Medtronic plc (NYSE:MDT) Given Consensus Rating of “Hold” by Analysts

Medtronic plc (NYSE:MDT) has been assigned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $95.00.

MDT has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Medtronic from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Barclays raised their price target on Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Citigroup increased their price objective on shares of Medtronic from $85.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Finally, Robert W. Baird reduced their target price on shares of Medtronic from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Wednesday, November 20th.

Institutional Trading of Medtronic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Harbor Asset Management LLC increased its stake in shares of Medtronic by 1.2% in the third quarter. Clear Harbor Asset Management LLC now owns 9,558 shares of the medical technology company’s stock valued at $861,000 after buying an additional 111 shares during the period. Guardian Wealth Management Inc. boosted its holdings in Medtronic by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 13,131 shares of the medical technology company’s stock valued at $1,182,000 after acquiring an additional 115 shares during the last quarter. First PREMIER Bank increased its position in Medtronic by 1.8% during the 3rd quarter. First PREMIER Bank now owns 6,417 shares of the medical technology company’s stock valued at $577,000 after purchasing an additional 116 shares during the period. First City Capital Management Inc. raised its holdings in Medtronic by 2.9% during the 3rd quarter. First City Capital Management Inc. now owns 4,123 shares of the medical technology company’s stock worth $371,000 after purchasing an additional 116 shares during the last quarter. Finally, Hardy Reed LLC lifted its position in shares of Medtronic by 4.4% in the 3rd quarter. Hardy Reed LLC now owns 2,743 shares of the medical technology company’s stock worth $247,000 after purchasing an additional 116 shares during the period. 82.06% of the stock is currently owned by institutional investors and hedge funds.

Medtronic Trading Up 0.4 %

Shares of NYSE:MDT opened at $80.22 on Friday. The company’s 50-day moving average price is $85.08 and its two-hundred day moving average price is $84.85. 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 stock has a market capitalization of $102.86 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.33 and a beta of 0.82.

Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 19th. The medical technology company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.27 billion. Medtronic had a return on equity of 13.79% and a net margin of 13.00%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, equities analysts forecast that Medtronic will post 5.45 EPS for the current fiscal year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 27th will be paid a $0.70 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 3.49%. Medtronic’s dividend payout ratio is 85.63%.

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.