Medtronic plc (NYSE:MDT) Receives $96.07 Average PT from Brokerages

Shares of Medtronic plc (NYSE:MDT) have been given a consensus recommendation of “Hold” by the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $96.07.

MDT has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Medtronic in a report on Wednesday, February 19th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a report on Wednesday, February 19th. UBS Group boosted their price target on shares of Medtronic from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and raised their price objective for the company from $92.00 to $107.00 in a research report on Tuesday, March 4th. Finally, Barclays boosted their target price on shares of Medtronic from $105.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th.

Medtronic Trading Down 0.8 %

Shares of MDT stock opened at $91.15 on Friday. Medtronic has a 1 year low of $75.96 and a 1 year high of $96.25. The firm has a market capitalization of $116.91 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.80. The stock has a fifty day moving average of $90.47 and a two-hundred day moving average of $88.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last announced 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 net margin of 12.83% and a return on equity of 14.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.33 billion. As a group, research analysts expect that Medtronic will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 28th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, March 28th. Medtronic’s dividend payout ratio is currently 85.11%.

Insider Buying and Selling at Medtronic

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total value of $1,119,330.00. Following the completion of the sale, the executive vice president now directly owns 40,979 shares of the company’s stock, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MDT. Darwin Wealth Management LLC purchased a new position in shares of Medtronic during the 3rd quarter valued at $27,000. Mainstream Capital Management LLC purchased a new position in Medtronic in the fourth quarter valued at about $26,000. J. Stern & Co. LLP purchased a new position in Medtronic in the third quarter valued at about $30,000. Rakuten Securities Inc. increased its position in Medtronic by 753.8% in the 4th quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 294 shares during the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Medtronic during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 82.06% 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.