Analysts Set Medtronic plc (NYSE:MDT) PT at $94.91

Medtronic plc (NYSE:MDT - Get Free Report) has been given an average recommendation of "Hold" by the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $94.91.

MDT has been the subject of several recent analyst reports. Truist Financial increased their price objective on shares of Medtronic from $87.00 to $90.00 and gave the stock a "hold" rating in a research report on Wednesday, February 21st. Oppenheimer lifted their price objective on Medtronic from $89.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated a "sector perform" rating and set a $92.00 target price on shares of Medtronic in a research report on Wednesday, February 21st. Finally, Mizuho lifted their target price on Medtronic from $95.00 to $98.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st.

Medtronic Price Performance

Shares of MDT stock traded up $0.71 on Tuesday, hitting $81.28. 5,296,122 shares of the company's stock were exchanged, compared to its average volume of 6,290,356. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 1.71. Medtronic has a 12 month low of $68.84 and a 12 month high of $92.02. The stock has a market cap of $107.93 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.76. The company has a 50 day moving average of $83.80 and a 200 day moving average of $81.14.

Medtronic (NYSE:MDT - Get Free Report) last posted its earnings results on Tuesday, February 20th. The medical technology company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.95 billion. Medtronic had a return on equity of 13.71% and a net margin of 13.00%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.30 earnings per share. On average, equities research analysts predict that Medtronic will post 5.2 EPS for the current year.

Medtronic Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 22nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 21st. Medtronic's payout ratio is 87.90%.

Insider Transactions at Medtronic

In other Medtronic news, EVP Michael Marinaro sold 854 shares of the business's stock in a transaction on Monday, April 8th. The stock was sold at an average price of $83.14, for a total value of $71,001.56. Following the transaction, the executive vice president now owns 27,925 shares of the company's stock, valued at $2,321,684.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Medtronic news, EVP Michael Marinaro sold 854 shares of Medtronic stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $83.14, for a total value of $71,001.56. Following the sale, the executive vice president now owns 27,925 shares of the company's stock, valued at $2,321,684.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sean Salmon sold 30,695 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.13, for a total transaction of $2,613,065.35. Following the transaction, the executive vice president now directly owns 48,289 shares of the company's stock, valued at $4,110,842.57. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Institutional Trading of Medtronic

A number of large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Medtronic in the fourth quarter valued at $1,229,726,000. First Eagle Investment Management LLC grew its position in shares of Medtronic by 54.5% in the fourth quarter. First Eagle Investment Management LLC now owns 9,409,680 shares of the medical technology company's stock valued at $775,169,000 after purchasing an additional 3,320,800 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Medtronic by 112.8% in the third quarter. Pzena Investment Management LLC now owns 5,730,577 shares of the medical technology company's stock valued at $449,048,000 after purchasing an additional 3,037,394 shares in the last quarter. Morgan Stanley grew its position in shares of Medtronic by 9.2% in the third quarter. Morgan Stanley now owns 23,777,808 shares of the medical technology company's stock valued at $1,863,229,000 after purchasing an additional 1,994,123 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Medtronic by 145.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,372,641 shares of the medical technology company's stock valued at $195,431,000 after purchasing an additional 1,405,978 shares in the last quarter. 82.06% of the stock is owned by hedge funds and other institutional investors.

Medtronic Company Profile

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.