Medtronic (NYSE:MDT) Updates FY25 Earnings Guidance

Medtronic (NYSE:MDT) issued an update on its FY25 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.40-$5.50 for the period, compared to the consensus earnings per share estimate of $5.45.

Medtronic Stock Performance

Shares of MDT opened at $82.29 on Friday. The firm has a market capitalization of $109.27 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.71 and a current ratio of 2.03. The stock has a 50 day moving average price of $82.81 and a two-hundred day moving average price of $82.75. Medtronic has a 52 week low of $68.84 and a 52 week high of $91.00.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.45 by $0.01. The business had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.44 billion. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. Medtronic’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 earnings per share. Equities analysts forecast that Medtronic will post 5.45 earnings per share for the current fiscal year.

Medtronic Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.40%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. Medtronic’s dividend payout ratio is currently 100.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial dropped their target price on Medtronic from $90.00 to $88.00 and set a hold rating on the stock in a research report on Friday. Wells Fargo & Company increased their target price on Medtronic from $102.00 to $105.00 and gave the stock an overweight rating in a research report on Friday. Needham & Company LLC restated a hold rating on shares of Medtronic in a research report on Friday. Oppenheimer upped their price target on shares of Medtronic from $89.00 to $92.00 and gave the stock a market perform rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $92.00 price target on shares of Medtronic in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $94.45.

Insider Activity at Medtronic

In other news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is owned by insiders.

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.