Medtronic PLC (NYSE:MDT) has earned an average recommendation of “Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $92.58.
Several research firms have recently commented on MDT. Sanford C. Bernstein began coverage on Medtronic in a research report on Wednesday, June 27th. They issued a “market perform” rating and a $88.00 price target for the company. TheStreet raised Medtronic from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Oppenheimer set a $96.00 price target on Medtronic and gave the stock a “buy” rating in a research report on Wednesday, June 6th. Piper Jaffray Companies began coverage on Medtronic in a research report on Friday, April 27th. They issued an “overweight” rating and a $90.00 price target for the company. Finally, SunTrust Banks boosted their price target on Medtronic to $96.00 and gave the stock a “buy” rating in a research report on Monday, May 21st.
In other Medtronic news, SVP Bradley E. Lerman sold 8,910 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $86.82, for a total transaction of $773,566.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard Kuntz sold 11,500 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $87.13, for a total value of $1,001,995.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its stake in Medtronic by 16.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 63,710 shares of the medical technology company’s stock valued at $5,145,000 after purchasing an additional 9,089 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Medtronic by 7.6% in the first quarter. Daiwa Securities Group Inc. now owns 46,439 shares of the medical technology company’s stock worth $3,725,000 after buying an additional 3,279 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Medtronic by 74.7% in the first quarter. BB&T Securities LLC now owns 399,843 shares of the medical technology company’s stock worth $32,075,000 after buying an additional 170,973 shares during the last quarter. Folger Hill Asset Management LP purchased a new stake in shares of Medtronic in the fourth quarter worth about $1,825,000. Finally, Cohen Capital Management Inc. purchased a new stake in shares of Medtronic in the first quarter worth about $5,522,000. Institutional investors and hedge funds own 80.45% of the company’s stock.
Shares of Medtronic traded down $0.05, hitting $85.98, during trading hours on Friday, according to MarketBeat. The company had a trading volume of 3,002,456 shares, compared to its average volume of 4,876,656. The firm has a market cap of $116.29 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 2.35 and a beta of 0.95. The company has a current ratio of 2.28, a quick ratio of 1.92 and a debt-to-equity ratio of 0.47. Medtronic has a one year low of $76.41 and a one year high of $89.10.
Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 24th. The medical technology company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.03. The firm had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8 billion. Medtronic had a return on equity of 12.84% and a net margin of 10.36%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. equities research analysts forecast that Medtronic will post 5.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Shareholders of record on Friday, July 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, July 5th. This is an increase from Medtronic’s previous quarterly dividend of $0.46. Medtronic’s payout ratio is presently 38.57%.
Medtronic Company Profile
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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