Medtronic plc (NYSE:MDT) Given Average Recommendation of “Hold” by Brokerages

Shares of Medtronic plc (NYSE:MDT) have been given a consensus recommendation of “Hold” by the sixteen research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $95.36.

A number of research firms have recently issued reports on MDT. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Oppenheimer lifted their target price on Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Friday, October 25th. Robert W. Baird boosted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Daiwa America raised Medtronic to a “strong-buy” rating in a report on Friday, August 23rd.

Medtronic Trading Down 0.5 %

Shares of MDT opened at $87.72 on Friday. The stock’s fifty day simple moving average is $89.68 and its 200-day simple moving average is $84.46. The firm has a market capitalization of $112.50 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84. Medtronic has a 12-month low of $69.32 and a 12-month high of $92.68. The company has a quick ratio of 1.61, a current ratio of 2.13 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.20 earnings per share. As a group, research analysts predict that Medtronic will post 5.44 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders 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 yield of 3.19%. Medtronic’s dividend payout ratio is currently 94.59%.

Institutional Trading of Medtronic

Institutional investors have recently added to or reduced their stakes in the company. M&G Plc bought a new stake in shares of Medtronic in the first quarter valued at about $259,160,000. Capital Research Global Investors grew its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock worth $2,691,577,000 after purchasing an additional 2,044,109 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Medtronic by 1,195.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,837,600 shares of the medical technology company’s stock worth $144,637,000 after purchasing an additional 1,695,800 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Medtronic by 8,908.6% during the third quarter. International Assets Investment Management LLC now owns 1,298,415 shares of the medical technology company’s stock worth $116,896,000 after purchasing an additional 1,284,002 shares during the period. Finally, Troy Asset Management Ltd acquired a new stake in shares of Medtronic in the second quarter valued at approximately $85,440,000. 82.06% of the stock is currently owned by 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.