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 research note released on Saturday morning,Wall Street Zen reports.

MDT has been the topic of several other research reports. UBS Group upped their target price on Medtronic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on Medtronic from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Evercore set a $105.00 price objective on Medtronic in a report on Monday, July 6th. JPMorgan Chase & Co. lowered their price objective on Medtronic from $100.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Finally, Mizuho set a $115.00 target price on Medtronic in a report on Wednesday, September 2nd. Nineteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.92.

Medtronic Stock Down 0.1%

MDT stock opened at $94.12 on Friday. Medtronic has a 1-year low of $73.31 and a 1-year high of $106.33. The business’s 50 day simple moving average is $87.05 and its 200 day simple moving average is $85.25. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $120.39 billion, a PE ratio of 23.18, a PEG ratio of 2.21 and a beta of 0.56.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.55 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. As a group, research analysts anticipate that Medtronic will post 5.96 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 25th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 25th. Medtronic’s dividend payout ratio (DPR) is 70.94%.

Institutional Trading of Medtronic

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its position in Medtronic by 7,655.7% during the 2nd quarter. California State Teachers Retirement System now owns 158,124,578 shares of the medical technology company’s stock worth $12,370,086,000 after purchasing an additional 156,085,748 shares in the last quarter. Norges Bank acquired a new stake in Medtronic in the fourth quarter valued at approximately $1,653,485,000. WCM Investment Management LLC acquired a new stake in Medtronic in the first quarter valued at approximately $965,922,000. Capital Research Global Investors grew its stake in shares of Medtronic by 12.6% during the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Medtronic by 37.2% during the second quarter. First Eagle Investment Management LLC now owns 13,783,983 shares of the medical technology company’s stock worth $1,078,321,000 after buying an additional 3,739,288 shares during 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 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).