Medtronic plc (NYSE:MDT) Given Consensus Rating of “Hold” by Brokerages

Medtronic plc (NYSE:MDT) has received a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $95.00.

MDT has been the subject of a number of recent analyst reports. Sanford C. Bernstein increased their target price on shares of Medtronic from $96.00 to $97.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. Barclays raised their target price 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. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a research note on Monday, November 18th. Finally, Citigroup raised their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st.

Institutional Investors Weigh In On Medtronic

Large investors have recently made changes to their positions in the stock. Copley Financial Group Inc. bought a new position in Medtronic during the 3rd quarter worth about $694,000. Olstein Capital Management L.P. boosted its position in shares of Medtronic by 19.2% during the third quarter. Olstein Capital Management L.P. now owns 87,000 shares of the medical technology company’s stock worth $7,833,000 after buying an additional 14,000 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Medtronic by 322.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 73,593 shares of the medical technology company’s stock worth $6,626,000 after buying an additional 56,178 shares in the last quarter. Ferguson Wellman Capital Management Inc. acquired a new stake in Medtronic in the 3rd quarter valued at approximately $9,486,000. Finally, Soltis Investment Advisors LLC raised its position in Medtronic by 30.0% in the 3rd quarter. Soltis Investment Advisors LLC now owns 88,110 shares of the medical technology company’s stock valued at $7,933,000 after buying an additional 20,352 shares during the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Stock Performance

Shares of NYSE MDT opened at $80.22 on Friday. Medtronic has a 12 month low of $75.96 and a 12 month high of $92.68. The company has a quick ratio of 1.39, a current ratio of 1.84 and a debt-to-equity ratio of 0.51. The company has a market cap of $102.86 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.33 and a beta of 0.82. The business’s 50 day moving average is $85.08 and its two-hundred day moving average is $84.85.

Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.25 by $0.01. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the business earned $1.25 earnings per share. Medtronic’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Medtronic will post 5.45 EPS for the current year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 27th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, December 27th. Medtronic’s payout ratio is currently 85.63%.

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.