Medtronic (NYSE:MDT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also commented on the company. BTIG Research upped their target price on Medtronic from $91.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Weiss Ratings raised Medtronic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 4th. Stifel Nicolaus boosted their price objective on Medtronic from $80.00 to $95.00 and gave the company a “hold” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $92.00 price objective on shares of Medtronic in a research note on Thursday, September 3rd. Finally, Evercore set a $105.00 target price on Medtronic in a research report on Monday, July 6th. Nineteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.92.

Medtronic Trading Up 1.9%

Medtronic stock opened at $88.02 on Friday. The firm’s 50-day moving average is $90.22 and its 200-day moving average is $84.76. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 2.07. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a market cap of $112.58 billion, a P/E ratio of 21.68, a PEG ratio of 1.97 and a beta of 0.55.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, September 1st. The medical technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.39 by $0.06. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $9.55 billion. Medtronic had a net margin of 13.93% and a return on equity of 14.78%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. Medtronic has set its Q2 2027 guidance at 1.320-1.340 EPS and its FY 2027 guidance at 5.940-6.000 EPS. On average, equities analysts expect that Medtronic will post 5.98 earnings per share for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 25th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 25th. Medtronic’s dividend payout ratio is 70.94%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Kiil sold 1,483 shares of Medtronic stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $93.65, for a total transaction of $138,882.95. Following the sale, the executive vice president owned 42,186 shares of the company’s stock, valued at $3,950,718.90. The trade was a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDT. Rosenberg Matthew Hamilton increased its holdings in shares of Medtronic by 65.9% during the third quarter. Rosenberg Matthew Hamilton now owns 695 shares of the medical technology company’s stock valued at $60,000 after purchasing an additional 276 shares during the period. Adelphi Trust Co lifted its holdings in Medtronic by 5.6% in the third quarter. Adelphi Trust Co now owns 3,245 shares of the medical technology company’s stock worth $280,000 after purchasing an additional 173 shares during the period. Eastern Bank lifted its holdings in Medtronic by 2.9% in the third quarter. Eastern Bank now owns 21,610 shares of the medical technology company’s stock worth $1,865,000 after purchasing an additional 613 shares during the period. Rockland Trust Co. grew its position in Medtronic by 10.2% in the 3rd quarter. Rockland Trust Co. now owns 10,113 shares of the medical technology company’s stock valued at $873,000 after buying an additional 936 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Medtronic by 14.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 149,708 shares of the medical technology company’s stock valued at $12,918,000 after buying an additional 19,315 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Key Medtronic News

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic was highlighted as a stable blue-chip dividend investment for a volatile market. The company’s income profile and improving business momentum may be attracting defensive investors. Why I Think These Are the 2 Smartest Stocks to Buy With $5,000 in October
• Positive Sentiment: Recent commentary argued that investors are underappreciating Medtronic’s turnaround and high-yield characteristics, supporting the view that the shares could be undervalued relative to the company’s long-term prospects. 2 High-Yield Stocks to Buy in October Without Any Hesitation
• Positive Sentiment: RBC Capital maintained its Buy rating on MDT, reinforcing Wall Street confidence in the company’s strategy and recovery potential. RBC Capital Keeps Their Buy Rating on Medtronic
• Positive Sentiment: Jim Cramer praised Medtronic’s latest quarter and CEO Geoff Martha’s execution, citing the company’s improved performance and comparatively attractive valuation. His comments added visibility to the bullish investment case, although he was not advocating a significant increase in his position. Jim Cramer Likes Medtronic at 14x Earnings
• Neutral Sentiment: Zacks reported that Medtronic outperformed the broader market in the latest session, but the article largely describes the market performance rather than identifying a new fundamental catalyst. Medtronic Outperforms Broader Market

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures devices, therapies and healthcare solutions for treating chronic and acute conditions. Its products are used in areas including cardiac and vascular care, neuroscience, medical and surgical procedures, and diabetes management.

The company’s portfolio includes pacemakers, implantable cardioverter-defibrillators, cardiac ablation systems, stents and other cardiovascular products; neuromodulation systems, deep-brain stimulation devices and spinal technologies; surgical instruments, robotic-assisted surgery systems and gastrointestinal diagnostic tools; and insulin pumps and related diabetes technologies.

Medtronic traces its origins to 1949, when Earl Bakken and Palmer Hermundslie founded the company in Minneapolis, Minnesota.