Medtronic (MDT) Stock Forecast, Price & News

14 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Medtronic in the last twelve months. There are currently 1 sell rating, 8 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" MDT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MDT, but not buy additional shares or sell existing shares.
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14 brokerages have issued 12 month target prices for Medtronic's shares. Their MDT share price forecasts range from $79.00 to $106.00. On average, they expect the company's share price to reach $90.72 in the next year. This suggests a possible upside of 8.7% from the stock's current price.
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Medtronic's stock was trading at $77.72 at the beginning of 2023. Since then, MDT stock has increased by 7.4% and is now trading at $83.45.
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Medtronic saw a decline in short interest during the month of July. As of July 15th, there was short interest totaling 6,620,000 shares, a decline of 7.2% from the June 30th total of 7,130,000 shares. Based on an average trading volume of 5,710,000 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.5% of the shares of the stock are short sold.
View Medtronic's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 22nd 2023.
View our MDT earnings forecast.

Medtronic will be holding an earnings conference call on Tuesday, August 22nd at 8:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Medtronic plc (NYSE:MDT) announced its quarterly earnings data on Thursday, May, 25th. The medical technology company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.56 by $0.01. The medical technology company earned $8.54 billion during the quarter, compared to the consensus estimate of $8.25 billion. Medtronic had a trailing twelve-month return on equity of 13.54% and a net margin of 12.03%. Medtronic's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share.
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Medtronic declared a quarterly dividend on Wednesday, May 24th. Shareholders of record on Friday, June 23rd will be paid a dividend of $0.69 per share on Friday, July 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, June 22nd. This is a boost from the stock's previous quarterly dividend of $0.68.
Read our dividend analysis for MDT.

ETFs with the largest weight of Medtronic (NYSE:MDT) stock in their portfolio include iShares U.S. Medical Devices ETF (IHI), Simplify Health Care ETF (PINK), American CenturyFocused Large Cap Value ETF (FLV), Leatherback Long/Short Alternative Yield ETF (LBAY), Absolute Select Value ETF (ABEQ), Cambiar Aggressive Value ETF (CAMX), WisdomTree U.S. AI Enhanced Value Fund (AIVL) and Global X Aging Population ETF (AGNG).

Medtronic (NYSE:MDT) pays an annual dividend of $2.76 per share and currently has a dividend yield of 3.31%. The company has been increasing its dividend for 47 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 97.87%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, MDT will have a dividend payout ratio of 50.74% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MDT.

Medtronic updated its FY 2024 earnings guidance on Tuesday, May, 30th. The company provided earnings per share guidance of $5.00-$5.10 for the period, compared to the consensus EPS estimate of $5.20. The company issued revenue guidance of -.

1,925 employees have rated Medtronic Chief Executive Officer Omar S. Ishrak on Glassdoor.com. Omar S. Ishrak has an approval rating of 92% among the company's employees. This puts Omar S. Ishrak in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Medtronic investors own include Johnson & Johnson (JNJ), AT&T (T), NVIDIA (NVDA), AbbVie (ABBV), Walt Disney (DIS), Cisco Systems (CSCO), Intel (INTC), CVS Health (CVS), Home Depot (HD) and Walmart (WMT).

Medtronic trades on the New York Stock Exchange (NYSE) under the ticker symbol "MDT."

Medtronic's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (8.64%), Capital Research Global Investors (2.37%), Geode Capital Management LLC (1.93%), Bank of New York Mellon Corp (1.49%), Franklin Resources Inc. (1.46%) and Northern Trust Corp (1.00%). Insiders that own company stock include Bradley E Lerman, Brett A Wall, Brett A Wall, Carol A Surface, Carol A Surface, Geoffrey Martha, Hoedt Rob Ten, John R Liddicoat, Karen L Parkhill, Karen L Parkhill, Michael Marinaro, Omar Ishrak, Richard H Anderson, Richard H Anderson, Robert John White and Sean Salmon.
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Shares of MDT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MDT stock can currently be purchased for approximately $83.45.

Medtronic (NYSE:MDT) has a market capitalization of $111.02 billion and generates $31.23 billion in revenue each year. The medical technology company earns $3.76 billion in net income (profit) each year or $2.82 on an earnings per share basis.

The company employs 95,000 workers across the globe.

Medtronic's mailing address is 20 ON HATCH LOWER HATCH STREET, DUBLIN L2, D02. The official website for the company is www.medtronic.com. The medical technology company can be reached via phone at (531) 438-1700, via email at investor.relations@medtronic.com, or via fax at 763-514-4879.