Medtronic plc (NYSE:MDT) Receives Consensus Rating of "Hold" from Brokerages

Shares of Medtronic plc (NYSE:MDT - Get Free Report) have received an average rating of "Hold" from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $96.14.

MDT has been the subject of several analyst reports. Robert W. Baird raised their price objective on shares of Medtronic from $90.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Citigroup raised Medtronic from a "neutral" rating to a "buy" rating and raised their price target for the stock from $92.00 to $107.00 in a research note on Tuesday, March 4th. Truist Financial cut their price objective on Medtronic from $93.00 to $90.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $105.00 target price on shares of Medtronic in a research report on Wednesday, February 19th. Finally, UBS Group boosted their target price on shares of Medtronic from $85.00 to $95.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th.

Medtronic Trading Up 1.4 %

MDT opened at $84.74 on Friday. The stock has a 50-day moving average of $87.65 and a 200 day moving average of $87.09. The company has a current ratio of 1.90, a quick ratio of 1.39 and a debt-to-equity ratio of 0.48. Medtronic has a 12 month low of $75.96 and a 12 month high of $96.25. The firm has a market cap of $108.68 billion, a P/E ratio of 25.76, a P/E/G ratio of 2.22 and a beta of 0.79.

Medtronic (NYSE:MDT - Get Free Report) last announced its earnings results on Tuesday, February 18th. The medical technology company reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.03. The firm had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. As a group, research analysts forecast that Medtronic will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, March 28th. Medtronic's payout ratio is 85.11%.

Hedge Funds Weigh In On Medtronic

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC raised its stake in shares of Medtronic by 185.0% during the 1st quarter. Burkett Financial Services LLC now owns 285 shares of the medical technology company's stock worth $26,000 after acquiring an additional 185 shares in the last quarter. Columbia River Financial Group LLC purchased a new position in Medtronic in the first quarter worth $28,000. Mainstream Capital Management LLC acquired a new position in shares of Medtronic during the fourth quarter worth $26,000. Rakuten Securities Inc. increased its position in shares of Medtronic by 753.8% during the fourth quarter. Rakuten Securities Inc. now owns 333 shares of the medical technology company's stock worth $27,000 after purchasing an additional 294 shares in the last quarter. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Medtronic during the 4th quarter valued at $27,000. Hedge funds and other institutional investors 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.

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