Medtronic plc (NYSE:MDT) Receives $95.36 Consensus PT from Brokerages

Medtronic plc (NYSE:MDT) has been given an average rating of “Hold” by the sixteen research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $95.36.

MDT has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Barclays lifted their target price on Medtronic from $104.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Citigroup upped their price target on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Oppenheimer lifted their price objective on shares of Medtronic from $92.00 to $94.00 and gave the company a “market perform” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company upped their target price on shares of Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st.

Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lynx Investment Advisory purchased a new stake in shares of Medtronic in the second quarter valued at $28,000. Tributary Capital Management LLC bought a new position in Medtronic during the 1st quarter valued at about $33,000. Riverview Trust Co purchased a new stake in Medtronic in the 1st quarter worth about $39,000. Gleason Group Inc. bought a new stake in Medtronic in the second quarter worth about $42,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Medtronic during the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of MDT opened at $91.05 on Tuesday. Medtronic has a 52 week low of $68.84 and a 52 week high of $92.25. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $116.75 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.53 and a beta of 0.84. The business has a 50-day simple moving average of $88.65 and a two-hundred day simple moving average of $83.63.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. The company had revenue of $7.97 billion for 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%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, analysts expect that Medtronic will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is 101.82%.

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.