Medtronic plc (NYSE:MDT – Get Free Report) has been assigned a consensus rating of “Hold” from the sixteen analysts that are presently covering the company, Marketbeat Ratings 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 given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $95.36.
Several analysts recently weighed in on MDT shares. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $98.00 to $105.00 in a research note on Thursday, October 10th. Barclays increased their target price on Medtronic from $104.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lifted their price target on Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI increased their price objective on shares of Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a report on Tuesday, August 20th.
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Hedge Funds Weigh In On Medtronic
Medtronic Stock Performance
Shares of Medtronic stock opened at $91.05 on Tuesday. Medtronic has a 12 month low of $68.84 and a 12 month high of $92.25. The firm has a market capitalization of $116.75 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.53 and a beta of 0.84. The company has a current ratio of 2.13, a quick ratio of 1.61 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $88.65 and a two-hundred day simple moving average of $83.63.
Medtronic (NYSE:MDT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to analysts’ expectations of $7.90 billion. Medtronic had a net margin of 12.06% and a return on equity of 13.68%. Medtronic’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the company posted $1.20 EPS. On average, equities 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 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.
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