Weekly Investment Analysts’ Ratings Updates for Medtronic (MDT)

Several analysts have recently updated their ratings and price targets for Medtronic (NYSE: MDT):

• 10/14/2024 – Medtronic had its price target raised by analysts at Truist Financial Co. from $90.00 to $93.00. They now have a “hold” rating on the stock.
• 10/10/2024 – Medtronic was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $105.00 price target on the stock, up previously from $98.00.
• 10/8/2024 – Medtronic had its price target raised by analysts at Royal Bank of Canada from $92.00 to $98.00. They now have a “sector perform” rating on the stock.
• 10/1/2024 – Medtronic had its price target raised by analysts at Evercore ISI from $100.00 to $104.00. They now have an “outperform” rating on the stock.
• 10/1/2024 – Medtronic had its price target raised by analysts at Citigroup Inc. from $85.00 to $92.00. They now have a “neutral” rating on the stock.
• 8/23/2024 – Medtronic was upgraded by analysts at Daiwa America to a “strong-buy” rating.
• 8/23/2024 – Medtronic had its price target raised by analysts at Truist Financial Co. from $85.00 to $90.00. They now have a “hold” rating on the stock.
• 8/22/2024 – Medtronic had its price target raised by analysts at Barclays PLC from $104.00 to $105.00. They now have an “overweight” rating on the stock.
• 8/21/2024 – Medtronic had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $92.00 price target on the stock.
• 8/21/2024 – Medtronic had its price target raised by analysts at Wells Fargo & Company from $105.00 to $106.00. They now have an “overweight” rating on the stock.
• 8/21/2024 – Medtronic had its price target raised by analysts at Piper Sandler from $85.00 to $90.00. They now have a “neutral” rating on the stock.
• 8/21/2024 – Medtronic had its price target raised by analysts at Robert W. Baird from $82.00 to $90.00. They now have a “neutral” rating on the stock.
• 8/21/2024 – Medtronic had its price target raised by analysts at Oppenheimer Holdings Inc. from $92.00 to $94.00. They now have a “market perform” rating on the stock.
• 8/21/2024 – Medtronic had its price target raised by analysts at Stifel Nicolaus from $85.00 to $87.00. They now have a “hold” rating on the stock.
• 8/20/2024 – Medtronic had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

Medtronic Stock Performance

NYSE:MDT opened at $89.99 on Thursday. The firm has a market capitalization of $115.39 billion, a PE ratio of 32.72, a PEG ratio of 2.53 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. Medtronic plc has a 1 year low of $68.84 and a 1 year high of $91.49. The firm’s fifty day simple moving average is $88.10 and its 200 day simple moving average is $83.52.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Medtronic plc will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. Medtronic’s payout ratio is 101.82%.

Hedge Funds Weigh In On Medtronic

Several large investors have recently bought and sold shares of the stock. First PREMIER Bank raised its position in shares of Medtronic by 1.8% during the third quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after buying an additional 116 shares during the last quarter. Quent Capital LLC raised its holdings in Medtronic by 8.0% in the 1st quarter. Quent Capital LLC now owns 1,680 shares of the medical technology company’s stock valued at $146,000 after acquiring an additional 125 shares in the last quarter. Abbrea Capital LLC lifted its position in shares of Medtronic by 2.5% in the 1st quarter. Abbrea Capital LLC now owns 5,077 shares of the medical technology company’s stock worth $446,000 after acquiring an additional 125 shares during the period. Waterway Wealth Management LLC grew its holdings in shares of Medtronic by 4.8% during the 2nd quarter. Waterway Wealth Management LLC now owns 2,759 shares of the medical technology company’s stock worth $217,000 after purchasing an additional 126 shares in the last quarter. Finally, Americana Partners LLC increased its position in shares of Medtronic by 2.0% during the second quarter. Americana Partners LLC now owns 6,667 shares of the medical technology company’s stock valued at $525,000 after purchasing an additional 128 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

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.