Medtronic plc (NYSE:MDT – Get Rating) has received a consensus rating of “Hold” from the twenty-four brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $110.78.
Several brokerages recently issued reports on MDT. Piper Sandler cut their target price on shares of Medtronic from $100.00 to $90.00 in a research report on Tuesday, August 23rd. Stifel Nicolaus cut their target price on shares of Medtronic from $125.00 to $105.00 in a research report on Monday, July 18th. Wells Fargo & Company cut their target price on shares of Medtronic from $104.00 to $96.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 24th. Truist Financial cut their price target on shares of Medtronic from $111.00 to $97.00 and set a “hold” rating for the company in a research report on Wednesday, July 20th. Finally, Royal Bank of Canada cut their price target on shares of Medtronic from $122.00 to $110.00 in a research report on Wednesday, September 7th.
Hedge Funds Weigh In On Medtronic
A number of institutional investors have recently bought and sold shares of the stock. Capital Wealth Alliance LLC bought a new position in Medtronic in the second quarter worth about $902,000. Coston McIsaac & Partners bought a new position in Medtronic in the second quarter worth about $2,688,000. Brown Advisory Inc. raised its stake in Medtronic by 2.7% in the second quarter. Brown Advisory Inc. now owns 228,764 shares of the medical technology company’s stock worth $20,532,000 after buying an additional 6,041 shares in the last quarter. B. Riley Wealth Management Inc. raised its stake in Medtronic by 29.4% in the second quarter. B. Riley Wealth Management Inc. now owns 8,579 shares of the medical technology company’s stock worth $112,666,000 after buying an additional 1,948 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of Medtronic by 0.6% during the second quarter. Royal London Asset Management Ltd. now owns 494,080 shares of the medical technology company’s stock valued at $44,391,000 after purchasing an additional 3,089 shares in the last quarter. 79.81% of the stock is owned by institutional investors.
Medtronic Trading Down 1.1 %
Medtronic stock opened at $82.66 on Monday. Medtronic has a fifty-two week low of $81.62 and a fifty-two week high of $131.31. The firm’s fifty day moving average price is $90.77 and its 200-day moving average price is $97.42. The stock has a market cap of $109.87 billion, a P/E ratio of 21.36, a PEG ratio of 2.18 and a beta of 0.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.23 and a current ratio of 1.58.
Medtronic (NYSE:MDT – Get Rating) last announced its earnings results on Tuesday, August 23rd. The medical technology company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.01. Medtronic had a net margin of 16.75% and a return on equity of 13.64%. The company had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same period in the previous year, the business earned $1.41 earnings per share. Equities research analysts forecast that Medtronic will post 5.53 earnings per share for the current fiscal year.
Medtronic Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 23rd will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Thursday, September 22nd. Medtronic’s payout ratio is currently 70.28%.
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.