Medtronic PLC (NYSE:MDT) has been assigned a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the firm, MarketBeat.com reports. 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 average 12 month target price among brokers that have issued a report on the stock in the last year is $87.53.

A number of equities research analysts have issued reports on MDT shares. BidaskClub downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Royal Bank Of Canada lowered their price target on Medtronic PLC from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, October 9th. Jefferies Group LLC reissued a “buy” rating and set a $103.00 price target on shares of Medtronic PLC in a research report on Thursday, August 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $89.00 price target (down previously from $92.00) on shares of Medtronic PLC in a research report on Tuesday, October 10th.

Shares of Medtronic PLC (NYSE:MDT) traded down 0.18% during trading on Friday, reaching $78.34. The company had a trading volume of 4,173,780 shares. The firm has a 50-day moving average of $79.37 and a 200 day moving average of $83.11. Medtronic PLC has a 52 week low of $69.35 and a 52 week high of $89.72. The firm has a market capitalization of $106.12 billion, a price-to-earnings ratio of 26.37 and a beta of 1.01.

Medtronic PLC (NYSE:MDT) last posted its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.04. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Medtronic PLC will post $4.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 28th. Medtronic PLC’s dividend payout ratio is currently 61.95%.

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In other Medtronic PLC news, EVP Bryan C. Hanson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Omar Ishrak sold 140,407 shares of the company’s stock in a transaction that occurred 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 owns 668,503 shares in the company, valued at approximately $54,569,899.89. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust raised its stake in Medtronic PLC by 22.4% during the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock valued at $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Medtronic PLC during the second quarter valued at approximately $103,000. Motco raised its stake in Medtronic PLC by 8.7% during the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares in the last quarter. Farmers National Bank acquired a new stake in Medtronic PLC during the first quarter valued at approximately $121,000. Finally, Norway Savings Bank raised its stake in Medtronic PLC by 2.7% during the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock valued at $127,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.60% 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.

Analyst Recommendations for Medtronic PLC (NYSE:MDT)

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