic by 5.4% during the 1st quarter. Bank of America Corp DE now owns 26,015,003 shares of the medical technology company’s stock worth $2,254,200,000 after purchasing an additional 1,343,220 shares during the period. First Eagle Investment Management LLC grew its holdings in Medtronic by 1.2% during the third quarter. First Eagle Investment Management LLC now owns 13,948,408 shares of the medical technology company’s stock worth $1,203,608,000 after acquiring an additional 164,425 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $965,922,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc is a medical technology company that develops and manufactures devices and therapies for a range of health conditions. Its products include pacemakers and defibrillators, heart valves, surgical technologies, neurostimulation devices, and insulin pumps and other diabetes-management products. The company was founded in Minneapolis in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair business. It has since grown into a global company serving patients and health care providers in more than 150 countries.