Medtronic (NYSE:MDT) Posts Quarterly Earnings Results

Medtronic (NYSE:MDT) posted its quarterly earnings data on Tuesday. The medical technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.03, Zacks reports. Medtronic had a net margin of 13.90% and a return on equity of 14.54%. Medtronic updated its FY 2026 guidance to 5.600-5.660 EPS.

Medtronic Price Performance

Medtronic stock opened at $92.74 on Tuesday. Medtronic has a 52 week low of $79.29 and a 52 week high of $96.25. The business has a 50-day simple moving average of $89.43 and a 200 day simple moving average of $87.97. The company has a quick ratio of 1.42, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The stock has a market cap of $118.87 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 2.42 and a beta of 0.80.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 26th will be given a $0.71 dividend. The ex-dividend date is Friday, September 26th. This represents a $2.84 annualized dividend and a dividend yield of 3.1%. Medtronic’s payout ratio is 78.45%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup upped their target price on Medtronic from $98.00 to $99.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Evercore ISI increased their price objective on Medtronic from $103.00 to $106.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Leerink Partners started coverage on Medtronic in a report on Monday, June 16th. They set an “outperform” rating and a $110.00 target price on the stock. Royal Bank Of Canada decreased their price target on Medtronic from $105.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, May 22nd. Finally, Mizuho raised their price target on Medtronic from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.19.

Hedge Funds Weigh In On Medtronic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chapman Financial Group LLC purchased a new position in shares of Medtronic during the 2nd quarter worth approximately $37,000. Binnacle Investments Inc lifted its holdings in shares of Medtronic by 7.0% during the 2nd quarter. Binnacle Investments Inc now owns 2,278 shares of the medical technology company’s stock valued at $199,000 after buying an additional 150 shares during the period. Florida Financial Advisors LLC lifted its holdings in shares of Medtronic by 4.8% during the 2nd quarter. Florida Financial Advisors LLC now owns 2,683 shares of the medical technology company’s stock valued at $234,000 after buying an additional 122 shares during the period. Talisman Wealth Advisors LLC bought a new position in Medtronic in the 2nd quarter worth $242,000. Finally, Jump Financial LLC bought a new position in Medtronic in the 2nd quarter worth $299,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Company Profile

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.