Medtronic plc (NYSE:MDT) Receives Consensus Rating of “Hold” from Analysts

Shares of Medtronic plc (NYSE:MDTGet Free Report) have earned an average rating of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.70.

A number of analysts have weighed in on MDT shares. Wells Fargo & Company boosted their price target on Medtronic from $102.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, May 24th. UBS Group lifted their target price on Medtronic from $75.00 to $76.00 and gave the stock a “sell” rating in a report on Friday, May 24th. Truist Financial decreased their price target on Medtronic from $90.00 to $88.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Medtronic in a research note on Wednesday, June 5th.

Check Out Our Latest Stock Analysis on Medtronic

Insider Buying and Selling at Medtronic

In other Medtronic news, CEO Geoffrey Martha sold 19,113 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $83.77, for a total value of $1,601,096.01. Following the completion of the sale, the chief executive officer now directly owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Geoffrey Martha sold 19,113 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $83.77, for a total value of $1,601,096.01. Following the sale, the chief executive officer now owns 143,348 shares of the company’s stock, valued at $12,008,261.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Marinaro sold 854 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $83.14, for a total transaction of $71,001.56. Following the completion of the transaction, the executive vice president now directly owns 27,925 shares of the company’s stock, valued at $2,321,684.50. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in shares of Medtronic by 7.1% during the 1st quarter. Capital Research Global Investors now owns 30,884,412 shares of the medical technology company’s stock valued at $2,691,577,000 after purchasing an additional 2,044,109 shares during the last quarter. Bank of New York Mellon Corp grew its position in Medtronic by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 21,817,063 shares of the medical technology company’s stock valued at $1,901,357,000 after acquiring an additional 727,931 shares during the last quarter. Norges Bank purchased a new position in shares of Medtronic during the fourth quarter worth approximately $1,229,726,000. Sanders Capital LLC lifted its holdings in shares of Medtronic by 2.8% in the 4th quarter. Sanders Capital LLC now owns 12,634,161 shares of the medical technology company’s stock worth $1,040,802,000 after acquiring an additional 346,641 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Medtronic by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,089,400 shares of the medical technology company’s stock valued at $893,352,000 after purchasing an additional 101,111 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Medtronic Trading Up 0.6 %

MDT stock opened at $77.61 on Friday. The stock has a market cap of $99.52 billion, a price-to-earnings ratio of 28.22, a price-to-earnings-growth ratio of 2.25 and a beta of 0.82. The company has a fifty day moving average price of $81.56 and a two-hundred day moving average price of $83.34. Medtronic has a one year low of $68.84 and a one year high of $91.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 1.55.

Medtronic (NYSE:MDTGet Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The medical technology company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.01. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Medtronic had a net margin of 11.36% and a return on equity of 13.47%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 EPS. Equities analysts anticipate that Medtronic will post 5.44 EPS for the current year.

Medtronic Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.61%. This is an increase from Medtronic’s previous quarterly dividend of $0.69. The ex-dividend date is Friday, June 28th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

About Medtronic

(Get Free Report

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.

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Analyst Recommendations for Medtronic (NYSE:MDT)

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