Medtronic (NYSE:MDT) Sees Strong Trading Volume – Still a Buy?
by Kim Johansen · The Markets DailyShares of Medtronic PLC (NYSE:MDT – Get Free Report) saw an uptick in trading volume on Tuesday. Approximately 32,780,431 shares traded hands during mid-day trading, an increase of 238% from the previous session’s volume of 9,703,300 shares. The stock last traded at $86.5610 and had previously closed at $87.97.
Wall Street Analysts Forecast Growth
MDT has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Medtronic from $102.00 to $104.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. Piper Sandler reiterated a “neutral” rating on shares of Medtronic in a report on Monday, August 10th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, September 4th. Finally, Evercore set a $105.00 price objective on shares of Medtronic in a research note on Monday, July 6th. Nineteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Medtronic has an average rating of “Moderate Buy” and a consensus target price of $103.92.
Get Our Latest Analysis on MDT
Medtronic Price Performance
The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The stock’s 50-day moving average price is $90.22 and its 200 day moving average price is $84.76. The firm has a market cap of $110.67 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. Medtronic had a return on equity of 14.78% and a net margin of 13.93%.The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Equities research analysts predict that Medtronic PLC will post 5.98 earnings per share for the current year.
Medtronic Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 25th will be paid a $0.72 dividend. The ex-dividend date is Friday, September 25th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.3%. Medtronic’s dividend payout ratio is currently 70.94%.
Insiders Place Their Bets
In related news, EVP Harry Kiil sold 1,483 shares of the 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 transaction, the executive vice president 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 document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Medtronic
Several large investors have recently modified their holdings of the stock. Rosenberg Matthew Hamilton lifted its position in shares of Medtronic by 65.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 695 shares of the medical technology company’s stock worth $60,000 after buying an additional 276 shares during the period. Adelphi Trust Co raised its stake in Medtronic by 5.6% during the third quarter. Adelphi Trust Co now owns 3,245 shares of the medical technology company’s stock worth $280,000 after acquiring an additional 173 shares in the last quarter. Eastern Bank raised its stake in Medtronic by 2.9% during the third quarter. Eastern Bank now owns 21,610 shares of the medical technology company’s stock worth $1,865,000 after acquiring an additional 613 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of Medtronic by 10.2% during the third quarter. Rockland Trust Co. now owns 10,113 shares of the medical technology company’s stock valued at $873,000 after acquiring an additional 936 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after purchasing an additional 19,315 shares in the last quarter. 82.06% of the stock is currently owned by institutional investors.
Medtronic Company Profile
Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.
The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.
Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.