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Medtronic (MDT) Stock Price, News & Analysis

Medtronic logo
$87.59 +0.06 (+0.07%)
(As of 04:22 PM ET)

About Medtronic Stock (NYSE:MDT)

Key Stats

Today's Range
$87.00
$88.72
50-Day Range
$85.97
$92.27
52-Week Range
$74.66
$92.68
Volume
9.03 million shs
Average Volume
6.24 million shs
Market Capitalization
$112.33 billion
P/E Ratio
29.59
Dividend Yield
3.20%
Price Target
$95.80
Consensus Rating
Hold

Company Overview

Medtronic PLC is a world-leading medical technology company that develops and manufactures device-based medical therapies to improve patient outcomes. Founded in 1949 in Minneapolis, Minnesota, Medtronic has grown to become one of the largest medical device companies in the world. The company's operational and executive headquarters are in Dublin, Ireland, with over 90,000 employees in more than 150 countries.

Medtronic's portfolio of medical technologies includes products for diagnosing, treating and managing cardiac rhythm disorders and cardiovascular disease, spinal and biologics, diabetes management and neuromodulation. The company's cardiac and vascular group is the oldest and largest business unit, which develops pacemakers, defibrillators and heart valves. Medtronic's spinal and biologics business is the second-largest business unit and produces a range of implants, instruments and services to treat spinal disorders. The diabetes group develops insulin pumps, continuous glucose monitoring systems and consumables. At the same time, the neuromodulation business focuses on therapies to treat chronic pain, movement disorders and other neurological conditions.

In 2015, Medtronic acquired Covidien PLC, an Irish-based medical technology company, and moved its legal headquarters to Ireland. This transaction was the most significant U.S. corporate tax inversion in history and allowed the company to take advantage of lower corporate taxes in Ireland. The company also achieved a 100% gender and ethnically diverse pay equity in the U.S. and 99% gender pay equity globally, as reported in its Global Inclusion, Diversity and Equity 2022 annual report. Medtronic joined the Bloomberg Gender-Equality Index (GEI) in 2023, becoming one of the 483 companies listed in the index. 

Medtronic's stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol MDT and is a member of the S&P 500 and the Dow Jones Industrial Average (DJIA). The company has had several recent recalls, including the HeartWare Ventricular Assist Device in February 2021 and the controller ports in June 2021. 

Medtronic has continued to focus on developing its medical technology portfolio and announced several acquisitions and partnerships in 2021. In January, the company announced its intention to acquire Affera, Inc., Stimgenics LLC and Medicrea. In May, Medtronic announced a strategic partnership with CathWorks, and in March 2022, a contract with Vizient. The company is also working with GE Healthcare to support the needs and care demands at Ambulatory Surgery Centers in April 2022. In October 2022, Medtronic announced its intention to pursue a separation of the company's combined patient monitoring and respiratory interventions businesses. 

Medtronic PLC is a world-leading medical technology company that has grown to become one of the largest medical device companies in the world. With its portfolio of medical technologies and recent acquisitions and partnerships, the company is well-positioned to capitalize on the growth of the medical device industry. The company's commitment to gender and ethnic pay equity and inclusion and its strategic partnerships and acquisitions make Medtronic PLC an attractive option for investors looking for a long-term growth opportunity.

Medtronic Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
97th Percentile Overall Score

MDT MarketRank™: 

Medtronic scored higher than 97% of companies evaluated by MarketBeat, and ranked 48th out of 965 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • Consensus Rating

    Medtronic has received a consensus rating of Hold. The company's average rating score is 2.41, and is based on 6 buy ratings, 9 hold ratings, and 1 sell rating.

  • Amount of Analyst Coverage

    Medtronic has been the subject of 13 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

  • Read more about Medtronic's stock forecast and price target.
  • Earnings Growth

    Earnings for Medtronic are expected to grow by 7.17% in the coming year, from $5.44 to $5.83 per share.

  • Price to Earnings Ratio vs. the Market

    The P/E ratio of Medtronic is 29.84, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 130.82.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Medtronic is 29.84, which means that it is trading at a less expensive P/E ratio than the Medical sector average P/E ratio of about 122.76.

  • Price to Earnings Growth Ratio

    Medtronic has a PEG Ratio of 2.50. PEG Ratios above 1 indicate that a company could be overvalued.

  • Price to Book Value per Share Ratio

    Medtronic has a P/B Ratio of 2.33. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

  • Read more about Medtronic's valuation and earnings.
  • Percentage of Shares Shorted

    0.80% of the float of Medtronic has been sold short.
  • Short Interest Ratio / Days to Cover

    Medtronic has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Medtronic has recently decreased by 5.48%, indicating that investor sentiment is improving significantly.
  • Dividend Yield

    Medtronic pays a meaningful dividend of 3.20%, higher than the bottom 25% of all stocks that pay dividends.

