Medtronic PLC (NYSE:MDT) has been assigned a consensus recommendation of “Buy” from the thirty-one ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, twenty-one have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $114.53.
MDT has been the subject of several recent research reports. Oppenheimer reduced their price target on Medtronic from $131.00 to $112.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Piper Sandler reduced their price target on Medtronic from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Needham & Company LLC restated a “buy” rating and issued a $113.00 price target on shares of Medtronic in a research note on Thursday, May 21st. SVB Leerink boosted their price target on Medtronic from $100.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Finally, Cfra upgraded Medtronic from a “buy” rating to a “strong-buy” rating and cut their target price for the company from $127.00 to $121.00 in a research report on Thursday, May 21st.
Shares of MDT stock traded up $1.44 during trading on Tuesday, reaching $91.70. 5,463,474 shares of the company’s stock were exchanged, compared to its average volume of 6,622,945. The company has a quick ratio of 1.72, a current ratio of 2.13 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $123.00 billion, a PE ratio of 25.83, a PEG ratio of 3.27 and a beta of 0.68. Medtronic has a twelve month low of $72.13 and a twelve month high of $122.15. The firm’s fifty day moving average price is $95.26 and its 200-day moving average price is $102.85.
Medtronic (NYSE:MDT) last posted its earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.70). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.10 billion. Medtronic had a return on equity of 12.17% and a net margin of 16.56%. The firm’s revenue was down 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 earnings per share. As a group, analysts anticipate that Medtronic will post 3.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 25th. This is a boost from Medtronic’s previous quarterly dividend of $0.54. Medtronic’s dividend payout ratio is presently 50.54%.
In other Medtronic news, SVP Carol A. Surface sold 2,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $97.72, for a total value of $195,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.28% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MDT. S.E.E.D. Planning Group LLC acquired a new position in Medtronic in the 4th quarter worth about $390,000. Victory Capital Management Inc. increased its stake in shares of Medtronic by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 621,827 shares of the medical technology company’s stock valued at $70,546,000 after buying an additional 49,917 shares during the period. Cetera Advisors LLC increased its stake in shares of Medtronic by 3.3% in the fourth quarter. Cetera Advisors LLC now owns 9,917 shares of the medical technology company’s stock valued at $1,123,000 after buying an additional 319 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Medtronic in the fourth quarter valued at about $1,826,000. Finally, Princeton Global Asset Management LLC increased its stake in shares of Medtronic by 31.1% in the fourth quarter. Princeton Global Asset Management LLC now owns 18,510 shares of the medical technology company’s stock valued at $2,100,000 after buying an additional 4,387 shares during the period. 81.14% of the stock is owned by institutional investors and hedge funds.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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