Medtronic (NYSE:MDT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Medtronic Trading Up 1.1 %

Shares of NYSE:MDT opened at $82.28 on Friday. The firm has a market capitalization of $109.25 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The company has a quick ratio of 1.71, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Medtronic has a 12-month low of $68.84 and a 12-month high of $91.00. The firm has a fifty day moving average of $82.81 and a two-hundred day moving average of $82.68.

Medtronic Increases Dividend

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

Analyst Upgrades and Downgrades

MDT has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Medtronic in a research report on Friday. Oppenheimer upped their target price on shares of Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Friday. UBS Group raised their target price on Medtronic from $75.00 to $76.00 and gave the company a “sell” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.45.

Insider Buying and Selling

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