Analysts Set Medtronic plc (NYSE:MDT) PT at $95.00

Shares of Medtronic plc (NYSE:MDT) have earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $95.00.

A number of equities analysts recently weighed in on MDT shares. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Evercore ISI lifted their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $98.00 to $105.00 in a research report on Thursday, October 10th. Wells Fargo & Company lowered their target price on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Truist Financial dropped their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th.

Medtronic Trading Up 0.3 %

NYSE MDT opened at $79.88 on Friday. The firm has a market capitalization of $102.43 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82. The business’s 50-day moving average price is $85.54 and its two-hundred day moving average price is $84.92. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Medtronic has a 12 month low of $75.96 and a 12 month high of $92.68.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that Medtronic will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.51%. Medtronic’s dividend payout ratio is presently 85.63%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MDT. State Street Corp lifted its stake in Medtronic by 0.9% during the 3rd quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock valued at $5,509,155,000 after acquiring an additional 520,027 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Medtronic by 3.3% during the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company’s stock valued at $772,727,000 after purchasing an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Medtronic by 436.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company’s stock valued at $661,125,000 after purchasing an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Medtronic by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company’s stock worth $560,494,000 after purchasing an additional 515,751 shares during the last quarter. Finally, Raymond James & Associates grew its position in Medtronic by 2.3% in the 3rd quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company’s stock worth $575,460,000 after purchasing an additional 145,504 shares in the last quarter. Institutional investors own 82.06% 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.