Shares of Medtronic plc (NYSE:MDT – Get Free Report) have earned a consensus recommendation of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $96.07.
MDT has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Truist Financial dropped their target price on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird increased their target price on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th.
Read Our Latest Analysis on Medtronic
Insider Activity
Hedge Funds Weigh In On Medtronic
Institutional investors and hedge funds have recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in Medtronic during the third quarter worth $27,000. Mainstream Capital Management LLC bought a new position in Medtronic during the fourth quarter worth $26,000. J. Stern & Co. LLP bought a new position in Medtronic during the third quarter worth $30,000. Rakuten Securities Inc. lifted its stake in Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Finally, Wood Tarver Financial Group LLC bought a new position in Medtronic during the fourth quarter worth $27,000. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
Medtronic Price Performance
NYSE:MDT opened at $93.18 on Friday. The firm has a market cap of $119.51 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. 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 company’s 50-day moving average is $89.61 and its two-hundred day moving average is $87.95. Medtronic has a 12-month low of $75.96 and a 12-month high of $96.25.
Medtronic (NYSE:MDT – Get Free Report) last released its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. Research analysts expect that Medtronic will post 5.46 EPS for the current year.
Medtronic Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) 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.
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