Medtronic PLC (MDT) Receives Average Rating of “Hold” from Analysts

Medtronic PLC (NYSE:MDT) has been given a consensus recommendation of “Hold” by the twenty-six brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $87.68.

MDT has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $94.00 price target on shares of Medtronic in a report on Thursday, November 9th. BidaskClub cut shares of Medtronic from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of Medtronic from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. SunTrust Banks set a $92.00 price objective on shares of Medtronic and gave the stock a “buy” rating in a research report on Sunday, November 19th. Finally, Royal Bank Of Canada lowered their price objective on shares of Medtronic from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th.

Medtronic (MDT) traded up $0.20 during trading on Monday, reaching $81.27. 3,501,371 shares of the company traded hands, compared to its average volume of 4,952,796. Medtronic has a 1-year low of $69.35 and a 1-year high of $89.72. The stock has a market capitalization of $109,730.00, a PE ratio of 17.47, a PEG ratio of 2.24 and a beta of 1.00. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.08. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. equities analysts predict that Medtronic will post 4.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.

In other news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on 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. In the last three months, insiders sold 172,407 shares of company stock worth $13,974,223. Insiders own 0.31% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MDT. Captrust Financial Advisors bought a new stake in Medtronic during the 2nd quarter worth approximately $384,000. Wesbanco Bank Inc. increased its holdings in Medtronic by 3.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 10,170 shares of the medical technology company’s stock worth $903,000 after acquiring an additional 308 shares during the period. Dupont Capital Management Corp increased its holdings in Medtronic by 28.8% during the 2nd quarter. Dupont Capital Management Corp now owns 74,052 shares of the medical technology company’s stock worth $6,572,000 after acquiring an additional 16,562 shares during the period. Chilton Investment Co. LLC increased its holdings in Medtronic by 6.1% during the 2nd quarter. Chilton Investment Co. LLC now owns 26,842 shares of the medical technology company’s stock worth $2,382,000 after acquiring an additional 1,538 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in Medtronic by 0.4% during the 2nd quarter. Moors & Cabot Inc. now owns 43,227 shares of the medical technology company’s stock worth $3,842,000 after acquiring an additional 178 shares during the period. 81.86% of the stock is currently owned by institutional investors.

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Medtronic Company Profile

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 (NYSE:MDT)

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