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

Wall Street Zen downgraded shares of Medtronic (NYSE:MDT) from a buy rating to a hold rating in a report published on Saturday.

Several other brokerages have also recently commented on MDT. JPMorgan Chase & Co. boosted their price target on Medtronic from $90.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a research note on Friday, November 14th. Royal Bank Of Canada increased their price target on shares of Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Robert W. Baird set a $103.00 price target on shares of Medtronic in a report on Tuesday, December 16th. Finally, Truist Financial reduced their price objective on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.94.

Medtronic Stock Performance

Shares of MDT opened at $97.32 on Friday. The company has a market capitalization of $124.77 billion, a PE ratio of 26.23, a PEG ratio of 2.53 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company’s 50 day moving average price is $97.71 and its 200 day moving average price is $94.21. Medtronic has a 52 week low of $79.55 and a 52 week high of $106.33.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Friday, December 26th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is 76.55%.

Hedge Funds Weigh In On Medtronic

Institutional investors have recently made changes to their positions in the business. 1248 Management LLC bought a new stake in shares of Medtronic in the first quarter valued at approximately $26,000. Delos Wealth Advisors LLC acquired a new stake in Medtronic in the 2nd quarter worth $27,000. Corundum Trust Company INC bought a new position in shares of Medtronic during the 3rd quarter worth about $27,000. Valley Wealth Managers Inc. acquired a new position in shares of Medtronic during the third quarter valued at about $29,000. Finally, GoalVest Advisory LLC acquired a new stake in Medtronic during the fourth quarter worth about $29,000. 82.06% of the stock is currently owned by institutional investors.

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).