Analysts Set Medtronic PLC (MDT) Price Target at $87.53

Medtronic PLC (NYSE:MDT) has been assigned a consensus rating of “Hold” from the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $87.53.

A number of research firms have recently weighed in on MDT. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Thursday, September 28th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $96.00 target price on shares of Medtronic PLC in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. BidaskClub downgraded shares of Medtronic PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Cowen and Company set a $95.00 target price on shares of Medtronic PLC and gave the stock a “buy” rating in a research report on Tuesday, August 22nd.

Shares of Medtronic PLC (MDT) traded up $0.23 during trading on Thursday, reaching $79.49. 7,094,196 shares of the company’s stock were exchanged, compared to its average volume of 5,615,156. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 0.51. The stock has a market cap of $107,676.43, a P/E ratio of 16.95, a P/E/G ratio of 2.16 and a beta of 1.00. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72.

Medtronic PLC (NYSE:MDT) last released its earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.04. The firm had revenue of $7.39 billion for the quarter, compared to the consensus estimate of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. sell-side analysts expect that Medtronic PLC will post 4.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.

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In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares in the company, valued at approximately $54,569,899.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,407 shares of company stock worth $13,974,223 in the last 90 days. Company insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gofen & Glossberg LLC IL increased its position in shares of Medtronic PLC by 9.2% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock valued at $591,000 after purchasing an additional 642 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Medtronic PLC by 10.2% during the 3rd quarter. Moors & Cabot Inc. now owns 47,640 shares of the medical technology company’s stock valued at $3,721,000 after purchasing an additional 4,413 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of Medtronic PLC by 3.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 22,171 shares of the medical technology company’s stock valued at $1,731,000 after purchasing an additional 683 shares during the last quarter. Yellowstone Partners LLC purchased a new stake in shares of Medtronic PLC during the 3rd quarter valued at about $465,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Medtronic PLC during the 3rd quarter valued at about $352,000. 81.14% of the stock is owned by hedge funds and other institutional investors.

About Medtronic PLC

Medtronic Public Limited Company (Medtronic) is a medical technology and services company. The Company develops, manufactures and markets its medical devices and technologies to hospitals, physicians, clinicians and patients in approximately 160 countries. The Company operates in four segments: Cardiac and Vascular Group, Minimally Invasive Technologies Group, Restorative Therapies Group and Diabetes Group.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

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