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

Shares of Medtronic plc (NYSE:MDT) have been assigned an average recommendation of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $95.00.

Several research firms have commented on MDT. Robert W. Baird dropped 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. Evercore ISI increased their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Truist Financial reduced their price objective on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Citigroup boosted their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st.

Hedge Funds Weigh In On Medtronic

Large investors have recently made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in shares of Medtronic during the third quarter worth about $27,000. Darwin Wealth Management LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Medtronic during the 3rd quarter worth approximately $27,000. J. Stern & Co. LLP purchased a new position in shares of Medtronic in the third quarter worth $30,000. Finally, Chelsea Counsel Co. purchased a new position in shares of Medtronic in the third quarter worth $45,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic Price Performance

Shares of Medtronic stock opened at $80.74 on Friday. The stock has a market cap of $103.53 billion, a P/E ratio of 24.69, a P/E/G ratio of 2.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.39 and a current ratio of 1.84. The stock’s fifty day moving average is $86.00 and its 200 day moving average is $84.92. Medtronic has a one year low of $75.96 and a one year high of $92.68.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Sell-side analysts anticipate that Medtronic will post 5.45 earnings per share for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

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.