Medtronic (NYSE:MDT) Issues Quarterly Earnings Results

Medtronic (NYSE:MDT) posted its earnings results on Tuesday. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01, RTT News reports. The company had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Medtronic updated its FY 2025 guidance to 5.440-5.500 EPS and its FY25 guidance to $5.44-5.50 EPS.

Medtronic Price Performance

Shares of NYSE:MDT opened at $87.64 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The company has a 50-day simple moving average of $89.42 and a 200-day simple moving average of $84.82. Medtronic has a one year low of $74.66 and a one year high of $92.68. The stock has a market capitalization of $112.39 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 2.50 and a beta of 0.84.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Oppenheimer increased their target price on shares of Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 21st. Wells Fargo & Company increased their price objective on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Truist Financial boosted their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, October 14th. Evercore ISI boosted their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.80.

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.