Oppenheimer set a $94.00 price target on Medtronic (NYSE:MDT) in a research report sent to investors on Friday. The firm currently has a buy rating on the medical technology company’s stock.
MDT has been the topic of several other research reports. Jefferies Group reiterated a buy rating and set a $96.00 price target on shares of Medtronic in a research note on Thursday, September 28th. SunTrust Banks reiterated a buy rating and set a $96.00 price target on shares of Medtronic in a research note on Monday, October 2nd. Stifel Nicolaus dropped their price target on shares of Medtronic from $91.00 to $83.00 and set a hold rating on the stock in a research note on Monday, October 9th. Wells Fargo & Co cut shares of Medtronic from an outperform rating to a market perform rating and dropped their price target for the stock from $93.00 to $83.00 in a research note on Monday, October 9th. Finally, Needham & Company LLC dropped their price target on shares of Medtronic from $95.00 to $94.00 and set a buy rating on the stock in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the stock. Medtronic presently has a consensus rating of Buy and a consensus target price of $89.65.
Shares of Medtronic (NYSE MDT) traded down $0.58 during trading on Friday, hitting $86.68. 7,259,016 shares of the stock traded hands, compared to its average volume of 4,930,000. The stock has a market cap of $118,110.00, a PE ratio of 23.81, a PEG ratio of 2.40 and a beta of 0.99. Medtronic has a 1-year low of $73.59 and a 1-year high of $89.72. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50.
Medtronic (NYSE:MDT) last issued its quarterly earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. equities research analysts expect that Medtronic will post 4.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, January 19th. Investors of record on Friday, December 29th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is 50.55%.
In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of Medtronic stock in a transaction on Friday, January 5th. The shares were sold at an average price of $85.00, for a total value of $2,223,430.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Kuntz sold 78,526 shares of Medtronic stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total transaction of $6,769,726.46. Following the completion of the sale, the vice president now owns 149,761 shares in the company, valued at $12,910,895.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,684 shares of company stock worth $11,582,596. 0.31% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BDO Wealth Advisors LLC bought a new stake in Medtronic in the 2nd quarter valued at $103,000. Motco increased its holdings in Medtronic by 8.7% in the 2nd quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after acquiring an additional 99 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock valued at $114,000 after acquiring an additional 290 shares during the last quarter. Blue Chip Partners Inc. bought a new stake in Medtronic in the 3rd quarter valued at $118,000. Finally, Westwood Holdings Group Inc. bought a new stake in Medtronic in the 2nd quarter valued at $151,000. Institutional investors own 81.75% of the company’s stock.
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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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