Medtronic’s (MDT) Buy Rating Reaffirmed at Oppenheimer
A number of other analysts have also recently commented on the stock. Citigroup reiterated a buy rating and issued a $93.00 target price (down from $100.00) on shares of Medtronic in a research note on Thursday, February 22nd. TheStreet cut shares of Medtronic from a b rating to a c+ rating in a research note on Tuesday, February 20th. Royal Bank of Canada reiterated an outperform rating and issued a $92.00 target price on shares of Medtronic in a research note on Wednesday, February 14th. Morgan Stanley lifted their price objective on shares of Medtronic from $91.00 to $95.00 and gave the company an equal weight rating in a research note on Monday, February 5th. Finally, Evercore ISI initiated coverage on shares of Medtronic in a research note on Wednesday, January 3rd. They set an outperform rating and a $92.50 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $91.50.
Shares of Medtronic (MDT) opened at $79.90 on Tuesday. The company has a market cap of $108,606.04, a P/E ratio of 39.36, a P/E/G ratio of 2.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.43 and a quick ratio of 2.09. Medtronic has a 12 month low of $76.51 and a 12 month high of $89.72.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 23rd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Thursday, March 22nd. Medtronic’s dividend payout ratio is currently 90.64%.
In related news, VP Richard Kuntz sold 78,526 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $86.21, for a total value of $6,769,726.46. Following the completion of the transaction, the vice president now directly owns 149,761 shares in the company, valued at approximately $12,910,895.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Carol A. Surface sold 24,479 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $78.18, for a total transaction of $1,913,768.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,469 shares of company stock valued at $11,016,054. Company insiders own 0.31% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. We Are One Seven LLC acquired a new position in shares of Medtronic in the 4th quarter valued at $104,000. Quadrant Capital Group LLC increased its holdings in Medtronic by 21.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,639 shares of the medical technology company’s stock worth $114,000 after acquiring an additional 290 shares in the last quarter. Blue Chip Partners Inc. purchased a new stake in Medtronic in the 3rd quarter worth $118,000. BB&T Investment Services Inc. increased its holdings in Medtronic by 147.6% in the 4th quarter. BB&T Investment Services Inc. now owns 1,518 shares of the medical technology company’s stock worth $126,000 after acquiring an additional 905 shares in the last quarter. Finally, Barrett Asset Management LLC increased its holdings in Medtronic by 856.0% in the 4th quarter. Barrett Asset Management LLC now owns 1,826 shares of the medical technology company’s stock worth $147,000 after acquiring an additional 1,635 shares in the last quarter. Hedge funds and other institutional investors own 81.19% of the company’s stock.
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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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