Medtronic Receives Consensus Rating of “Buy” from Brokerages (NYSE:MDT)
Shares of Medtronic (NYSE:MDT) have been given an average recommendation of “Buy” by the nineteen brokerages that are currently covering the company, AnalystRatings.Net reports. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $68.24.
MDT has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Medtronic in a research note on Monday, August 18th. They now have a $71.00 price target on the stock, up previously from $69.00. Separately, analysts at Cowen and Company raised their price target on shares of Medtronic from $66.00 to $76.00 in a research note on Monday, August 18th. Finally, analysts at Jefferies Group upgraded shares of Medtronic from a “hold” rating to a “buy” rating in a research note on Friday, June 20th. They now have a $75.00 price target on the stock, up previously from $60.00.
Medtronic (NYSE:MDT) opened at 63.8315 on Monday. Medtronic has a one year low of $51.22 and a one year high of $65.50. The stock has a 50-day moving average of $62.89 and a 200-day moving average of $60.63. The company has a market cap of $63.359 billion and a price-to-earnings ratio of 21.50.
Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 19th. The company reported $0.93 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.01. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Medtronic will post $4.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 24th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, October 1st.
Medtronic, Inc (NYSE:MDT) is engaged in medical technology – alleviating pain, restoring health, and extending life for millions of people worldwide.
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