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

Shares of Medtronic plc (NYSE:MDT) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $96.07.

A number of research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Truist Financial reduced their target price on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Finally, UBS Group boosted their target price on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th.

Medtronic Stock Down 1.3 %

Shares of MDT opened at $92.10 on Friday. The stock has a market capitalization of $118.12 billion, a PE ratio of 27.99, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic has a 12 month low of $75.96 and a 12 month high of $96.25. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $90.12 and its 200-day moving average is $88.02.

Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. Equities research analysts forecast that Medtronic will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.04%. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

Insider Transactions at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Medtronic

A number of institutional investors have recently bought and sold shares of MDT. 111 Capital acquired a new position in shares of Medtronic in the 4th quarter valued at about $919,000. Wealth Enhancement Advisory Services LLC increased its holdings in Medtronic by 32.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 477,719 shares of the medical technology company’s stock worth $38,160,000 after purchasing an additional 116,310 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in Medtronic in the fourth quarter valued at approximately $2,599,000. Capstone Triton Financial Group LLC boosted its holdings in shares of Medtronic by 2.2% during the 4th quarter. Capstone Triton Financial Group LLC now owns 10,009 shares of the medical technology company’s stock worth $800,000 after buying an additional 213 shares in the last quarter. Finally, Mattson Financial Services LLC grew its position in shares of Medtronic by 6.3% during the 4th quarter. Mattson Financial Services LLC now owns 42,159 shares of the medical technology company’s stock worth $3,368,000 after buying an additional 2,489 shares during the period. 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.