Medtronic (MDT) Price Target Raised to $94.00 at BMO Capital Markets
Medtronic (NYSE:MDT) had its price target upped by BMO Capital Markets to $94.00 in a research note published on Tuesday. They currently have an outperform rating on the medical technology company’s stock.
Other equities analysts have also issued reports about the company. Cowen set a $95.00 price objective on Medtronic and gave the stock a buy rating in a research note on Tuesday, August 22nd. Oppenheimer reiterated a buy rating and issued a $92.00 target price on shares of Medtronic in a report on Tuesday, August 22nd. Royal Bank of Canada reiterated a buy rating and issued a $90.00 target price on shares of Medtronic in a report on Monday, August 21st. Jefferies Group lowered their target price on Medtronic from $103.00 to $96.00 and set a buy rating for the company in a report on Wednesday, August 23rd. Finally, SunTrust Banks reiterated a buy rating and issued a $96.00 target price on shares of Medtronic in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $88.57.
Medtronic (MDT) traded up $0.73 during trading on Tuesday, hitting $82.00. The company had a trading volume of 4,966,500 shares, compared to its average volume of 4,952,854. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.05 and a current ratio of 2.40. The firm has a market capitalization of $109,998.77, a price-to-earnings ratio of 17.51, a P/E/G ratio of 2.24 and a beta of 1.00. Medtronic has a one year low of $69.35 and a one year high of $89.72.
Medtronic (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a return on equity of 12.63% and a net margin of 16.93%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 earnings per share. analysts predict that Medtronic will post 4.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.84 annualized dividend and a dividend yield of 2.24%. Medtronic’s dividend payout ratio is 50.41%.
In related news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,407 shares of company stock valued at $13,974,223. Corporate insiders own 0.31% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Medtronic by 2.4% in the second quarter. Vanguard Group Inc. now owns 104,776,036 shares of the medical technology company’s stock worth $9,298,872,000 after purchasing an additional 2,454,380 shares during the last quarter. BlackRock Inc. boosted its position in Medtronic by 2.8% in the second quarter. BlackRock Inc. now owns 89,512,229 shares of the medical technology company’s stock worth $7,944,210,000 after purchasing an additional 2,476,853 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Medtronic by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 58,646,070 shares of the medical technology company’s stock worth $4,724,526,000 after purchasing an additional 1,729,715 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Medtronic by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 23,853,034 shares of the medical technology company’s stock worth $1,855,050,000 after purchasing an additional 269,814 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Medtronic by 43.8% in the second quarter. Lazard Asset Management LLC now owns 19,669,866 shares of the medical technology company’s stock worth $1,745,699,000 after purchasing an additional 5,991,094 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Medtronic Company Profile
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.
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