Medtronic (MDT) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Medtronic (NYSE: MDT) in the last few weeks:

  • 6/7/2022 – Medtronic had its price target lowered by analysts at Morgan Stanley from $115.00 to $114.00. They now have an “equal weight” rating on the stock.
  • 6/1/2022 – Medtronic was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating. They now have a $105.00 price target on the stock, down previously from $125.00.
  • 5/31/2022 – Medtronic had its price target lowered by analysts at Raymond James from $116.00 to $109.00.
  • 5/27/2022 – Medtronic had its price target lowered by analysts at Truist Financial Co. from $121.00 to $111.00. They now have a “hold” rating on the stock.
  • 5/27/2022 – Medtronic was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating.
  • 5/27/2022 – Medtronic had its price target lowered by analysts at Morgan Stanley from $120.00 to $115.00. They now have an “equal weight” rating on the stock.
  • 5/27/2022 – Medtronic had its price target lowered by analysts at Citigroup Inc. from $120.00 to $117.00. They now have a “buy” rating on the stock.
  • 5/27/2022 – Medtronic had its price target lowered by analysts at Royal Bank of Canada from $135.00 to $122.00.
  • 5/27/2022 – Medtronic had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $149.00 to $121.00.
  • 5/26/2022 – Medtronic had its price target lowered by analysts at Piper Sandler from $105.00 to $100.00. They now have a “neutral” rating on the stock.
  • 5/23/2022 – Medtronic was given a new $125.00 price target on by analysts at Cowen Inc.. They now have an “outperform” rating on the stock.
  • 5/23/2022 – Medtronic had its price target raised by analysts at Cowen Inc to $125.00.
  • 5/20/2022 – Medtronic had its “buy” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $122.00 price target on the stock.
  • 5/17/2022 – Medtronic had its price target lowered by analysts at Citigroup Inc. from $127.00 to $120.00.
  • 4/13/2022 – Medtronic had its “market perform” rating reaffirmed by analysts at SVB Leerink LLC.
  • 4/13/2022 – Medtronic was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating. They now have a $121.00 price target on the stock, down previously from $124.00.

Shares of NYSE MDT opened at $96.47 on Wednesday. The stock has a market cap of $129.42 billion, a P/E ratio of 25.86, a PEG ratio of 2.74 and a beta of 0.74. The company has a current ratio of 1.86, a quick ratio of 1.49 and a debt-to-equity ratio of 0.39. Medtronic plc has a 12-month low of $94.57 and a 12-month high of $135.89. The business’s fifty day simple moving average is $105.41 and its 200-day simple moving average is $105.91.

Medtronic (NYSE:MDTGet Rating) last announced its quarterly earnings data on Thursday, May 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.04). Medtronic had a net margin of 15.90% and a return on equity of 14.50%. The company had revenue of $8.09 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. The firm’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts forecast that Medtronic plc will post 5.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, June 24th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Thursday, June 23rd. This is a boost from Medtronic’s previous quarterly dividend of $0.63. This represents a $2.72 dividend on an annualized basis and a yield of 2.82%. Medtronic’s dividend payout ratio (DPR) is currently 67.56%.

In related news, SVP Carol A. Surface sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $105.30, for a total transaction of $631,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Karen L. Parkhill sold 682 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was sold at an average price of $110.00, for a total value of $75,020.00. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. MD Financial Management Inc. raised its position in shares of Medtronic by 100.0% during the 3rd quarter. MD Financial Management Inc. now owns 210 shares of the medical technology company’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $25,000. PYA Waltman Capital LLC acquired a new position in shares of Medtronic during the 4th quarter worth approximately $25,000. Horan Securities Inc. acquired a new position in shares of Medtronic during the 4th quarter worth approximately $25,000. Finally, Landmark Wealth Management LLC acquired a new position in shares of Medtronic during the 1st quarter worth approximately $25,000. 80.23% of the stock is currently owned by institutional investors and hedge funds.

Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; AF ablation products; insertable cardiac monitor systems; mechanical circulatory support; TYRX products; and remote monitoring and patient-centered software.

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