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 issued to investors on Saturday morning.

Several other equities research analysts also recently issued reports on the company. Citigroup started coverage on Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price objective on the stock. Morgan Stanley raised their price target on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Robert W. Baird dropped their price target on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Truist Financial cut their price target on shares of Medtronic from $110.00 to $107.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Mizuho raised shares of Medtronic to a “strong-buy” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.84.

Read Our Latest Stock Report on Medtronic

Medtronic Price Performance

Shares of MDT stock opened at $98.54 on Friday. The firm has a fifty day simple moving average of $99.03 and a 200-day simple moving average of $96.80. The company has a market capitalization of $126.33 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.43 and a beta of 0.71. Medtronic has a twelve month low of $79.55 and a twelve month high of $106.33. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The medical technology company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.88%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities research analysts anticipate that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Friday, December 26th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is presently 79.11%.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently bought and sold shares of the business. AXQ Capital LP lifted its position in Medtronic by 25.6% in the second quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock worth $862,000 after purchasing an additional 2,013 shares during the period. UMB Bank n.a. increased its position in shares of Medtronic by 65.8% during the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock valued at $13,170,000 after purchasing an additional 54,898 shares during the period. Applied Finance Capital Management LLC bought a new stake in shares of Medtronic in the 3rd quarter worth $1,308,000. Principal Financial Group Inc. raised its stake in shares of Medtronic by 17.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock worth $157,732,000 after buying an additional 242,910 shares in the last quarter. Finally, Willis Investment Counsel lifted its holdings in shares of Medtronic by 5.0% in the third quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after buying an additional 19,192 shares during the period. Institutional investors and hedge funds own 82.06% of the company’s stock.

More Medtronic News

Here are the key news stories impacting Medtronic this week:

About Medtronic

(Get Free Report)

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).

See Also