Medtronic PLC (NYSE: MDT) has recently received a number of price target changes and ratings updates:

  • 10/10/2017 – Medtronic PLC had its price target lowered by analysts at Needham & Company LLC from $95.00 to $94.00. They now have a “buy” rating on the stock.
  • 10/10/2017 – Medtronic PLC had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $89.00 price target on the stock, down previously from $92.00.
  • 10/9/2017 – Medtronic PLC was downgraded by analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating. They now have a $83.00 price target on the stock, down previously from $93.00.
  • 10/9/2017 – Medtronic PLC had its price target lowered by analysts at Royal Bank Of Canada from $90.00 to $85.00. They now have an “outperform” rating on the stock.
  • 10/9/2017 – Medtronic PLC had its price target lowered by analysts at Stifel Nicolaus from $91.00 to $83.00. They now have a “hold” rating on the stock.
  • 10/9/2017 – Medtronic PLC had its “market perform” rating reaffirmed by analysts at Leerink Swann. They now have a $85.00 price target on the stock, down previously from $88.00.
  • 10/2/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $96.00 price target on the stock.
  • 9/28/2017 – Medtronic PLC had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $96.00 price target on the stock.
  • 9/12/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Over the last three months, Medtronic has been observed to underperform the broader industry. We note that, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag. On a positive note,  we observe that apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of regulatory approval from the Japanese MHLW for its IN.PACT Admiral Drug-Coated Balloon. The stabilizing trend in the global Cardiac Rhythm & Heart Failure (CRHF) market is another upside. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies.”
  • 9/6/2017 – Medtronic PLC was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of CE Mark for Attain Stability Quad MRI SureScan Active-Fixation heart lead. The stabilizing trend in the global Cardiac Rhythm & Heart Failure (CRHF) market is another upside. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies. However, over the last three months, Medtronic has been observed to underperform the broader industry. We note that, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag.”
  • 8/26/2017 – Medtronic PLC was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/25/2017 – Medtronic PLC was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Medtronic exited the fiscal first quarter on a mixed note. Although earnings exceeded the Zacks Consensus Estimate, revenues lagged the same. Over the last three months, Medtronic has been observed to underperform the broader industry. Moreover, escalating costs and expenses are weighing on margins. Also, unfavorable foreign exchange continues to remain a drag. On a positive note, apart from displaying successful integration and achievement of synergy targets, Medtronic’s major business groups continue to contribute to top-line growth which highlighted sustainability across all segments and geographies. Recently, the company announced the receipt of CE Mark for Attain Stability Quad MRI SureScan Active-Fixation heart lead. We are also encouraged by the solid growth trend, continuing in the U.S. as well as the healthy global acceptance of its advanced therapies.”
  • 8/24/2017 – Medtronic PLC had its “overweight” rating reaffirmed by analysts at UBS AG.

Medtronic PLC (NYSE MDT) opened at 78.34 on Monday. The company has a market capitalization of $106.12 billion, a P/E ratio of 26.37 and a beta of 1.01. Medtronic PLC has a 52-week low of $69.35 and a 52-week high of $89.72. The stock’s 50 day moving average is $79.37 and its 200-day moving average is $83.11.

Medtronic PLC (NYSE:MDT) last announced its quarterly earnings results on Tuesday, August 22nd. The medical technology company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Medtronic PLC had a net margin of 13.75% and a return on equity of 12.92%. The firm had revenue of $7.39 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. Analysts predict that Medtronic PLC will post $4.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, September 29th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.84 annualized dividend and a yield of 2.35%. Medtronic PLC’s dividend payout ratio (DPR) is 61.95%.

In related news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $78.03, for a total transaction of $1,248,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Omar Ishrak sold 140,407 shares of the business’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 transaction of $11,461,423.41. Following the sale, the chief executive officer now owns 668,503 shares of the company’s stock, valued at $54,569,899.89. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.

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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