Medtronic PLC (MDT) Stock Rating Reaffirmed by Royal Bank Of Canada
Medtronic PLC (NYSE:MDT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a report released on Monday. They currently have a $90.00 price objective on the medical technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 7.90% from the company’s current price.
Several other brokerages have also recently issued reports on MDT. BidaskClub upgraded Medtronic PLC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Cowen and Company reissued an “outperform” rating and set a $95.00 price objective (up from $86.00) on shares of Medtronic PLC in a research note on Sunday, May 28th. CIBC reissued a “buy” rating on shares of Medtronic PLC in a research note on Friday, May 26th. Jefferies Group LLC reissued a “buy” rating and set a $103.00 price objective on shares of Medtronic PLC in a research note on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) started coverage on Medtronic PLC in a research note on Tuesday, May 16th. They set a “neutral” rating and a $87.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. Medtronic PLC has a consensus rating of “Hold” and an average target price of $90.07.
Medtronic PLC (NYSE:MDT) opened at 83.02 on Monday. The stock has a 50 day moving average price of $85.48 and a 200-day moving average price of $83.22. Medtronic PLC has a 12-month low of $69.35 and a 12-month high of $89.72. The firm has a market cap of $112.83 billion, a price-to-earnings ratio of 28.73 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last issued its quarterly earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.02. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. The company had revenue of $7.92 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the firm earned $1.27 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts forecast that Medtronic PLC will post $4.80 earnings per share for the current year.
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In other news, Director Richard H. Anderson acquired 5,600 shares of Medtronic PLC stock in a transaction that occurred on Wednesday, June 21st. The stock was purchased at an average price of $88.90 per share, with a total value of $497,840.00. Following the completion of the transaction, the director now owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bryan C. Hanson sold 12,000 shares of Medtronic PLC 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 disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. WFG Advisors LP raised its position in Medtronic PLC by 29.3% in the second quarter. WFG Advisors LP now owns 16,507 shares of the medical technology company’s stock valued at $1,465,000 after buying an additional 3,742 shares during the period. Toronto Dominion Bank raised its position in Medtronic PLC by 25.5% in the second quarter. Toronto Dominion Bank now owns 463,775 shares of the medical technology company’s stock valued at $41,152,000 after buying an additional 94,105 shares during the period. Archford Capital Strategies LLC raised its position in Medtronic PLC by 23.8% in the second quarter. Archford Capital Strategies LLC now owns 16,870 shares of the medical technology company’s stock valued at $1,315,000 after buying an additional 3,245 shares during the period. Family Management Corp raised its position in Medtronic PLC by 3.0% in the second quarter. Family Management Corp now owns 50,786 shares of the medical technology company’s stock valued at $4,507,000 after buying an additional 1,498 shares during the period. Finally, Cetera Investment Advisers bought a new position in Medtronic PLC during the second quarter valued at $414,000. Institutional investors own 83.54% of the company’s stock.
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.
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