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

Medtronic plc (NYSE:MDT) has earned an average rating of “Hold” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $96.07.

Several research analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price objective on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. UBS Group lifted their price objective on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Robert W. Baird lifted their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently added to or reduced their stakes in MDT. Aigen Investment Management LP purchased a new stake in shares of Medtronic during the third quarter worth about $586,000. Aptus Capital Advisors LLC grew its stake in shares of Medtronic by 14.9% during the third quarter. Aptus Capital Advisors LLC now owns 11,500 shares of the medical technology company’s stock worth $1,035,000 after acquiring an additional 1,487 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Medtronic during the third quarter worth about $3,424,000. Huntington National Bank grew its stake in shares of Medtronic by 3.3% during the third quarter. Huntington National Bank now owns 124,185 shares of the medical technology company’s stock worth $11,180,000 after acquiring an additional 3,917 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Medtronic by 78.3% during the third quarter. KBC Group NV now owns 654,279 shares of the medical technology company’s stock worth $58,905,000 after acquiring an additional 287,396 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Up 0.9 %

NYSE MDT opened at $92.30 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90. The company has a market capitalization of $118.38 billion, a P/E ratio of 28.05, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic has a one year low of $75.96 and a one year high of $96.25. The stock has a 50 day moving average price of $89.36 and a 200-day moving average price of $87.94.

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

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.03%. Medtronic’s payout ratio is currently 85.11%.

About Medtronic

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.