Medtronic (NYSE:MDT) Price Target Lowered to $91.00 at Piper Sandler

Medtronic (NYSE:MDT) had its price target reduced by Piper Sandler from $105.00 to $91.00 in a research note released on Wednesday,Benzinga reports. They currently have a neutral rating on the medical technology company’s stock.

Several other brokerages have also recently commented on MDT. Barclays reaffirmed an “overweight” rating and set a $118.00 price objective on shares of Medtronic in a research note on Wednesday, February 18th. Wells Fargo & Company initiated coverage on shares of Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price target for the company. Daiwa Securities Group reduced their price target on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, February 27th. UBS Group reaffirmed a “neutral” rating and issued a $104.00 price target on shares of Medtronic in a report on Wednesday, February 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Medtronic in a research report on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.85.

Medtronic Stock Performance

Shares of MDT opened at $86.13 on Wednesday. Medtronic has a 52-week low of $79.55 and a 52-week high of $106.33. The stock’s 50-day simple moving average is $95.05 and its 200 day simple moving average is $96.34. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. The stock has a market capitalization of $110.58 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 2.23 and a beta of 0.75.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The business had revenue of $9.02 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Research analysts forecast that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 27th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, March 27th. Medtronic’s payout ratio is currently 79.11%.

Insider Transactions at Medtronic

In related news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total value of $5,132,120.04. Following the completion of the transaction, the executive vice president directly owned 32,768 shares in the company, valued at approximately $3,201,761.28. The trade was a 61.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Medtronic during the 4th quarter valued at about $1,653,485,000. Capital Research Global Investors boosted its stake in Medtronic by 12.6% in the fourth quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock worth $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Barclays PLC boosted its stake in Medtronic by 104.6% in the third quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock worth $650,604,000 after buying an additional 3,492,192 shares in the last quarter. Schroder Investment Management Group grew its position in Medtronic by 78.3% during the third quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after acquiring an additional 3,307,211 shares during the last quarter. Finally, Guinness Asset Management LTD purchased a new position in shares of Medtronic during the third quarter worth approximately $275,556,000. 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).