Brokerages Set Medtronic plc (NYSE:MDT) Price Target at $95.27

Shares of Medtronic plc (NYSE:MDT) have received a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned 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 analysts that have issued ratings on the stock in the last year is $95.27.

MDT has been the topic of a number of recent research reports. Daiwa America upgraded Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada raised Medtronic from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $98.00 to $105.00 in a report on Thursday, October 10th. Stifel Nicolaus raised their target price on Medtronic from $85.00 to $87.00 and gave the company a “hold” 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. Finally, Truist Financial raised their target price on Medtronic from $90.00 to $93.00 and gave the company a “hold” rating in a report on Monday, October 14th.

Medtronic Price Performance

Medtronic stock opened at $83.99 on Wednesday. The stock’s fifty day moving average price is $88.35 and its two-hundred day moving average price is $85.00. Medtronic has a one year low of $75.96 and a one year high of $92.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.84 and a quick ratio of 1.39. The firm has a market cap of $107.70 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82.

Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the company earned $1.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Medtronic will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, December 27th. Medtronic’s dividend payout ratio (DPR) is 85.63%.

Institutional Investors Weigh In On Medtronic

Hedge funds have recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter worth about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the 3rd quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the 3rd quarter worth about $27,000. J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter worth about $30,000. Finally, Chelsea Counsel Co. acquired a new position in Medtronic during the 3rd quarter worth about $45,000. Institutional investors and hedge funds 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.