Medtronic (NYSE:MDT) Updates FY25 Earnings Guidance

Medtronic (NYSE:MDT) updated its FY25 earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDT. Mizuho upped their price target on shares of Medtronic from $95.00 to $98.00 and gave the company a buy rating in a report on Wednesday, February 21st. UBS Group boosted their price objective on Medtronic from $75.00 to $76.00 and gave the stock a sell rating in a report on Friday. Oppenheimer boosted their price objective on Medtronic from $89.00 to $92.00 and gave the stock a market perform 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 report on Wednesday, February 21st. Finally, Needham & Company LLC restated a hold rating on shares of Medtronic in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Medtronic has a consensus rating of Hold and an average price target of $94.18.

Medtronic Stock Performance

Shares of MDT traded up $0.36 during mid-day trading on Friday, hitting $81.74. The company’s stock had a trading volume of 613,220 shares, compared to its average volume of 6,102,518. Medtronic has a one year low of $68.84 and a one year high of $91.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.71 and a current ratio of 2.30. The firm has a market capitalization of $108.54 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 2.79 and a beta of 0.78. The stock’s 50-day moving average is $82.84 and its two-hundred day moving average is $82.62.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.01. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The company had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. During the same period in the prior year, the business earned $1.57 earnings per share. Medtronic’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Medtronic will post 5.2 EPS for the current year.

Medtronic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. This is a positive change from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio is presently 87.90%.

Insider Activity at Medtronic

In related news, EVP Michael Marinaro sold 854 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Medtronic Company Profile

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.