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 report published on Friday morning.

A number of other research firms also recently issued reports on MDT. Morgan Stanley increased their price target on Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. UBS Group increased their target price on shares of Medtronic from $95.00 to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, November 19th. Leerink Partners set a $120.00 price target on shares of Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. Wells Fargo & Company upped their price target on shares of Medtronic from $100.00 to $114.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $110.00 price objective on shares of Medtronic in a report on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.28.

Medtronic Trading Down 0.4%

Shares of MDT opened at $100.98 on Friday. The firm has a market capitalization of $129.45 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 2.66 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.42 and a quick ratio of 1.80. Medtronic has a 1-year low of $79.55 and a 1-year high of $106.33. The company has a 50-day moving average of $99.44 and a 200 day moving average of $95.32.

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

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is 76.55%.

Institutional Investors Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Medtronic by 1.5% during the second quarter. Vanguard Group Inc. now owns 126,909,406 shares of the medical technology company’s stock valued at $11,062,693,000 after acquiring an additional 1,895,165 shares in the last quarter. State Street Corp grew its position in Medtronic by 1.0% during the 3rd quarter. State Street Corp now owns 60,460,537 shares of the medical technology company’s stock worth $5,800,550,000 after purchasing an additional 625,992 shares during the last quarter. Geode Capital Management LLC increased its stake in Medtronic by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 28,227,006 shares of the medical technology company’s stock valued at $2,448,699,000 after purchasing an additional 310,684 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Medtronic by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 21,468,260 shares of the medical technology company’s stock worth $2,044,637,000 after buying an additional 192,410 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Medtronic by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,086,499 shares of the medical technology company’s stock worth $2,008,278,000 after buying an additional 98,220 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other 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).