Medtronic (NYSE:MDT) Rating Increased to Hold at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Medtronic (NYSE:MDT) to a hold rating in a research report report published on Thursday morning, Marketbeat.com reports. The Goldman Sachs Group currently has $84.00 target price on the medical technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Medtronic from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Stifel Nicolaus cut their target price on shares of Medtronic from $105.00 to $95.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Jefferies Financial Group restated a “hold” rating and issued a $95.00 target price on shares of Medtronic in a report on Thursday, April 23rd. Daiwa Securities Group cut their target price on shares of Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Robert W. Baird raised their price target on Medtronic from $92.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.45.

Medtronic Stock Up 0.7%

Shares of Medtronic stock opened at $78.66 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.87 and a current ratio of 2.54. Medtronic has a 52-week low of $74.40 and a 52-week high of $106.33. The stock has a market capitalization of $100.99 billion, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.86 and a beta of 0.62. The company’s 50 day moving average price is $83.50 and its 200-day moving average price is $93.15.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Medtronic had a net margin of 13.00% and a return on equity of 14.82%. The firm had revenue of $9.02 billion for the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter last year, the business earned $1.38 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Medtronic will post 5.56 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 17th. Stockholders of record on Friday, March 27th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s payout ratio is currently 79.11%.

Institutional Investors Weigh In On Medtronic

Large investors have recently bought and sold shares of the business. Lodestone Wealth Management LLC bought a new stake in Medtronic in the 4th quarter worth about $27,000. Anfield Capital Management LLC grew its stake in shares of Medtronic by 410.7% during the 4th quarter. Anfield Capital Management LLC now owns 286 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 230 shares during the period. Monetary Solutions Ltd bought a new position in shares of Medtronic during the 4th quarter valued at approximately $27,000. Valley Wealth Managers Inc. bought a new position in shares of Medtronic during the 3rd quarter valued at approximately $29,000. Finally, Board of the Pension Protection Fund bought a new position in shares of Medtronic during the 4th quarter valued at approximately $29,000. 82.06% of the stock is currently owned by institutional investors.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).