Medtronic (NYSE:MDT) Hits New 12-Month High After Earnings Beat

Medtronic PLC (NYSE:MDT)’s stock price reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $102.48 and last traded at $101.2850, with a volume of 3791313 shares traded. The stock had previously closed at $96.28.

The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $8.96 billion for the quarter, compared to analyst estimates of $8.86 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS.

Analyst Upgrades and Downgrades

MDT has been the subject of a number of recent analyst reports. UBS Group upped their target price on Medtronic from $94.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Citigroup raised their price objective on Medtronic from $101.00 to $112.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Thursday, August 14th. Robert W. Baird increased their price objective on Medtronic from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company boosted their target price on shares of Medtronic from $98.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Medtronic has an average rating of “Moderate Buy” and an average target price of $103.06.

Insider Activity at Medtronic

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. 1248 Management LLC acquired a new stake in Medtronic in the 1st quarter worth approximately $26,000. Delos Wealth Advisors LLC purchased a new stake in shares of Medtronic in the second quarter worth about $27,000. Corundum Trust Company INC purchased a new stake in Medtronic in the 3rd quarter worth approximately $27,000. Twin Tree Management LP acquired a new stake in Medtronic during the first quarter valued at $29,000. Finally, Valley Wealth Managers Inc. acquired a new position in Medtronic in the 3rd quarter worth about $29,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Up 4.7%

The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $94.64 and a 200-day moving average price of $90.63. The stock has a market cap of $129.33 billion, a PE ratio of 27.78, a price-to-earnings-growth ratio of 2.42 and a beta of 0.77.

About Medtronic

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.