Shares of Medtronic plc (NYSE:MDT – Get Free Report) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $93.33.
Several equities research analysts have recently weighed in on MDT shares. UBS Group increased their price objective on Medtronic from $79.00 to $82.00 and gave the company a “sell” rating in a research report on Wednesday, August 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $82.00 price objective on shares of Medtronic in a research report on Wednesday, November 22nd. Wells Fargo & Company increased their price objective on Medtronic from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Mizuho raised their target price on Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, StockNews.com started coverage on Medtronic in a research report on Thursday, October 5th. They issued a “buy” rating for the company.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Missouri Trust & Investment Co increased its stake in shares of Medtronic by 209.0% in the second quarter. Missouri Trust & Investment Co now owns 309 shares of the medical technology company’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Hartford Financial Management Inc. increased its stake in shares of Medtronic by 425.0% in the third quarter. Hartford Financial Management Inc. now owns 315 shares of the medical technology company’s stock valued at $25,000 after buying an additional 255 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Medtronic by 48.9% in the second quarter. Venturi Wealth Management LLC now owns 344 shares of the medical technology company’s stock valued at $30,000 after buying an additional 113 shares in the last quarter. Financial Gravity Asset Management Inc. increased its stake in shares of Medtronic by 317.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 367 shares of the medical technology company’s stock valued at $29,000 after buying an additional 279 shares in the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in shares of Medtronic in the second quarter valued at $32,000. 80.75% of the stock is currently owned by institutional investors and hedge funds.
Medtronic Stock Down 0.4 %
Shares of Medtronic stock opened at $82.07 on Wednesday. The stock has a market capitalization of $109.12 billion, a P/E ratio of 26.73, a PEG ratio of 3.07 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.29 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $75.31 and a two-hundred day moving average price of $80.84. Medtronic has a 12-month low of $68.84 and a 12-month high of $92.02.
Medtronic (NYSE:MDT – Get Free Report) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Medtronic had a return on equity of 13.73% and a net margin of 12.83%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the business earned $1.30 earnings per share. Medtronic’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Medtronic will post 5.16 earnings per share for the current year.
Medtronic Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.69 per share. The ex-dividend date is Tuesday, December 19th. This represents a $2.76 annualized dividend and a yield of 3.36%. Medtronic’s dividend payout ratio is currently 89.90%.
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.