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

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

Several analysts recently weighed in on the company. Evercore ISI upped their price objective on Medtronic from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Citigroup increased their target price on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Barclays lifted their price target on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised shares of Medtronic from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $98.00 to $105.00 in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Friday, October 25th.

Institutional Investors Weigh In On Medtronic

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its stake in shares of Medtronic by 73.0% in the 1st quarter. GSA Capital Partners LLP now owns 4,945 shares of the medical technology company’s stock valued at $431,000 after purchasing an additional 2,086 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Medtronic during the 1st quarter worth about $904,000. Empowered Funds LLC raised its position in shares of Medtronic by 174.9% in the 1st quarter. Empowered Funds LLC now owns 74,903 shares of the medical technology company’s stock worth $6,528,000 after acquiring an additional 47,657 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Medtronic by 39.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,869 shares of the medical technology company’s stock valued at $686,000 after purchasing an additional 2,211 shares during the period. Finally, 49 Wealth Management LLC boosted its position in shares of Medtronic by 3.1% during the 1st quarter. 49 Wealth Management LLC now owns 5,309 shares of the medical technology company’s stock valued at $462,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Trading Down 0.5 %

Shares of Medtronic stock opened at $87.72 on Friday. 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 has a 12-month low of $69.32 and a 12-month high of $92.68. The company has a market capitalization of $112.50 billion, a price-to-earnings ratio of 29.64, a PEG ratio of 2.58 and a beta of 0.84. The firm’s 50-day moving average price is $89.68 and its two-hundred day moving average price is $84.46.

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

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, September 27th. Medtronic’s payout ratio is presently 94.59%.

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.