Medtronic plc (NYSE:MDT) Receives Average Rating of “Hold” from Brokerages

Medtronic plc (NYSE:MDT) has been assigned a consensus rating of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $96.07.

A number of equities analysts have recently commented on MDT shares. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Truist Financial lowered their price target on Medtronic from $93.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, December 18th. Citigroup raised Medtronic from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $105.00 target price on shares of Medtronic in a report on Wednesday, February 19th.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Medtronic in the 4th quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new position in shares of Medtronic during the third quarter valued at $27,000. Stephens Consulting LLC lifted its holdings in shares of Medtronic by 145.7% during the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 204 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 294 shares in the last quarter. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Down 0.8 %

Shares of NYSE:MDT opened at $91.15 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $116.91 billion, a PE ratio of 27.71, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a fifty day moving average price of $90.47 and a 200 day moving average price of $88.06.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) 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 company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.33 billion. Analysts expect that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 dividend on an annualized basis and a yield of 3.07%. Medtronic’s dividend payout ratio is currently 85.11%.

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.