Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT – Free Report) from a hold rating to a buy rating in a research note released on Sunday,Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on MDT. Weiss Ratings raised shares of Medtronic from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $118.00 target price on shares of Medtronic in a report on Wednesday, September 2nd. Barclays raised shares of Medtronic to a “hold” rating in a report on Wednesday, October 7th. Needham & Company LLC restated a “buy” rating on shares of Medtronic in a research report on Thursday, September 17th. Finally, Truist Financial reaffirmed a “hold” rating and set a $99.00 price target (up from $86.00) on shares of Medtronic in a report on Wednesday, September 2nd. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.88.

Check Out Our Latest Research Report on MDT

Medtronic Price Performance

Medtronic stock opened at $101.53 on Friday. The stock’s fifty day moving average price is $93.15 and its two-hundred day moving average price is $88.46. 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 firm has a market cap of $129.87 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.56.

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

Medtronic Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Friday, September 25th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 25th. Medtronic’s dividend payout ratio is currently 70.94%.

Insider Buying and Selling

In other Medtronic news, CEO Geoffrey Martha sold 50,000 shares of Medtronic stock in a transaction dated 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 transaction, the chief executive officer owned 277,866 shares in the company, valued at $26,397,270. The trade was a 15.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Marinaro sold 10,420 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $96.00, for a total value of $1,000,320.00. Following the transaction, the executive vice president directly owned 105,916 shares of the company’s stock, valued at approximately $10,167,936. The trade was a 8.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 61,903 shares of company stock worth $5,889,203 in the last ninety days. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC increased its holdings in Medtronic by 37.4% in the 3rd quarter. Private Advisor Group LLC now owns 162,352 shares of the medical technology company’s stock worth $14,009,000 after purchasing an additional 44,181 shares in the last quarter. Ieq Capital LLC raised its position in Medtronic by 201.1% in the third quarter. Ieq Capital LLC now owns 304,001 shares of the medical technology company’s stock valued at $26,232,000 after purchasing an additional 203,045 shares during the last quarter. Focus Advisor Solutions LLC raised its position in Medtronic by 310.2% in the third quarter. Focus Advisor Solutions LLC now owns 64,112 shares of the medical technology company’s stock valued at $5,532,000 after purchasing an additional 48,483 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Medtronic by 32.4% in the third quarter. Checchi Capital Advisers LLC now owns 5,418 shares of the medical technology company’s stock valued at $468,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Medtronic by 22.9% during the third quarter. Boston Partners now owns 4,672,722 shares of the medical technology company’s stock valued at $403,236,000 after purchasing an additional 870,606 shares in the last quarter. 82.06% of the stock is owned by institutional investors.

Medtronic Company Profile

(Get Free Report)

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.

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