Medtronic (NYSE:MDT) Issues Earnings Results, Beats Expectations By $0.04 EPS

Medtronic (NYSE:MDT) posted its earnings results on Wednesday. The medical technology company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.04, Zacks reports. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.81 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. Medtronic updated its FY 2026 guidance to 5.500-5.600 EPS.

Medtronic Price Performance

Shares of MDT stock opened at $80.93 on Friday. Medtronic has a 1 year low of $75.96 and a 1 year high of $96.25. The firm’s 50 day moving average is $85.29 and its 200-day moving average is $86.50. The firm has a market capitalization of $103.80 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 2.22 and a beta of 0.81. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Friday, June 27th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.51%. This is a positive change from Medtronic’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, June 27th. Medtronic’s dividend payout ratio is presently 85.11%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MDT. Robert W. Baird lowered their target price on shares of Medtronic from $94.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday. UBS Group upped their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Citigroup raised shares of Medtronic from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Finally, Mizuho decreased their price objective on shares of Medtronic from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.07.

Hedge Funds Weigh In On Medtronic

A hedge fund recently raised its stake in Medtronic stock. Brighton Jones LLC boosted its holdings in Medtronic plc (NYSE:MDT) by 1,368.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,989 shares of the medical technology company’s stock after buying an additional 37,265 shares during the period. Brighton Jones LLC’s holdings in Medtronic were worth $3,194,000 as of its most recent SEC filing. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.