Shares of Medtronic PLC (NYSE:MDT) have been assigned an average rating of “Buy” from the twenty-two ratings firms that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $117.35.
Several equities analysts have weighed in on the company. Stifel Nicolaus lifted their price objective on Medtronic from $95.00 to $112.00 and gave the company a “hold” rating in a report on Wednesday, August 21st. Cowen reiterated an “outperform” rating and set a $111.00 target price (up from $99.00) on shares of Medtronic in a research report on Wednesday, August 14th. Deutsche Bank boosted their price target on Medtronic from $118.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada upped their price objective on shares of Medtronic from $118.00 to $122.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Finally, Wells Fargo & Co increased their price objective on shares of Medtronic from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 21st.
NYSE MDT opened at $113.09 on Friday. The firm has a 50-day moving average price of $109.15 and a two-hundred day moving average price of $103.83. Medtronic has a 12-month low of $81.66 and a 12-month high of $114.46. The company has a market capitalization of $151.58 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.74 and a beta of 0.60. The company has a quick ratio of 2.28, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.
Medtronic (NYSE:MDT) last announced its earnings results on Tuesday, November 19th. The medical technology company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.66 billion. Medtronic had a net margin of 15.11% and a return on equity of 14.52%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Equities analysts expect that Medtronic will post 5.6 EPS for the current year.
In other news, EVP Robert John White sold 52,165 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $109.33, for a total transaction of $5,703,199.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael J. Coyle sold 2,102 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $109.77, for a total value of $230,736.54. Following the transaction, the executive vice president now owns 189,162 shares of the company’s stock, valued at $20,764,312.74. The disclosure for this sale can be found here. Insiders sold a total of 210,735 shares of company stock worth $22,901,472 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its stake in shares of Medtronic by 12,846.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,157,866 shares of the medical technology company’s stock valued at $794,495,000 after acquiring an additional 8,094,852 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in shares of Medtronic by 46.0% during the second quarter. Longview Partners Guernsey LTD now owns 8,843,721 shares of the medical technology company’s stock valued at $861,290,000 after purchasing an additional 2,787,443 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Medtronic during the second quarter valued at about $214,895,000. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Medtronic by 9.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,499,865 shares of the medical technology company’s stock valued at $1,412,142,000 after purchasing an additional 1,251,830 shares during the period. Finally, Boston Partners boosted its position in shares of Medtronic by 14.9% during the 2nd quarter. Boston Partners now owns 9,655,784 shares of the medical technology company’s stock worth $940,555,000 after purchasing an additional 1,250,545 shares in the last quarter. Hedge funds and other institutional investors own 80.59% of the company’s stock.
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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