Medtronic (NYSE:MDT) Upgraded to “Buy” at Needham & Company LLC

Needham & Company LLC upgraded shares of Medtronic (NYSE:MDT) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have $121.00 price objective on the medical technology company’s stock.

MDT has been the topic of several other reports. Jefferies Financial Group restated a “hold” rating and set a $110.00 price objective on shares of Medtronic in a research note on Wednesday, November 19th. UBS Group reissued a “neutral” rating and set a $104.00 price target on shares of Medtronic in a research report on Wednesday, February 4th. The Goldman Sachs Group set a $111.00 price objective on Medtronic and gave the company a “neutral” rating in a research note on Wednesday, November 19th. Wall Street Zen upgraded Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Medtronic from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $111.21.

Medtronic Stock Down 1.2%

MDT stock opened at $101.69 on Monday. The company has a market cap of $130.37 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.71 and a beta of 0.71. Medtronic has a twelve month low of $79.55 and a twelve month high of $106.33. The business has a 50 day moving average price of $99.37 and a two-hundred day moving average price of $96.22. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of 0.57.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 18th. The medical technology company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $8.96 billion during the quarter, compared to the consensus estimate of $8.86 billion. Medtronic had a return on equity of 14.86% and a net margin of 13.71%.The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts anticipate that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, December 26th were given 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 (DPR) is presently 76.55%.

Institutional Investors Weigh In On Medtronic

A number of institutional investors have recently modified their holdings of the business. AXQ Capital LP increased its position in shares of Medtronic by 25.6% during the 2nd quarter. AXQ Capital LP now owns 9,890 shares of the medical technology company’s stock valued at $862,000 after purchasing an additional 2,013 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Medtronic by 65.8% in the 3rd quarter. UMB Bank n.a. now owns 138,278 shares of the medical technology company’s stock worth $13,170,000 after buying an additional 54,898 shares during the last quarter. Principal Financial Group Inc. grew its position in Medtronic by 17.2% during the third quarter. Principal Financial Group Inc. now owns 1,656,155 shares of the medical technology company’s stock valued at $157,732,000 after buying an additional 242,910 shares during the period. Willis Investment Counsel increased its holdings in Medtronic by 5.0% during the third quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock worth $38,274,000 after buying an additional 19,192 shares during the last quarter. Finally, Sector Gamma AS raised its position in Medtronic by 35.5% in the third quarter. Sector Gamma AS now owns 303,441 shares of the medical technology company’s stock worth $28,900,000 after acquiring an additional 79,441 shares during the period. 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).