Medtronic plc (NYSE:MDT) Receives Average Rating of “Hold” from Brokerages

Medtronic plc (NYSE:MDT) has earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $95.80.

Several brokerages recently issued reports on MDT. Robert W. Baird raised their target price on Medtronic from $90.00 to $96.00 in a research report on Friday. Royal Bank of Canada upgraded Medtronic from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $98.00 to $105.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Friday. Daiwa America upgraded Medtronic to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a report on Friday, October 25th.

Medtronic Stock Up 1.8 %

Shares of NYSE:MDT opened at $87.53 on Friday. The firm has a market cap of $112.25 billion, a P/E ratio of 29.57, a P/E/G ratio of 2.51 and a beta of 0.84. The company has a quick ratio of 1.61, a current ratio of 2.13 and a debt-to-equity ratio of 0.55. Medtronic has a 12-month low of $74.20 and a 12-month high of $92.68. The business has a fifty day simple moving average of $89.52 and a 200 day simple moving average of $84.67.

Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $7.97 billion during the quarter, compared to analyst estimates of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. Medtronic’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.20 EPS. Analysts predict that Medtronic will post 5.44 earnings per share for the current year.

Hedge Funds Weigh In On Medtronic

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Darwin Wealth Management LLC acquired a new position in Medtronic during the 3rd quarter valued at about $27,000. Lynx Investment Advisory acquired a new position in Medtronic during the 2nd quarter valued at about $28,000. Finally, J. Stern & Co. LLP acquired a new position in Medtronic during the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

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.