Brokerages Set Medtronic plc (NYSE:MDT) PT at $95.36

Shares of Medtronic plc (NYSE:MDT - Get Free Report) have been assigned a consensus rating of "Hold" from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six 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 ratings on the stock in the last year is $95.36.

A number of analysts recently commented on the company. Citigroup lifted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. UBS Group upgraded shares of Medtronic from a "sell" rating to a "neutral" rating and raised their target price for the stock from $76.00 to $90.00 in a research report on Thursday, August 15th. Truist Financial boosted their price target on Medtronic from $90.00 to $93.00 and gave the company a "hold" rating in a report on Monday. Piper Sandler increased their target price on Medtronic from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus raised their price target on Medtronic from $85.00 to $87.00 and gave the stock a "hold" rating in a research note on Wednesday, August 21st.

Medtronic Price Performance

Shares of NYSE MDT traded down $0.17 on Tuesday, hitting $89.84. The company's stock had a trading volume of 4,159,955 shares, compared to its average volume of 6,267,091. The stock has a 50 day moving average of $87.74 and a 200-day moving average of $83.46. The company has a market capitalization of $115.20 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Medtronic has a 12-month low of $68.84 and a 12-month high of $91.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.13 and a quick ratio of 1.61.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The firm had revenue of $7.97 billion for the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic's revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, research analysts predict that Medtronic will post 5.44 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, September 27th. Medtronic's dividend payout ratio (DPR) is 101.82%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its holdings in Medtronic by 7.1% in the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company's stock worth $2,691,577,000 after buying an additional 2,044,109 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of Medtronic by 8.3% during the second quarter. Pzena Investment Management LLC now owns 8,307,123 shares of the medical technology company's stock worth $653,854,000 after acquiring an additional 637,931 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 acquiring an additional 515,751 shares in the last quarter. Longview Partners Guernsey LTD boosted its holdings in Medtronic by 2.3% in the first quarter. Longview Partners Guernsey LTD now owns 6,635,054 shares of the medical technology company's stock worth $578,245,000 after purchasing an additional 147,737 shares during the period. Finally, Raymond James & Associates increased its stake in Medtronic by 5.7% during the second quarter. Raymond James & Associates now owns 6,246,361 shares of the medical technology company's stock valued at $491,651,000 after purchasing an additional 336,618 shares during the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

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.