Medtronic plc (NYSE:MDT) Receives $95.36 Average PT from Analysts

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

MDT has been the topic of several research reports. Evercore ISI upped their price target on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Piper Sandler increased their target price on Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their price objective on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Truist Financial boosted their price objective on shares of Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Monday. Finally, Citigroup upped their price target on shares of Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st.

Hedge Funds Weigh In On Medtronic

Large investors have recently made changes to their positions in the business. Lynx Investment Advisory bought a new stake in Medtronic in the 2nd quarter valued at $28,000. Tributary Capital Management LLC acquired a new stake in Medtronic in the 1st quarter valued at $33,000. Riverview Trust Co bought a new position in shares of Medtronic during the first quarter valued at $39,000. Gleason Group Inc. bought a new stake in shares of Medtronic in the 2nd quarter worth about $42,000. Finally, Opal Wealth Advisors LLC acquired a new position in Medtronic in the second quarter valued at about $43,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Medtronic Stock Down 0.2 %

Shares of MDT stock opened at $89.78 on Tuesday. Medtronic has a 1 year low of $68.84 and a 1 year high of $91.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13. The business’s fifty day moving average is $88.25 and its 200-day moving average is $83.56. The stock has a market cap of $115.12 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

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

Medtronic Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic’s dividend payout ratio is 101.82%.

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.