Medtronic (NYSE:MDT) Price Target Raised to $103.00

Medtronic (NYSE:MDT) had its price objective lifted by Truist Financial from $96.00 to $103.00 in a report published on Wednesday morning, Marketbeat reports. Truist Financial currently has a hold rating on the medical technology company’s stock.

Several other equities analysts have also recently commented on the stock. Wolfe Research raised shares of Medtronic from an “underperform” rating to a “peer perform” rating in a research report on Monday, June 30th. Sanford C. Bernstein raised their target price on shares of Medtronic from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Argus raised their target price on shares of Medtronic from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, August 26th. Mizuho raised their target price on shares of Medtronic from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $111.00 target price on shares of Medtronic in a report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.82.

Medtronic Stock Performance

Shares of MDT stock opened at $95.62 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic has a one year low of $79.29 and a one year high of $99.37. The company’s 50-day simple moving average is $94.07 and its 200-day simple moving average is $88.98. The stock has a market capitalization of $122.65 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 2.50 and a beta of 0.78.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.23 by $0.03. Medtronic had a net margin of 13.63% and a return on equity of 14.61%. The business had revenue of $8.58 billion for the quarter, compared to analysts’ expectations of $8.37 billion. During the same quarter last year, the company posted $1.23 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. Equities analysts anticipate that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, September 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, September 26th. Medtronic’s dividend payout ratio (DPR) is currently 78.24%.

Insider Buying and Selling

In related news, Director William R. Jellison acquired 2,500 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the completion of the purchase, the director directly owned 5,000 shares of the company’s stock, valued at $461,850. The trade was a 100.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Harry Skip Kiil sold 8,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $91.58, for a total transaction of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at $3,261,621.70. This represents a 19.46% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDT. Brighton Jones LLC grew its position in Medtronic by 1,368.0% in the fourth quarter. Brighton Jones LLC now owns 39,989 shares of the medical technology company’s stock worth $3,194,000 after buying an additional 37,265 shares during the last quarter. GAMMA Investing LLC grew its position in Medtronic by 41.1% in the first quarter. GAMMA Investing LLC now owns 15,882 shares of the medical technology company’s stock worth $1,427,000 after buying an additional 4,626 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Medtronic by 11.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 531,059 shares of the medical technology company’s stock worth $47,721,000 after buying an additional 53,340 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Medtronic in the first quarter worth approximately $850,000. Finally, Inscription Capital LLC acquired a new position in Medtronic in the first quarter worth approximately $743,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.