SunTrust Banks, Inc. Analysts Give Medtronic PLC (MDT) a $92.00 Price Target
Other analysts have also issued research reports about the stock. Jefferies Group LLC dropped their price objective on shares of Medtronic PLC from $103.00 to $96.00 and set a buy rating for the company in a report on Wednesday, August 23rd. 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. BidaskClub lowered shares of Medtronic PLC from a strong-buy rating to a buy rating in a report on Monday, July 24th. Cowen and Company set a $95.00 price objective on shares of Medtronic PLC and gave the stock a buy rating in a report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $92.00 price objective on shares of Medtronic PLC in a report on Tuesday, August 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $87.69.
Shares of Medtronic PLC (NYSE:MDT) opened at $82.66 on Friday. The firm has a market cap of $106,880.00, a P/E ratio of 16.95, a PEG ratio of 2.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. Medtronic PLC has a fifty-two week low of $69.35 and a fifty-two week high of $89.72.
Medtronic PLC (NYSE:MDT) last posted its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.08. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $7.05 billion. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.12 earnings per share. equities research analysts forecast that Medtronic PLC will post 4.7 EPS for the current year.
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In other Medtronic PLC news, CEO Omar Ishrak sold 140,407 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 668,503 shares in the company, valued at $54,569,899.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Bryan C. Hanson sold 16,000 shares of the stock in a transaction on Thursday, November 16th. The stock was 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. Over the last quarter, insiders sold 172,407 shares of company stock worth $13,974,223. Company insiders own 0.31% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MDT. BlackRock Inc. raised its holdings in Medtronic PLC by 2,513.4% in the first quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock worth $7,011,571,000 after purchasing an additional 83,705,052 shares during the period. Lazard Asset Management LLC raised its holdings in Medtronic PLC by 1,061.4% in the first quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock worth $1,101,960,000 after purchasing an additional 12,500,992 shares during the period. Janus Henderson Group PLC acquired a new stake in Medtronic PLC in the third quarter worth $579,952,000. Vanguard Group Inc. raised its holdings in shares of Medtronic PLC by 4.5% during the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock worth $8,243,034,000 after acquiring an additional 4,412,536 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Medtronic PLC by 135.5% during the second quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock worth $538,727,000 after acquiring an additional 3,493,058 shares during the period. Institutional investors own 81.14% of the company’s stock.
About Medtronic PLC
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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