Medtronic (NYSE:MDT) has earned a consensus rating of “Buy” from the twenty-five brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $90.85.
A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Medtronic from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, March 29th. Oppenheimer restated a “buy” rating on shares of Medtronic in a research report on Tuesday, March 20th. Citigroup restated a “buy” rating and set a $93.00 price target (down from $100.00) on shares of Medtronic in a research report on Thursday, February 22nd. TheStreet lowered Medtronic from a “b” rating to a “c+” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $92.00 price target on shares of Medtronic in a research report on Wednesday, February 14th.
In other news, SVP Carol A. Surface sold 24,479 shares of Medtronic stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $78.18, for a total value of $1,913,768.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director James T. Lenehan sold 1,306 shares of Medtronic stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $83.56, for a total value of $109,129.36. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. We Are One Seven LLC bought a new stake in shares of Medtronic during the fourth quarter valued at approximately $104,000. Blue Chip Partners Inc. bought a new stake in shares of Medtronic during the third quarter valued at approximately $118,000. BB&T Investment Services Inc. boosted its position in shares of Medtronic by 147.6% during the fourth quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock valued at $126,000 after purchasing an additional 905 shares in the last quarter. Barrett Asset Management LLC boosted its position in shares of Medtronic by 856.0% during the fourth quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock valued at $147,000 after purchasing an additional 1,635 shares in the last quarter. Finally, SevenBridge Financial Group LLC boosted its position in shares of Medtronic by 76.2% during the third quarter. SevenBridge Financial Group LLC now owns 2,197 shares of the medical technology company’s stock valued at $171,000 after purchasing an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.
Shares of NYSE MDT traded down $0.10 during trading hours on Friday, reaching $79.90. 3,690,928 shares of the stock traded hands, compared to its average volume of 4,645,961. The stock has a market cap of $108,294.30, a price-to-earnings ratio of 17.37, a P/E/G ratio of 2.38 and a beta of 0.94. The company has a current ratio of 2.43, a quick ratio of 2.09 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 announced its quarterly earnings data on Tuesday, February 20th. The medical technology company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.01. The company had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.20 billion. Medtronic had a return on equity of 12.65% and a net margin of 9.44%. Medtronic’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. analysts forecast that Medtronic will post 4.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Friday, March 23rd were given a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.30%. Medtronic’s dividend payout ratio is currently 40.00%.
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Medtronic plc manufactures and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. The company's Cardiac and Vascular Group segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; diagnostics and monitoring devices; mechanical circulatory support, TYRX, and AF products; and remote monitoring and patient-centered software.
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