Medtronic plc (NYSE:MDT) Receives $92.92 Average PT from Analysts

Medtronic plc (NYSE:MDT) has earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $92.92.

A number of research analysts have recently commented on the stock. Barclays lifted their price objective on shares of Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Medtronic from $105.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer boosted their target price on Medtronic from $92.00 to $94.00 and gave the stock a “market perform” rating in a report on Wednesday, August 21st. Finally, Truist Financial increased their price target on Medtronic from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Friday, August 23rd.

Medtronic Stock Performance

MDT opened at $89.45 on Friday. 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 50-day simple moving average is $85.42 and its 200 day simple moving average is $83.07. The firm has a market capitalization of $114.70 billion, a PE ratio of 32.53, a PEG ratio of 2.56 and a beta of 0.84. Medtronic has a 52-week low of $68.84 and a 52-week high of $91.49.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, sell-side analysts expect that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Friday, September 27th. Medtronic’s dividend payout ratio is currently 101.82%.

Institutional Investors Weigh In On Medtronic

Several institutional investors have recently made changes to their positions in the stock. LifeSteps Financial Inc. bought a new position in shares of Medtronic in the first quarter worth $27,000. Lynx Investment Advisory bought a new position in Medtronic in the 2nd quarter valued at about $28,000. Tributary Capital Management LLC acquired a new position in shares of Medtronic in the 1st quarter valued at approximately $33,000. Fortis Group Advisors LLC lifted its holdings in shares of Medtronic by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 460 shares of the medical technology company’s stock worth $38,000 after acquiring an additional 230 shares during the period. Finally, Riverview Trust Co acquired a new stake in shares of Medtronic during the 1st quarter worth approximately $39,000. 82.06% of the stock is currently owned by institutional investors.

Medtronic Company Profile

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.