Medtronic plc (NYSE:MDT) Receives Consensus Recommendation of “Hold” from Analysts

Medtronic plc (NYSE:MDT) has received a consensus rating of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $92.92.

A number of brokerages recently commented on MDT. UBS Group upgraded shares of Medtronic from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Daiwa America raised shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Truist Financial increased their price target on shares of Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Citigroup lowered their price objective on shares of Medtronic from $90.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd.

Medtronic Stock Up 1.5 %

Shares of NYSE:MDT opened at $89.47 on Friday. The firm has a market capitalization of $114.72 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. Medtronic has a 52-week low of $68.84 and a 52-week high of $91.49. The firm has a fifty day moving average of $84.55 and a 200 day moving average of $82.96.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.20 EPS. As a group, research analysts anticipate that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.80 annualized dividend and a yield of 3.13%. Medtronic’s payout ratio is 101.82%.

Institutional Trading of Medtronic

Hedge funds and other institutional investors have recently modified their holdings of the business. LifeSteps Financial Inc. bought a new position in Medtronic during the 1st quarter valued at approximately $27,000. Lynx Investment Advisory purchased a new position in shares of Medtronic in the 2nd quarter worth about $28,000. Tributary Capital Management LLC bought a new position in Medtronic in the 1st quarter worth about $33,000. Fortis Group Advisors LLC grew its position in Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock valued at $38,000 after purchasing an additional 230 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in Medtronic during the 1st quarter valued at about $39,000. 82.06% of the stock is owned by hedge funds and other institutional investors.

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.