Medtronic (NYSE:MDT) Upgraded by Mizuho to Strong-Buy Rating

Mizuho upgraded shares of Medtronic (NYSE:MDT) to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group set a $111.00 price objective on shares of Medtronic and gave the stock a “neutral” rating in a research report on Wednesday, November 19th. Leerink Partners cut their price target on Medtronic from $120.00 to $119.00 and set an “outperform” rating on the stock in a research note on Wednesday. Citigroup began coverage on Medtronic in a report on Tuesday, February 3rd. They set a “buy” rating and a $117.00 price target for the company. Wells Fargo & Company assumed coverage on Medtronic in a report on Friday, January 30th. They issued an “overweight” rating and a $114.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their target price on Medtronic from $111.00 to $118.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.05.

Medtronic Stock Down 0.2%

MDT stock traded down $0.24 during mid-day trading on Wednesday, reaching $97.34. The company had a trading volume of 1,261,937 shares, compared to its average volume of 8,588,388. The firm has a fifty day simple moving average of $99.10 and a 200 day simple moving average of $96.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.80 and a current ratio of 2.42. The company has a market capitalization of $124.79 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.60 and a beta of 0.71. Medtronic has a fifty-two week low of $79.55 and a fifty-two week high of $106.33.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The firm had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a net margin of 13.00% and a return on equity of 14.88%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. Medtronic has set its FY 2026 guidance at 5.620-5.660 EPS. Analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, December 26th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, December 26th. Medtronic’s dividend payout ratio (DPR) is currently 76.55%.

Institutional Investors Weigh In On Medtronic

Several large investors have recently modified their holdings of MDT. AXQ Capital LP boosted its stake in Medtronic by 25.6% in 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 period. UMB Bank n.a. lifted its holdings 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 in the last quarter. Applied Finance Capital Management LLC acquired a new stake in shares of Medtronic during the third quarter worth $1,308,000. Principal Financial Group Inc. boosted its position in shares of Medtronic by 17.2% in 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 acquiring an additional 242,910 shares during the period. Finally, Willis Investment Counsel grew its stake in shares of Medtronic by 5.0% in the third quarter. Willis Investment Counsel now owns 401,868 shares of the medical technology company’s stock valued at $38,274,000 after acquiring an additional 19,192 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Company Profile

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).