Analysts Set Medtronic plc (NYSE:MDT) Price Target at $96.07

Medtronic plc (NYSE:MDT) has received an average recommendation of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $96.07.

A number of research analysts have weighed in on MDT shares. Barclays raised their price objective on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Citigroup upgraded Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research note on Wednesday, December 18th. Sanford C. Bernstein upped their target price on Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th.

Insider Activity at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the transaction, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This trade represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medtronic

A number of large investors have recently modified their holdings of MDT. Vanguard Group Inc. boosted its holdings in Medtronic by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 124,203,387 shares of the medical technology company’s stock valued at $9,921,367,000 after purchasing an additional 754,395 shares during the period. State Street Corp raised its position in shares of Medtronic by 0.9% in the third quarter. State Street Corp now owns 60,731,367 shares of the medical technology company’s stock worth $5,509,155,000 after buying an additional 520,027 shares in the last quarter. Capital Research Global Investors boosted its stake in Medtronic by 1.8% during the fourth quarter. Capital Research Global Investors now owns 33,203,685 shares of the medical technology company’s stock valued at $2,652,310,000 after buying an additional 571,700 shares during the period. Geode Capital Management LLC grew its position in Medtronic by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 27,056,217 shares of the medical technology company’s stock worth $2,155,085,000 after buying an additional 574,055 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Medtronic by 2.1% in the 4th quarter. Deutsche Bank AG now owns 18,443,640 shares of the medical technology company’s stock worth $1,473,278,000 after acquiring an additional 372,168 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

Shares of MDT opened at $92.10 on Friday. Medtronic has a one year low of $75.96 and a one year high of $96.25. The company has a market cap of $118.12 billion, a PE ratio of 27.99, a P/E/G ratio of 2.22 and a beta of 0.80. The stock has a 50-day moving average of $90.12 and a 200-day moving average of $88.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. On average, equities research analysts predict that Medtronic will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, March 28th. Medtronic’s dividend payout ratio (DPR) is presently 85.11%.

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.