Medtronic PLC (NYSE:MDT) Given Consensus Rating of “Hold” by Brokerages
Shares of Medtronic PLC (NYSE:MDT) have been given an average rating of “Hold” by the twenty-seven analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $89.58.
A number of research analysts have commented on MDT shares. BidaskClub raised shares of Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Cowen and Company restated an “outperform” rating and issued a $95.00 price target (up from $86.00) on shares of Medtronic PLC in a report on Sunday, May 28th. CIBC restated a “buy” rating on shares of Medtronic PLC in a report on Friday, May 26th. Jefferies Group LLC restated a “buy” rating and issued a $103.00 price target on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Medtronic PLC in a report on Tuesday, May 16th. They issued a “neutral” rating and a $87.00 price target on the stock.
Medtronic PLC (MDT) traded down 0.64% during trading on Tuesday, hitting $83.83. 3,816,734 shares of the company’s stock were exchanged. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The firm has a 50 day moving average price of $86.89 and a 200 day moving average price of $82.57. The company has a market cap of $113.93 billion, a price-to-earnings ratio of 29.01 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, May 25th. The medical technology company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The business had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. On average, equities research analysts predict that Medtronic PLC will post $4.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date was Wednesday, July 5th. This is a positive change from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s payout ratio is presently 63.67%.
In related news, EVP Bryan C. Hanson sold 12,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Anderson purchased 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average cost of $88.90 per share, with a total value of $497,840.00. Following the acquisition, the director now owns 71,910 shares in the company, valued at approximately $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of MDT. BlackRock Inc. boosted its stake in shares of 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 valued at $7,011,571,000 after buying an additional 83,705,052 shares during the period. Lazard Asset Management LLC boosted its stake in shares of 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 valued at $1,101,960,000 after buying an additional 12,500,992 shares during the period. Vanguard Group Inc. boosted its stake in shares of Medtronic PLC by 4.5% in the first quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after buying an additional 4,412,536 shares during the period. Sanders Capital LLC boosted its stake in shares of Medtronic PLC by 43.7% in the second quarter. Sanders Capital LLC now owns 6,670,948 shares of the medical technology company’s stock valued at $651,800,000 after buying an additional 2,027,147 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Medtronic PLC by 18.9% in the first quarter. Wells Fargo & Company MN now owns 11,932,572 shares of the medical technology company’s stock valued at $961,288,000 after buying an additional 1,895,386 shares during the period. 83.36% of the stock is owned by institutional investors.
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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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