Medtronic plc. (NYSE:MDT) has been assigned a consensus recommendation of “Buy” from the twenty-five ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $90.85.
A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Oppenheimer reaffirmed a “buy” rating and issued a $94.00 price objective on shares of Medtronic in a research note on Tuesday, February 20th. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a research note on Tuesday, February 20th. Bank of America raised Medtronic from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $92.00 price target on shares of Medtronic in a research note on Wednesday, February 14th.
In other Medtronic news, Director James T. Lenehan sold 1,306 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total transaction of $109,129.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $78.18, for a total value of $1,913,768.22. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.
A number of hedge funds have recently modified their holdings of MDT. Schulhoff & Co. Inc. raised its holdings in shares of Medtronic by 4.0% in the fourth quarter. Schulhoff & Co. Inc. now owns 15,739 shares of the medical technology company’s stock worth $1,270,000 after buying an additional 600 shares during the period. BKD Wealth Advisors LLC raised its holdings in shares of Medtronic by 6.0% in the fourth quarter. BKD Wealth Advisors LLC now owns 10,825 shares of the medical technology company’s stock worth $874,000 after buying an additional 613 shares during the period. Watch Point Trust Co raised its holdings in shares of Medtronic by 3.3% in the fourth quarter. Watch Point Trust Co now owns 19,961 shares of the medical technology company’s stock worth $1,611,000 after buying an additional 631 shares during the period. Gofen & Glossberg LLC IL raised its holdings in shares of Medtronic by 9.2% in the third quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock worth $591,000 after buying an additional 642 shares during the period. Finally, Stonebridge Capital Advisors LLC raised its holdings in shares of Medtronic by 8.8% in the third quarter. Stonebridge Capital Advisors LLC now owns 8,044 shares of the medical technology company’s stock worth $625,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 81.20% of the company’s stock.
Shares of NYSE MDT traded down $0.38 during mid-day trading on Friday, reaching $79.62. The company’s stock had a trading volume of 958,334 shares, compared to its average volume of 5,384,032. The firm has a market cap of $108,687.37, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The company has a quick ratio of 2.09, a current ratio of 2.43 and a debt-to-equity ratio of 0.51. Medtronic has a 52 week low of $76.41 and a 52 week high of $89.72.
Medtronic (NYSE:MDT) last released its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 earnings per share. research analysts expect that Medtronic will post 4.74 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 23rd were given a dividend of $0.46 per share. The ex-dividend date was Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 2.31%. Medtronic’s dividend payout ratio (DPR) is presently 40.00%.
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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.
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