A number of firms have modified their ratings and price targets on shares of Medtronic PLC (NYSE: MDT) recently:

  • 8/26/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/25/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Medtronic exited the fiscal first quarter on a mixed note. Although earnings exceeded the Zacks Consensus Estimate, revenues lagged the same. Over the last three months, Medtronic has been observed to underperform the broader industry. Moreover, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag. On a positive note, apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of CE Mark for Attain Stability Quad MRI SureScan Active-Fixation heart lead. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies.”
  • 8/24/2017 – Medtronic PLC had its “overweight” rating reaffirmed by analysts at UBS AG.
  • 8/23/2017 – Medtronic PLC had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $92.00 price target on the stock, down previously from $94.00.
  • 8/23/2017 – Medtronic PLC had its price target lowered by analysts at Barclays PLC from $94.00 to $92.00. They now have an “overweight” rating on the stock.
  • 8/23/2017 – Medtronic PLC had its price target lowered by analysts at Jefferies Group LLC from $103.00 to $96.00. They now have a “buy” rating on the stock.
  • 8/22/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $92.00 price target on the stock.
  • 8/22/2017 – Medtronic PLC was given a new $95.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 8/21/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $90.00 price target on the stock.
  • 8/11/2017 – Medtronic PLC was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/5/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/3/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $103.00 price target on the stock.
  • 7/31/2017 – Medtronic PLC was given a new $96.00 price target on by analysts at Deutsche Bank AG. They now have a “buy” rating on the stock.
  • 7/31/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last three months, Medtronic has been observed to outperform the broader industry. All of its major business groups continue to contribute to solid top-line growth which highlighted sustainability across groups and regions, in addition to displaying successful integration and achievement of synergy targets. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies. Apart from product innovation, Medtronic is focusing on geographical diversification of business. An impressive fiscal 2018 guidance also indicates continuance of this strong run going ahead. The company's last reported fourth quarter fiscal 2017 earnings were also impressive. Yet, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag.”
  • 7/24/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/18/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 7/12/2017 – Medtronic PLC had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 7/6/2017 – Medtronic PLC had its “outperform” rating reaffirmed by analysts at William Blair.

Medtronic PLC (MDT) opened at 79.59 on Tuesday. The firm has a 50-day moving average price of $84.48 and a 200 day moving average price of $83.39. The firm has a market capitalization of $108.39 billion, a P/E ratio of 26.79 and a beta of 1.02. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Medtronic PLC will post $4.77 EPS for the current year.

In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard H. Anderson purchased 5,600 shares of Medtronic PLC stock in a transaction on Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the transaction, the director now directly owns 71,910 shares of the company’s stock, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is owned by insiders.

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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