Medtronic (MDT) Receiving Somewhat Favorable News Coverage, Study Shows

Media coverage about Medtronic (NYSE:MDT) has been trending somewhat positive recently, Accern Sentiment reports. The research firm rates the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Medtronic earned a media sentiment score of 0.16 on Accern’s scale. Accern also gave news coverage about the medical technology company an impact score of 47.0333698180444 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the media stories that may have impacted Accern’s rankings:

Shares of Medtronic (NYSE MDT) traded up $0.37 on Friday, hitting $83.31. 6,824,763 shares of the company traded hands, compared to its average volume of 5,510,000. The company has a quick ratio of 2.05, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $112,260.00, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.93. Medtronic has a fifty-two week low of $76.51 and a fifty-two week high of $89.72.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.12 earnings per share. equities research analysts expect that Medtronic will post 4.76 earnings per share for the current fiscal year.

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 28th. Medtronic’s payout ratio is 50.55%.

Several brokerages have weighed in on MDT. Morgan Stanley upped their target price on shares of Medtronic from $91.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Oppenheimer set a $94.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Friday, January 19th. Cowen reaffirmed a “buy” rating and issued a $95.00 price target on shares of Medtronic in a report on Friday, November 3rd. Jefferies Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of Medtronic in a report on Thursday, November 23rd. Finally, Stifel Nicolaus upped their price target on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Two equities research 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.45.

In other Medtronic news, EVP Hooman Hakami sold 26,158 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $85.00, for a total transaction of $2,223,430.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $82.82, for a total transaction of $1,325,120.00. Following the transaction, the executive vice president now directly owns 88,818 shares in the company, valued at approximately $7,355,906.76. The disclosure for this sale can be found here. Insiders have sold 120,684 shares of company stock worth $10,318,276 in the last three months. Insiders own 0.31% of the company’s stock.

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About Medtronic

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.

Insider Buying and Selling by Quarter for Medtronic (NYSE:MDT)

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