Medtronic plc (NYSE:MDT) Receives Consensus Rating of “Hold” from Analysts

Medtronic plc (NYSE:MDT) has been given an average recommendation of “Hold” by the eleven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $94.91.

A number of research analysts have issued reports on MDT shares. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, February 21st. Truist Financial lifted their price objective on Medtronic from $87.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. Mizuho lifted their price objective on Medtronic from $95.00 to $98.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $92.00 price objective on shares of Medtronic in a report on Wednesday, February 21st.

Medtronic Stock Up 1.4 %

Shares of MDT stock opened at $80.56 on Tuesday. The stock has a market cap of $106.97 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. Medtronic has a one year low of $68.84 and a one year high of $92.02. The stock has a fifty day moving average price of $83.84 and a 200 day moving average price of $81.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. Medtronic’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.30 earnings per share. Analysts predict that Medtronic will post 5.2 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, March 21st. Medtronic’s dividend payout ratio (DPR) is currently 87.90%.

Insiders Place Their Bets

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at $2,321,684.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares in the company, valued at approximately $2,321,684.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sean Salmon sold 30,695 shares of Medtronic stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total value of $2,613,065.35. Following the transaction, the executive vice president now owns 48,289 shares in the company, valued at approximately $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Medtronic

Several institutional investors have recently bought and sold shares of MDT. Norges Bank bought a new stake in Medtronic in the 4th quarter valued at approximately $1,229,726,000. First Eagle Investment Management LLC increased its position in shares of Medtronic by 54.5% during the 4th quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company’s stock worth $775,169,000 after purchasing an additional 3,320,800 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Medtronic by 112.8% during the 3rd quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company’s stock worth $449,048,000 after purchasing an additional 3,037,394 shares during the last quarter. Morgan Stanley increased its position in shares of Medtronic by 9.2% during the 3rd quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company’s stock worth $1,863,229,000 after purchasing an additional 1,994,123 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Medtronic by 145.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company’s stock worth $195,431,000 after purchasing an additional 1,405,978 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

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.