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

Shares of Medtronic plc (NYSE:MDT) have received a consensus rating of “Hold” from the seventeen research firms that are 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 issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $95.00.

A number of research firms have recently weighed in on MDT. Truist Financial cut their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Sanford C. Bernstein raised their price target on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Robert W. Baird reduced their price objective on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th. Finally, Barclays raised their target price on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th.

Medtronic Price Performance

Shares of MDT stock opened at $87.84 on Thursday. Medtronic has a twelve month low of $75.96 and a twelve month high of $92.68. The company has a market capitalization of $112.64 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 2.49 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $83.64 and a 200-day simple moving average of $85.37.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share 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 company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Medtronic will post 5.45 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, December 27th. Medtronic’s dividend payout ratio is presently 85.63%.

Insider Activity

In other Medtronic news, EVP Brett A. Wall sold 9,850 shares of Medtronic stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $80.41, for a total transaction of $792,038.50. Following the completion of the sale, the executive vice president now owns 40,708 shares of the company’s stock, valued at $3,273,330.28. This trade represents a 19.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new stake in Medtronic in the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Medtronic in the third quarter worth $27,000. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter worth $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter valued at $30,000. Finally, Kieckhefer Group LLC bought a new stake in Medtronic in the 4th quarter valued at $40,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.