Medtronic (NYSE:MDT) Updates FY25 Earnings Guidance

Medtronic (NYSE:MDT) issued an update on its FY25 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.42-5.50 for the period, compared to the consensus earnings per share estimate of $5.44.

Medtronic Stock Up 2.5 %

Medtronic stock opened at $87.51 on Thursday. The firm has a market cap of $112.21 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.35 and a beta of 0.82. The stock has a fifty day simple moving average of $80.21 and a two-hundred day simple moving average of $82.30. Medtronic has a 12 month low of $68.84 and a 12 month high of $89.18. The company has a current ratio of 2.03, a quick ratio of 1.55 and a debt-to-equity ratio of 0.47.

Medtronic (NYSE:MDT) last issued its quarterly earnings data 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. Medtronic had a return on equity of 13.47% and a net margin of 11.36%. The company had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. Medtronic’s revenue was up 3.4% compared to the same quarter last year. Equities analysts predict that Medtronic will post 5.44 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, September 27th. Medtronic’s payout ratio is currently 101.82%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MDT shares. Oppenheimer lifted their price objective on Medtronic from $92.00 to $94.00 and gave the stock a market perform rating in a report on Wednesday. Truist Financial cut their price target on Medtronic from $88.00 to $85.00 and set a hold rating for the company in a report on Tuesday, July 16th. Wells Fargo & Company boosted their price target on Medtronic from $105.00 to $106.00 and gave the company an overweight rating in a report on Wednesday. The Goldman Sachs Group began coverage on Medtronic in a report on Thursday, May 30th. They set a sell rating and a $83.00 price target for the company. Finally, Citigroup cut their price target on Medtronic from $90.00 to $85.00 and set a neutral rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Medtronic currently has an average rating of Hold and a consensus price target of $91.50.

Insider Activity

In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the transaction, the chief executive officer now directly owns 143,348 shares in the company, valued at $12,008,261.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

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.