Analysts Set Medtronic plc (NYSE:MDT) Target Price at $96.07

Medtronic plc (NYSE:MDT) has received a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings 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 assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $96.07.

A number of research analysts have recently commented on the company. Robert W. Baird raised their price target on Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and raised their price target for the company from $92.00 to $107.00 in a report on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Medtronic from $106.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Finally, Truist Financial lowered 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.

Medtronic Price Performance

Shares of NYSE MDT opened at $93.18 on Friday. Medtronic has a 1-year low of $75.96 and a 1-year high of $96.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39. The business’s fifty day moving average price is $89.61 and its two-hundred day moving average price is $87.95. The firm has a market capitalization of $119.51 billion, a PE ratio of 28.32, a P/E/G ratio of 2.22 and a beta of 0.80.

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

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.00%. Medtronic’s dividend payout ratio (DPR) is 85.11%.

Insider Activity at Medtronic

In related news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction on Friday, January 24th. The stock was 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 owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The transaction 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 hedge funds and other institutional investors have recently modified their holdings of the stock. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Medtronic during the 4th quarter worth about $2,599,000. Capstone Triton Financial Group LLC boosted its position in Medtronic by 2.2% during the 4th quarter. Capstone Triton Financial Group LLC now owns 10,009 shares of the medical technology company’s stock worth $800,000 after acquiring an additional 213 shares during the period. Mattson Financial Services LLC boosted its position in Medtronic by 6.3% during the 4th quarter. Mattson Financial Services LLC now owns 42,159 shares of the medical technology company’s stock worth $3,368,000 after acquiring an additional 2,489 shares during the period. Aegis Wealth Management LLC acquired a new stake in Medtronic during the 4th quarter worth about $268,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.