Medtronic PLC (MDT) Receives $88.25 Consensus PT from Analysts
Shares of Medtronic PLC (NYSE:MDT) have earned a consensus rating of “Hold” from the twenty-five brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $88.25.
Several analysts recently commented on the stock. BidaskClub upgraded shares of Medtronic PLC from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Jefferies Group LLC restated a “buy” rating and set a $96.00 price target on shares of Medtronic PLC in a report on Thursday. Zacks Investment Research cut shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. UBS AG reaffirmed an “overweight” rating on shares of Medtronic PLC in a research report on Thursday, August 24th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $92.00 price objective on shares of Medtronic PLC in a research report on Tuesday, August 22nd.
Medtronic PLC (NYSE:MDT) traded up 0.08% during midday trading on Wednesday, hitting $77.77. 6,186,201 shares of the stock traded hands. The company has a 50-day moving average price of $82.04 and a 200-day moving average price of $83.67. The firm has a market cap of $105.35 billion, a P/E ratio of 26.18 and a beta of 1.03. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Analysts predict that Medtronic PLC will post $4.77 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 29th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, September 28th. Medtronic PLC’s dividend payout ratio (DPR) is currently 61.95%.
In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $81.63, for a total transaction of $11,461,423.41. Following the transaction, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted its stake in Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Medtronic PLC during the second quarter worth $103,000. Motco boosted its stake in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock worth $110,000 after buying an additional 99 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Medtronic PLC by 21.5% during the second quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after buying an additional 290 shares in the last quarter. Finally, Israel Discount Bank of New York acquired a new stake in Medtronic PLC during the first quarter worth $117,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.
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Medtronic PLC 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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