Medtronic (NYSE:MDT) Rating Increased to Buy 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 Friday morning.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Medtronic from $107.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 19th. Jefferies Financial Group restated a “hold” rating and set a $110.00 price target on shares of Medtronic in a research report on Wednesday, November 19th. TD Cowen reaffirmed a “buy” rating on shares of Medtronic in a research note on Friday, November 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Medtronic in a research note on Monday, December 29th. Finally, Leerink Partners set a $120.00 target price on Medtronic and gave the company an “outperform” rating in a report on Wednesday, November 19th. Fourteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Medtronic currently has an average rating of “Moderate Buy” and a consensus target price of $110.28.

Medtronic Stock Performance

NYSE MDT opened at $100.98 on Friday. The stock has a fifty day simple moving average of $99.44 and a 200-day simple moving average of $95.23. The company has a current ratio of 2.42, a quick ratio of 1.80 and a debt-to-equity ratio of 0.57. The stock has a market cap of $129.45 billion, a PE ratio of 27.22, a P/E/G ratio of 2.67 and a beta of 0.71. Medtronic has a twelve month low of $79.55 and a twelve month high of $106.33.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 earnings per share (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 net margin of 13.71% and a return on equity of 14.86%. Medtronic’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Equities analysts anticipate that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, December 26th. This represents a $2.84 annualized dividend and a yield of 2.8%. Medtronic’s dividend payout ratio is 76.55%.

Hedge Funds Weigh In On Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bridgewater Advisors Inc. increased its stake in shares of Medtronic by 10.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,705 shares of the medical technology company’s stock worth $372,000 after buying an additional 343 shares during the period. Bingham Private Wealth LLC acquired a new position in Medtronic during the 4th quarter worth approximately $203,000. Farther Finance Advisors LLC increased its position in shares of Medtronic by 5.8% in the 4th quarter. Farther Finance Advisors LLC now owns 71,699 shares of the medical technology company’s stock valued at $6,887,000 after purchasing an additional 3,957 shares during the last quarter. Freestone Capital Holdings LLC raised its holdings in shares of Medtronic by 4.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 25,166 shares of the medical technology company’s stock valued at $2,417,000 after purchasing an additional 996 shares in the last quarter. Finally, Natural Investments LLC lifted its position in shares of Medtronic by 18.4% during the 4th quarter. Natural Investments LLC now owns 4,901 shares of the medical technology company’s stock worth $470,000 after purchasing an additional 762 shares during the last quarter. Hedge funds and other institutional investors own 82.06% of the company’s stock.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).