Brokerages Set Medtronic plc (NYSE:MDT) Target Price at $95.00

Shares of Medtronic plc (NYSE:MDT) have earned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $95.00.

Several research analysts have recently weighed in on MDT shares. Robert W. Baird upped their price objective on Medtronic from $90.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on Medtronic from $106.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Medtronic in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, UBS Group upped their price objective on Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Medtronic Stock Up 2.3 %

NYSE:MDT opened at $89.95 on Monday. Medtronic has a 1 year low of $75.96 and a 1 year high of $93.08. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. The stock has a market cap of $115.34 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.46 and a beta of 0.84. The stock has a 50-day moving average price of $86.08 and a two-hundred day moving average price of $87.10.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.33 billion. As a group, equities analysts expect that Medtronic will post 5.46 earnings per share for the current year.

Medtronic Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, December 27th. This represents a $2.80 annualized dividend and a yield of 3.11%. Medtronic’s payout ratio is presently 85.11%.

Insider Buying and Selling

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $90.00, for a total value of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Medtronic

Institutional investors and hedge funds have recently bought and sold shares of the business. Mainstream Capital Management LLC bought a new stake in Medtronic in the fourth quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Darwin Wealth Management LLC bought a new stake in Medtronic in the third quarter valued at approximately $27,000. Finally, Stephens Consulting LLC raised its stake in Medtronic by 145.7% in the fourth quarter. Stephens Consulting LLC now owns 344 shares of the medical technology company’s stock valued at $27,000 after buying an additional 204 shares during the period. Institutional investors own 82.06% of the company’s stock.

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.