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Medtronic PLC MDT Stock Quote

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NYSE: MDT

Morningstar‘s Stock Analysis MDT

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Medtronic Posts Disappointing Fiscal Second Quarter; Lowering Our Fair Value Estimate

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie Wang |

Medtronic delivered disappointing fiscal second-quarter results, and we’re lowering our fair value estimate to $112 per share, down from $122, after adjusting our full-year and fiscal 2024 estimates downward. In the second quarter, the firm faced challenges that have dragged down growth, some of which were specific to the firm and others that have affected the entire industry. In the former bucket, Medtronic struggled with supply shortages in surgical innovations, delayed U.S. regulatory approval of the 780g insulin pump, and battery replacement headwinds in neuromodulation. In the latter bucket, unfavorable foreign exchange rate changes, higher input costs, hospital staffing issues that have pulled down procedure volume, and China’s volume based procurement, or VBP, program have also put pressure on Medtronic. Considering these issues are unlikely to resolve themselves within the next few quarters, we’ve pulled back our projections for fiscal 2023-24. Despite these short-term hurdles, we think Medtronic’s wide economic moat remains intact, as its intangible assets and switching costs have not weakened, in our view.

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Key Statistics MDT

Company Profile MDT

Business Description

One of the largest medical device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for almost 50% of the company's total sales.

Contact
Lower Hatch Street, 20 On Hatch
Dublin, 2, IRL
Industry Medical Devices
Employees 95,000

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FAQs for Medtronic PLC Stock

Yes. MDT has a forward dividend yield of 3.53%. See MDT’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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MDT’s market cap is 102.53 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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MDT’s stock style is Large Core.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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MDT’s price/sales is 3.35.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

MDT’s price/forward earnings is 14.56.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

MDT’s price/book is 1.98.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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MDT’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare MDT’s historical performance against its industry peers and the overall market.