Medtronic (NYSE:MDT) Announces Earnings Results

Medtronic (NYSE:MDT) posted its earnings results on Thursday. The medical technology company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.01, RTT News reports. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The firm had revenue of $8.59 billion during the quarter, compared to analyst estimates of $8.44 billion. During the same period in the previous year, the business posted $1.57 EPS. Medtronic’s revenue was up .5% on a year-over-year basis. Medtronic updated its FY25 guidance to $5.40-$5.50 EPS.

Medtronic Price Performance

Shares of NYSE:MDT opened at $82.29 on Friday. The company has a market capitalization of $109.27 billion, a PE ratio of 29.92, a price-to-earnings-growth 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 fifty day moving average of $82.81 and a 200-day moving average of $82.75. Medtronic has a one year low of $68.84 and a one year high of $91.00.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be given a $0.70 dividend. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. This represents a $2.80 annualized dividend and a yield of 3.40%. Medtronic’s payout ratio is 100.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDT. Mizuho increased their price objective on Medtronic from $95.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a research note on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research report on Friday. Wells Fargo & Company boosted their target price on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Oppenheimer upped their target price on Medtronic from $89.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $94.45.

Insider Activity

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business’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 sale, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by company 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.