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Medtronic (NYSE:MDT) PT Lowered to $95.00 at Mizuho

Financial News Live · Jan 27, 2023 05:54

Medtronic (NYSE:MDT – Get Rating) had its target price lowered by Mizuho from $100.00 to $95.00 in a report published on Tuesday morning, The Fly reports. The brokerage currently has a buy rating on the medical technology company's stock.

Several other research firms have also commented on MDT. Wells Fargo & Company reduced their price objective on Medtronic from $82.00 to $77.00 and set an equal weight rating for the company in a research note on Wednesday, November 30th. Oppenheimer lowered Medtronic from an outperform rating to a market perform rating and cut their price target for the stock from $106.00 to $85.00 in a research note on Wednesday, November 23rd. Stifel Nicolaus cut their price target on Medtronic from $105.00 to $90.00 in a research note on Wednesday, November 23rd. Morgan Stanley cut their price target on Medtronic from $97.00 to $88.00 and set an equal weight rating for the company in a research note on Wednesday, November 23rd. Finally, Truist Financial cut their price target on Medtronic from $89.00 to $84.00 in a research note on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Medtronic has a consensus rating of Hold and a consensus target price of $94.25.

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Medtronic Price Performance

NYSE MDT opened at $81.84 on Tuesday. The business's fifty day moving average price is $78.87 and its 200-day moving average price is $84.55. The stock has a market capitalization of $108.86 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.99 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.76 and a quick ratio of 1.41. Medtronic has a 1-year low of $75.76 and a 1-year high of $114.31.

Medtronic (NYSE:MDT – Get Rating) last posted its quarterly earnings data on Tuesday, November 22nd. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.28 by $0.02. The firm had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.70 billion. Medtronic had a return on equity of 13.52% and a net margin of 14.03%. Medtronic's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 EPS. On average, equities analysts predict that Medtronic will post 5.26 earnings per share for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Wednesday, December 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, December 20th. Medtronic's payout ratio is currently 84.47%.

Insiders Place Their Bets

In other Medtronic news, EVP Sean Salmon sold 16,631 shares of the firm's stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $80.50, for a total value of $1,338,795.50. Following the completion of the sale, the executive vice president now owns 36,088 shares of the company's stock, valued at $2,905,084. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Institutional Trading of Medtronic

Several institutional investors have recently added to or reduced their stakes in MDT. Bivin & Associates Inc. increased its position in shares of Medtronic by 1.1% during the second quarter. Bivin & Associates Inc. now owns 9,785 shares of the medical technology company's stock worth $878,000 after acquiring an additional 110 shares during the period. Abbrea Capital LLC increased its position in shares of Medtronic by 1.7% during the second quarter. Abbrea Capital LLC now owns 6,632 shares of the medical technology company's stock worth $600,000 after acquiring an additional 112 shares during the period. HighTower Trust Services LTA increased its position in shares of Medtronic by 2.4% during the second quarter. HighTower Trust Services LTA now owns 4,819 shares of the medical technology company's stock worth $424,000 after acquiring an additional 113 shares during the period. Hotaling Investment Management LLC increased its position in shares of Medtronic by 0.6% during the second quarter. Hotaling Investment Management LLC now owns 20,675 shares of the medical technology company's stock worth $1,856,000 after acquiring an additional 114 shares during the period. Finally, Bank of Stockton increased its position in shares of Medtronic by 1.2% during the second quarter. Bank of Stockton now owns 10,058 shares of the medical technology company's stock worth $903,000 after acquiring an additional 115 shares during the period. Institutional investors own 80.37% of the company's stock.

About Medtronic

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Medtronic Plc is a medical technology company, which engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. It operates through the following segments: Cardiovascular Porrtfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.