Medtronic plc (NYSE:MDT) Receives Average Rating of “Hold” from Brokerages

Shares of Medtronic plc (NYSE:MDT) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $95.00.

MDT has been the subject of several research reports. Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research report on Wednesday, February 19th. Wells Fargo & Company lowered their price target on shares of Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Truist Financial lowered their price target on shares of Medtronic from $93.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, December 18th. Robert W. Baird lifted their price target on shares of Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, UBS Group lifted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th.

Medtronic Trading Up 2.3 %

MDT opened at $89.95 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $115.34 billion, a PE ratio of 27.34, a PEG ratio of 2.22 and a beta of 0.84. Medtronic has a 1-year low of $75.96 and a 1-year high of $93.08. The firm has a 50-day moving average price of $86.08 and a two-hundred day moving average price of $87.18.

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

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the transaction, the executive vice president now owns 40,979 shares of the company’s stock, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MDT. Good Life Advisors LLC lifted its stake in Medtronic by 7.7% in the third quarter. Good Life Advisors LLC now owns 3,870 shares of the medical technology company’s stock valued at $348,000 after buying an additional 276 shares in the last quarter. Stratos Wealth Advisors LLC lifted its position in shares of Medtronic by 58.2% in the third quarter. Stratos Wealth Advisors LLC now owns 12,406 shares of the medical technology company’s stock worth $1,117,000 after purchasing an additional 4,565 shares in the last quarter. Net Worth Advisory Group bought a new stake in shares of Medtronic in the third quarter worth $671,000. KMG Fiduciary Partners LLC lifted its position in shares of Medtronic by 4.1% in the third quarter. KMG Fiduciary Partners LLC now owns 18,609 shares of the medical technology company’s stock worth $1,675,000 after purchasing an additional 741 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Medtronic by 30.6% in the third quarter. Blue Trust Inc. now owns 12,716 shares of the medical technology company’s stock worth $1,145,000 after purchasing an additional 2,979 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

About Medtronic

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.