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

Medtronic plc (NYSE:MDT) has received a consensus rating of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $91.67.

Several equities research analysts have recently weighed in on the stock. Oppenheimer reiterated a “market perform” rating and set a $89.00 price objective on shares of Medtronic in a research report on Wednesday, August 23rd. Truist Financial decreased their price objective on shares of Medtronic from $93.00 to $90.00 in a research report on Friday, May 26th. Mizuho increased their price objective on shares of Medtronic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. 22nd Century Group reiterated an “initiates” rating on shares of Medtronic in a research report on Friday, June 30th. Finally, Wells Fargo & Company increased their price objective on shares of Medtronic from $100.00 to $102.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 23rd.

Medtronic Trading Up 0.0 %

Shares of NYSE MDT opened at $79.96 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.79 and a current ratio of 2.42. Medtronic has a 52-week low of $75.76 and a 52-week high of $92.39. The firm has a 50 day moving average price of $84.68 and a two-hundred day moving average price of $84.41. The stock has a market cap of $106.39 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 2.81 and a beta of 0.71.

Medtronic (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.09. Medtronic had a net margin of 11.47% and a return on equity of 13.81%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same period in the prior year, the company posted $1.13 EPS. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Medtronic will post 5.12 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 22nd will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Thursday, September 21st. Medtronic’s dividend payout ratio (DPR) is 101.85%.

Insider Buying and Selling at Medtronic

In other Medtronic news, EVP Brett A. Wall sold 2,000 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the transaction, the executive vice president now directly owns 23,948 shares of the company’s stock, valued at $2,106,705.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Brett A. Wall sold 2,000 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $87.97, for a total value of $175,940.00. Following the completion of the sale, the executive vice president now owns 23,948 shares in the company, valued at $2,106,705.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory L. Smith sold 10,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.84, for a total transaction of $838,400.00. Following the completion of the sale, the executive vice president now owns 46,723 shares of the company’s stock, valued at approximately $3,917,256.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,866 shares of company stock valued at $1,688,839. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Medtronic

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Medtronic by 0.3% during the second quarter. State Street Corp now owns 60,146,861 shares of the medical technology company’s stock worth $5,339,879,000 after buying an additional 175,765 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Medtronic by 4.9% in the second quarter. Capital Research Global Investors now owns 31,493,771 shares of the medical technology company’s stock worth $2,774,598,000 after purchasing an additional 1,475,241 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Medtronic by 0.3% in the first quarter. Wellington Management Group LLP now owns 29,945,349 shares of the medical technology company’s stock worth $2,414,194,000 after purchasing an additional 88,302 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Medtronic by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 27,222,300 shares of the medical technology company’s stock worth $2,112,247,000 after purchasing an additional 423,715 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Medtronic by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 20,349,983 shares of the medical technology company’s stock worth $1,640,616,000 after purchasing an additional 327,737 shares in the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.

About Medtronic

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.