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

Medtronic plc (NYSE:MDTGet Free Report) 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.

Read Our Latest Research Report on MDT

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:MDTGet Free Report) 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

(Get Free Report

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.

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Analyst Recommendations for Medtronic (NYSE:MDT)

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