Medtronic plc (NYSE:MDT) Given Consensus Recommendation of "Hold" by Brokerages

Medtronic plc (NYSE:MDT - Get Free Report) has received a consensus rating of "Hold" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $96.14.

MDT has been the subject of a number of analyst reports. Truist Financial dropped their price target on shares of Medtronic from $93.00 to $90.00 and set a "hold" rating for the company in a research report on Friday. UBS Group lifted their price objective on Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Citigroup upgraded Medtronic from a "neutral" rating to a "buy" rating and upped their target price for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Royal Bank of Canada restated an "outperform" rating and issued a $105.00 price target on shares of Medtronic in a research report on Wednesday, February 19th. Finally, Robert W. Baird upped their price objective 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.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company'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 of the company's stock, valued at $3,688,110. This represents a 23.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company's stock.

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Institutional Trading of Medtronic

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its holdings in shares of Medtronic by 0.9% during the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company's stock worth $1,182,000 after purchasing an additional 115 shares during the period. MONECO Advisors LLC lifted its holdings in Medtronic by 1.8% during the 4th quarter. MONECO Advisors LLC now owns 6,408 shares of the medical technology company's stock worth $512,000 after buying an additional 115 shares during the period. OLD Second National Bank of Aurora grew its position in shares of Medtronic by 0.3% in the 4th quarter. OLD Second National Bank of Aurora now owns 36,303 shares of the medical technology company's stock valued at $2,900,000 after buying an additional 121 shares during the last quarter. McKinley Carter Wealth Services Inc. grew its position in shares of Medtronic by 0.7% in the 4th quarter. McKinley Carter Wealth Services Inc. now owns 19,677 shares of the medical technology company's stock valued at $1,572,000 after buying an additional 129 shares during the last quarter. Finally, Faithward Advisors LLC raised its position in shares of Medtronic by 2.7% during the fourth quarter. Faithward Advisors LLC now owns 5,043 shares of the medical technology company's stock worth $403,000 after acquiring an additional 134 shares during the last quarter. 82.06% of the stock is currently owned by institutional investors.

Medtronic Stock Performance

MDT stock traded up $0.15 during trading hours on Tuesday, hitting $82.69. 8,011,993 shares of the stock were exchanged, compared to its average volume of 6,683,270. Medtronic has a 12 month low of $75.96 and a 12 month high of $96.25. 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 firm has a market capitalization of $106.05 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a 50-day simple moving average of $89.71 and a two-hundred day simple moving average of $87.65.

Medtronic (NYSE:MDT - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.33 billion. On average, analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic's dividend payout ratio is 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.