Medtronic (NYSE:MDT) Trading Up 4.1% Following Strong Earnings

Medtronic PLC (NYSE:MDT) shares were up 4.1% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $94.44 and last traded at $93.61. Approximately 2,446,104 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 7,689,072 shares. The stock had previously closed at $89.90.

The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Medtronic had a return on equity of 14.56% and a net margin of 13.63%.The business had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.37 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 26th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 26th. Medtronic’s dividend payout ratio is 78.24%.

Analyst Ratings Changes

MDT has been the subject of a number of research analyst reports. Wall Street Zen downgraded Medtronic from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Sanford C. Bernstein upped their price target on Medtronic from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Wednesday. Evercore ISI upped their price target on Medtronic from $103.00 to $106.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. UBS Group upped their price target on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, William Blair raised Medtronic to a “hold” rating in a report on Friday, July 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.54.

Institutional Investors Weigh In On Medtronic

Several large investors have recently modified their holdings of the stock. Cape Investment Advisory Inc. raised its holdings in shares of Medtronic by 3.2% during the 2nd quarter. Cape Investment Advisory Inc. now owns 3,605 shares of the medical technology company’s stock valued at $314,000 after buying an additional 113 shares during the period. Gilbert & Cook Inc. raised its holdings in shares of Medtronic by 1.9% during the 2nd quarter. Gilbert & Cook Inc. now owns 6,103 shares of the medical technology company’s stock valued at $532,000 after buying an additional 114 shares during the period. Red Spruce Capital LLC raised its holdings in shares of Medtronic by 0.5% during the 2nd quarter. Red Spruce Capital LLC now owns 23,707 shares of the medical technology company’s stock valued at $2,067,000 after buying an additional 118 shares during the period. Certior Financial Group LLC raised its holdings in shares of Medtronic by 3.7% during the 1st quarter. Certior Financial Group LLC now owns 3,450 shares of the medical technology company’s stock valued at $310,000 after buying an additional 122 shares during the period. Finally, Florida Financial Advisors LLC raised 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. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 3.6%

The firm has a market capitalization of $119.38 billion, a PE ratio of 25.66, a P/E/G ratio of 2.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 1.85. The firm has a fifty day moving average of $89.57 and a 200 day moving average of $88.02.

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.