  • Dividend Growth

    Medtronic has been increasing its dividend for 48 years.

  • Dividend Coverage

    The dividend payout ratio of Medtronic is 94.59%. Payout ratios above 75% are not desirable because they may not be sustainable.

  • Dividend Sustainability

    Based on earnings estimates, Medtronic will have a dividend payout ratio of 48.03% next year. This indicates that Medtronic will be able to sustain or increase its dividend.

  • Read more about Medtronic's dividend.
  • Percentage of Shares Shorted

    0.80% of the float of Medtronic has been sold short.
  • Short Interest Ratio / Days to Cover

    Medtronic has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
  • Change versus previous month

    Short interest in Medtronic has recently decreased by 5.48%, indicating that investor sentiment is improving significantly.
  • News Sentiment

    Medtronic has a news sentiment score of 1.03. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.57 average news sentiment score of Medical companies.
  • News Coverage This Week

    MarketBeat has tracked 55 news articles for Medtronic this week, compared to 19 articles on an average week.
  • Search Interest

    Only 35 people have searched for MDT on MarketBeat in the last 30 days. This is a decrease of -10% compared to the previous 30 days.
  • MarketBeat Follows

    107 people have added Medtronic to their MarketBeat watchlist in the last 30 days. This is an increase of 723% compared to the previous 30 days.
  • Insider Buying vs. Insider Selling

    In the past three months, Medtronic insiders have not sold or bought any company stock.

  • Percentage Held by Insiders

    Only 0.20% of the stock of Medtronic is held by insiders.

  • Percentage Held by Institutions

    82.06% of the stock of Medtronic is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

  • Read more about Medtronic's insider trading history.
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MDT Stock News Headlines

Medtronic (MDT) Scheduled to Post Earnings on Tuesday
Medtronic (NYSE:MDT) Stock Price Up 0.6% After Analyst Upgrade
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Medtronic draws on its people to transform health care
Bank of America Securities Keeps Their Buy Rating on Medtronic (MDT)
Barclays Remains a Buy on Medtronic (MDT)
See More Headlines

MDT Stock Analysis - Frequently Asked Questions

Medtronic's stock was trading at $82.38 at the beginning of 2024. Since then, MDT shares have increased by 7.2% and is now trading at $88.32.
View the best growth stocks for 2024 here
.

Medtronic plc (NYSE:MDT) announced its quarterly earnings results on Tuesday, August, 20th. The medical technology company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.20 by $0.03. The firm's quarterly revenue was up 3.4% compared to the same quarter last year.
Read the conference call transcript
.

Top institutional investors of Medtronic include State Street Corp (4.74%), Geode Capital Management LLC (2.06%), Massachusetts Financial Services Co. MA (1.90%) and Wellington Management Group LLP (1.43%). Insiders that own company stock include Geoffrey Martha, Sean Salmon, Gregory L Smith, Hoedt Rob Ten, Brett A Wall, Michael Marinaro, Karen L Parkhill, Carol A Surface, Robert John White and Richard H Anderson.
View institutional ownership trends
.

Shares of MDT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Based on aggregate information from My MarketBeat watchlists, some other companies that Medtronic investors own include JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), Symbotic (SYM), Meta Platforms (META), NVIDIA (NVDA), Chevron (CVX), Verizon Communications (VZ) and Broadcom (AVGO).

Company Calendar

Last Earnings
8/20/2024
Ex-Dividend for 10/11 Dividend
9/27/2024
Dividend Payable
10/11/2024
Today
11/18/2024
Next Earnings (Confirmed)
11/19/2024
Fiscal Year End
4/30/2025

Industry, Sector and Symbol

Sector
Medical
Industry
Electromedical equipment
Sub-Industry
Health Care Equipment
CUSIP
58505510
Employees
95,000
Year Founded
1949

Price Target and Rating

Average Stock Price Target
$95.80
High Stock Price Target
$106.00
Low Stock Price Target
$83.00
Potential Upside/Downside
+8.4%
Consensus Rating
Hold
Rating Score (0-4)
2.41
Research Coverage
17 Analysts

Profitability

Net Income
$3.68 billion
Pretax Margin
15.07%

Debt

Sales & Book Value

Annual Sales
$32.36 billion
Cash Flow
$7.28 per share
Book Value
$37.97 per share

Miscellaneous

Outstanding Shares
1,282,470,000
Free Float
1,279,902,000
Market Cap
$113.38 billion
Optionable
Optionable
Beta
0.84

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This page (NYSE:MDT) was last updated on 11/18/2024 by MarketBeat.com Staff
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