Medtronic (NYSE:MDT) Price Target Raised to $120.00 at Barclays

Medtronic (NYSE:MDT) had its price objective increased by Barclays from $118.00 to $120.00 in a research note published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the medical technology company’s stock.

A number of other research firms have also weighed in on MDT. Citigroup began coverage on shares of Medtronic in a research note on Tuesday, February 3rd. They set a “buy” rating and a $117.00 target price on the stock. Wall Street Zen upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Robert W. Baird dropped their price objective on shares of Medtronic from $103.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Daiwa Securities Group reduced their price objective on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.85.

Medtronic Trading Down 0.6%

NYSE:MDT opened at $86.13 on Wednesday. Medtronic has a 12-month low of $79.55 and a 12-month high of $106.33. The firm has a market cap of $110.58 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.23 and a beta of 0.75. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $95.05 and a 200 day moving average price of $96.34.

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

Medtronic Announces Dividend

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 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, March 27th. Medtronic’s dividend payout ratio is currently 79.11%.

Insiders Place Their Bets

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $97.71, for a total transaction of $5,132,120.04. Following the sale, the executive vice president owned 32,768 shares of the company’s stock, valued at approximately $3,201,761.28. This trade represents a 61.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership grew its position in Medtronic by 2.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 1,234,550 shares of the medical technology company’s stock worth $117,579,000 after purchasing an additional 31,314 shares during the last quarter. SageView Advisory Group LLC raised its holdings in shares of Medtronic by 164.8% in the third quarter. SageView Advisory Group LLC now owns 24,204 shares of the medical technology company’s stock valued at $2,305,000 after buying an additional 15,062 shares during the last quarter. CSM Advisors LLC raised its holdings in shares of Medtronic by 13.2% in the third quarter. CSM Advisors LLC now owns 285,260 shares of the medical technology company’s stock valued at $27,169,000 after buying an additional 33,167 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Medtronic by 65.8% during the third 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 period. Finally, Applied Finance Capital Management LLC acquired a new stake in shares of Medtronic during the third quarter worth about $1,308,000. Institutional investors and hedge funds 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).