Medtronic plc (NYSE:MDT) Given Consensus Rating of “Hold” by Analysts

Medtronic plc (NYSE:MDT) has received an average rating of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $95.36.

Several research analysts have recently issued reports on the company. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial raised their price target on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Robert W. Baird lifted their price target on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. UBS Group upgraded Medtronic from a “sell” rating to a “neutral” rating and increased their price objective for the company from $76.00 to $90.00 in a report on Thursday, August 15th. Finally, Barclays raised their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Syon Capital LLC purchased a new position in Medtronic in the fourth quarter worth $562,000. SageView Advisory Group LLC grew its position in Medtronic by 59.3% during the fourth quarter. SageView Advisory Group LLC now owns 7,306 shares of the medical technology company’s stock valued at $635,000 after buying an additional 2,721 shares during the period. HighPoint Advisor Group LLC purchased a new stake in Medtronic during the fourth quarter worth about $1,040,000. Confluence Investment Management LLC bought a new stake in Medtronic in the first quarter worth about $18,214,000. Finally, Park National Corp OH boosted its stake in Medtronic by 6.4% in the first quarter. Park National Corp OH now owns 3,617 shares of the medical technology company’s stock valued at $315,000 after acquiring an additional 216 shares during the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Medtronic Trading Up 2.7 %

Shares of Medtronic stock opened at $92.24 on Tuesday. The firm’s 50 day moving average is $88.45 and its 200 day moving average is $83.59. The firm has a market capitalization of $118.28 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic has a 1 year low of $68.84 and a 1 year high of $92.25. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. The firm had revenue of $7.97 billion for the quarter, compared to analysts’ expectations of $7.90 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Medtronic will post 5.44 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.04%. Medtronic’s dividend payout ratio is currently 101.82%.

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.