Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research analysts also recently commented on MDT. UBS Group raised their price target on shares of Medtronic from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Leerink Partners assumed coverage on shares of Medtronic in a research note on Monday, June 16th. They set an “outperform” rating and a $110.00 price target for the company. Leerink Partnrs upgraded Medtronic to a “strong-buy” rating in a report on Monday, June 16th. Finally, Truist Financial raised their price objective on Medtronic from $92.00 to $96.00 and gave the stock a “hold” rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.14.

Medtronic Price Performance

Shares of MDT stock opened at $92.72 on Friday. The stock has a 50 day moving average price of $90.45 and a 200 day moving average price of $88.02. Medtronic has a 52-week low of $79.29 and a 52-week high of $96.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a market capitalization of $118.93 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.36 and a beta of 0.77.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company had revenue of $8.58 billion for the quarter, compared to the consensus estimate of $8.37 billion. During the same quarter in the prior year, the company posted $1.23 EPS. Medtronic’s quarterly revenue was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, sell-side analysts predict that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 26th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is 78.24%.

Insider Activity

In related news, Director William R. Jellison purchased 2,500 shares of the business’s stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently added to or reduced their stakes in the stock. 1248 Management LLC purchased a new stake in shares of Medtronic during the first quarter valued at about $26,000. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in Medtronic during the second quarter valued at approximately $27,000. Columbia River Financial Group LLC purchased a new stake in Medtronic during the first quarter valued at approximately $28,000. Finally, Twin Tree Management LP acquired a new stake in Medtronic in the first quarter valued at approximately $29,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Company Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.