Medtronic PLC (NYSE:MDT) has received a consensus rating of “Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $102.50.
MDT has been the topic of several research reports. Zacks Investment Research raised Medtronic from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, October 23rd. ValuEngine raised Medtronic from a “hold” rating to a “buy” rating in a research report on Friday, September 7th. Citigroup raised their price objective on Medtronic from $104.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, August 24th. SunTrust Banks raised their price objective on Medtronic to $110.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Finally, Argus raised their price objective on Medtronic from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, October 8th.
In related news, EVP Hooman Hakami sold 26,159 shares of Medtronic stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $96.29, for a total value of $2,518,850.11. Following the completion of the transaction, the executive vice president now directly owns 63,046 shares in the company, valued at $6,070,699.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The stock was purchased at an average price of $95.88 per share, with a total value of $249,288.00. The disclosure for this purchase can be found here. Insiders have sold 268,678 shares of company stock valued at $25,818,353 over the last 90 days. Insiders own 0.28% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. grew its stake in Medtronic by 11.1% in the second quarter. Point72 Asset Management L.P. now owns 823,622 shares of the medical technology company’s stock worth $70,510,000 after purchasing an additional 82,423 shares in the last quarter. Affiance Financial LLC lifted its holdings in Medtronic by 18.6% in the second quarter. Affiance Financial LLC now owns 8,080 shares of the medical technology company’s stock worth $692,000 after acquiring an additional 1,268 shares during the last quarter. Royal London Asset Management Ltd. bought a new position in Medtronic in the second quarter worth about $49,276,000. AdvisorNet Financial Inc lifted its holdings in Medtronic by 11.2% in the second quarter. AdvisorNet Financial Inc now owns 39,991 shares of the medical technology company’s stock worth $3,424,000 after acquiring an additional 4,038 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its holdings in Medtronic by 60.2% in the second quarter. WINTON GROUP Ltd now owns 99,746 shares of the medical technology company’s stock worth $8,539,000 after acquiring an additional 37,482 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
Shares of MDT traded down $0.08 during trading hours on Thursday, hitting $91.53. The stock had a trading volume of 18,270 shares, compared to its average volume of 5,365,412. The company has a current ratio of 2.46, a quick ratio of 2.06 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $123.46 billion, a P/E ratio of 19.25, a price-to-earnings-growth ratio of 2.43 and a beta of 0.94. Medtronic has a 12-month low of $76.41 and a 12-month high of $100.15.
Medtronic (NYSE:MDT) last issued its earnings results on Tuesday, August 21st. The medical technology company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.24 billion. Medtronic had a return on equity of 12.98% and a net margin of 10.56%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the company posted $1.12 EPS. Sell-side analysts predict that Medtronic will post 5.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, September 28th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, September 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.19%. Medtronic’s dividend payout ratio is presently 41.93%.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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