Analysts Set Medtronic plc (NYSE:MDT) PT at $95.27

Medtronic plc (NYSE:MDT - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $95.27.

Several research analysts have issued reports on MDT shares. Piper Sandler lifted their target price on shares of Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a report on Monday, November 18th. Truist Financial lifted their target price on shares of Medtronic from $90.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, October 14th. Barclays lifted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an "overweight" rating in a report on Tuesday, November 26th. Finally, Robert W. Baird reduced their price target on shares of Medtronic from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Wednesday, November 20th.

Medtronic Stock Down 0.3 %

NYSE MDT traded down $0.23 during trading hours on Wednesday, reaching $85.48. 2,575,368 shares of the company's stock traded hands, compared to its average volume of 6,254,179. Medtronic has a 52-week low of $75.96 and a 52-week high of $92.68. The firm has a market cap of $109.61 billion, a PE ratio of 26.21, a PEG ratio of 2.45 and a beta of 0.82. The firm has a 50-day simple moving average of $88.54 and a 200 day simple moving average of $85.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39.

Medtronic (NYSE:MDT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.25 by $0.01. Medtronic had a net margin of 13.00% and a return on equity of 13.79%. The company had revenue of $8.40 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the company posted $1.25 EPS. Medtronic's revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Medtronic will post 5.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Medtronic

Several large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings 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. Pzena Investment Management LLC lifted its holdings in shares of Medtronic by 3.3% in the third quarter. Pzena Investment Management LLC now owns 8,582,993 shares of the medical technology company's stock worth $772,727,000 after buying an additional 275,870 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Medtronic by 436.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,343,385 shares of the medical technology company's stock worth $661,125,000 after buying an additional 5,975,110 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Medtronic by 7.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,120,554 shares of the medical technology company's stock worth $560,494,000 after buying an additional 515,751 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Medtronic by 2.3% in the third quarter. Raymond James & Associates now owns 6,391,865 shares of the medical technology company's stock worth $575,460,000 after buying an additional 145,504 shares in the last quarter. Hedge funds and other 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.