Medtronic plc (NYSE:MDT) Receives Consensus Recommendation of “Buy” from Analysts

Medtronic plc (NYSE:MDTGet Rating) has received an average rating of “Buy” from the twenty-seven ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $127.83.

MDT has been the topic of several recent research reports. Raymond James decreased their price target on shares of Medtronic from $127.00 to $116.00 and set an “outperform” rating on the stock in a research report on Friday, February 18th. Piper Sandler decreased their price target on shares of Medtronic from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 16th. Needham & Company LLC decreased their price target on shares of Medtronic from $128.00 to $124.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. SVB Leerink restated a “market perform” rating on shares of Medtronic in a research report on Wednesday, April 13th. Finally, Cowen lifted their price objective on shares of Medtronic to $125.00 in a research report on Monday.

NYSE MDT opened at $104.26 on Tuesday. Medtronic has a 12 month low of $98.38 and a 12 month high of $135.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.61 and a quick ratio of 2.10. The firm has a market capitalization of $139.87 billion, a PE ratio of 28.72, a P/E/G ratio of 2.34 and a beta of 0.74. The company’s 50 day simple moving average is $107.52 and its 200 day simple moving average is $107.49.

Medtronic (NYSE:MDTGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The medical technology company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.01. The firm had revenue of $7.76 billion for the quarter, compared to analyst estimates of $7.91 billion. Medtronic had a net margin of 15.46% and a return on equity of 14.57%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 earnings per share. Sell-side analysts anticipate that Medtronic will post 5.66 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 22nd. Investors of record on Friday, March 25th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This represents a $2.52 annualized dividend and a yield of 2.42%. Medtronic’s dividend payout ratio is currently 69.42%.

In other news, SVP Carol A. Surface sold 6,000 shares of the stock in a transaction on Friday, March 11th. The shares were sold at an average price of $105.30, for a total transaction of $631,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Karen L. Parkhill sold 682 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $110.00, for a total transaction of $75,020.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Ibex Wealth Advisors bought a new position in Medtronic in the third quarter valued at $26,000. MD Financial Management Inc. grew its position in Medtronic by 100.0% in the third quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 105 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in Medtronic in the fourth quarter valued at $25,000. PYA Waltman Capital LLC bought a new position in Medtronic in the fourth quarter valued at $25,000. Finally, Horan Securities Inc. bought a new position in Medtronic in the fourth quarter valued at $25,000. 80.23% of the stock is owned by institutional investors.

About Medtronic (Get Rating)

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

Recommended Stories

Analyst Recommendations for Medtronic (NYSE:MDT)

Receive News & Ratings for Medtronic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic and related companies with MarketBeat.com's FREE daily email newsletter.