Medtronic PLC (NYSE:MDT) Given Average Recommendation of “Moderate Buy” by Brokerages

Medtronic PLC (NYSE:MDT) has received a consensus rating of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $107.80.

A number of research analysts recently weighed in on the company. Mizuho decreased their target price on Medtronic from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Daiwa Securities Group decreased their target price on Medtronic from $117.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Medtronic in a report on Thursday, March 26th. Evercore set a $106.00 target price on Medtronic and gave the stock an “outperform” rating in a report on Thursday, April 9th. Finally, Barclays upped their price objective on Medtronic from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, April 1st.

Medtronic Stock Up 1.5%

MDT stock opened at $78.51 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.87 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $100.80 billion, a PE ratio of 21.87, a PEG ratio of 1.84 and a beta of 0.62. Medtronic has a 1-year low of $74.40 and a 1-year high of $106.33. The business’s 50 day simple moving average is $84.20 and its 200 day simple moving average is $93.43.

Medtronic (NYSE:MDT) last posted its earnings results on Tuesday, February 17th. The medical technology company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $9.02 billion for the quarter, compared to analyst estimates of $8.89 billion. Medtronic had a return on equity of 14.82% and a net margin of 13.00%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.38 EPS. As a group, research analysts anticipate that Medtronic will post 5.57 EPS for the current year.

Medtronic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, March 27th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, March 27th. Medtronic’s dividend payout ratio is currently 79.11%.

Insider Buying and Selling

In other Medtronic news, EVP Harry Skip Kiil sold 52,524 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $97.71, for a total value of $5,132,120.04. Following the transaction, the executive vice president directly owned 32,768 shares of the company’s stock, valued at $3,201,761.28. This represents a 61.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDT. Norges Bank acquired a new position in Medtronic in the 4th quarter valued at $1,653,485,000. WCM Investment Management LLC acquired a new position in Medtronic in the 1st quarter valued at $965,922,000. Capital Research Global Investors grew its holdings in Medtronic by 12.6% in the 4th quarter. Capital Research Global Investors now owns 34,573,163 shares of the medical technology company’s stock valued at $3,321,101,000 after buying an additional 3,880,174 shares in the last quarter. Barclays PLC grew its holdings in Medtronic by 104.6% in the 3rd quarter. Barclays PLC now owns 6,831,203 shares of the medical technology company’s stock valued at $650,604,000 after buying an additional 3,492,192 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Medtronic by 78.3% in the 3rd quarter. Schroder Investment Management Group now owns 7,529,849 shares of the medical technology company’s stock valued at $717,143,000 after buying an additional 3,307,211 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.

Medtronic News Summary

Here are the key news stories impacting Medtronic this week:

• Positive Sentiment: Medtronic’s long-running dividend growth story is in focus again, with investors viewing the company as a stable income name as its 47-year streak of dividend increases is expected to continue. Medtronic dividend preview: 47-year growth streak set to continue
• Positive Sentiment: Medtronic is also benefiting from the broader “silver economy” investment theme, as aging populations continue to drive demand for medical devices and healthcare solutions. Silver Economy Investing: Why the Healthcare Giants Are in Focus
• Neutral Sentiment: The company announced Kweli Thompson will take over leadership of its neuroscience portfolio, replacing Brett Wall as part of a planned transition. The move keeps attention on execution in a major segment, but it is not a major financial update by itself. Medtronic Neuroscience Appointment Puts Focus On Execution And Growth Risks
• Neutral Sentiment: Medtronic also named new leaders in its neuroscience portfolio in a separate announcement, reinforcing that the change is already being absorbed by the market. Medtronic, BD name new leaders
• Neutral Sentiment: Recent trading commentary noted MDT had been advancing while the broader market declined, suggesting relative strength rather than a company-specific catalyst. Medtronic (MDT) Advances While Market Declines: Some Information for Investors

Medtronic Company Profile

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic’s offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter?defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).