Medtronic PLC’s (MDT) “Buy” Rating Reiterated at Jefferies Group LLC
Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $99.00 price target on the medical technology company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 20.23% from the company’s current price. Jefferies Group also issued estimates for Medtronic PLC’s Q4 2018 earnings at $1.40 EPS, FY2018 earnings at $4.77 EPS, Q1 2019 earnings at $1.22 EPS, Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.28 EPS, Q4 2019 earnings at $1.48 EPS, FY2019 earnings at $5.15 EPS, FY2020 earnings at $5.64 EPS and FY2021 earnings at $6.18 EPS.
A number of other equities analysts have also weighed in on MDT. Deutsche Bank AG set a $96.00 price objective on shares of Medtronic PLC and gave the stock a “buy” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. BidaskClub lowered shares of Medtronic PLC from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Royal Bank Of Canada restated a “buy” rating and issued a $90.00 price objective on shares of Medtronic PLC in a report on Monday, August 21st. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $92.00 price objective on shares of Medtronic PLC in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Medtronic PLC currently has an average rating of “Hold” and a consensus price target of $88.02.
Shares of Medtronic PLC (NYSE MDT) traded down $0.32 during midday trading on Thursday, reaching $82.34. 5,275,257 shares of the company were exchanged, compared to its average volume of 4,935,842. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The stock has a market cap of $111,970.49, a price-to-earnings ratio of 17.82, a P/E/G ratio of 2.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.40.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.08. Medtronic PLC had a net margin of 16.93% and a return on equity of 12.63%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. equities research analysts predict that Medtronic PLC will post 4.78 earnings per share for the current year.
In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of Medtronic PLC stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,407 shares of company stock valued at $13,974,223. 0.31% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. Crestwood Advisors Group LLC grew its position in shares of Medtronic PLC by 1.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 251,995 shares of the medical technology company’s stock valued at $19,598,000 after acquiring an additional 4,275 shares during the period. GSA Capital Partners LLP grew its position in shares of Medtronic PLC by 468.3% during the 3rd quarter. GSA Capital Partners LLP now owns 41,130 shares of the medical technology company’s stock valued at $3,199,000 after acquiring an additional 33,893 shares during the period. Gofen & Glossberg LLC IL grew its position in shares of Medtronic PLC by 9.2% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 7,599 shares of the medical technology company’s stock valued at $591,000 after acquiring an additional 642 shares during the period. Moors & Cabot Inc. grew its position in shares of Medtronic PLC by 10.2% during the 3rd quarter. Moors & Cabot Inc. now owns 47,640 shares of the medical technology company’s stock valued at $3,721,000 after acquiring an additional 4,413 shares during the period. Finally, Cetera Advisor Networks LLC grew its position in shares of Medtronic PLC by 3.2% during the 3rd quarter. Cetera Advisor Networks LLC now owns 22,171 shares of the medical technology company’s stock valued at $1,731,000 after acquiring an additional 683 shares during the period. 81.14% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Medtronic PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medtronic PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.