Headlines about Medtronic (NYSE:MDT) have been trending somewhat negative on Saturday, InfoTrie Sentiment Analysis reports. The research group ranks the sentiment of press coverage by reviewing more than 6,000 news and blog sources. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. Medtronic earned a daily sentiment score of -1.50 on their scale. InfoTrie also gave media stories about the medical technology company an news buzz score of 10 out of 10, meaning that recent press coverage is extremely likely to have an impact on the company’s share price in the near term.
These are some of the headlines that may have impacted Medtronic’s ranking:
A number of equities analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Medtronic from $110.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group reissued a “buy” rating and set a $117.00 target price on shares of Medtronic in a report on Friday. SVB Leerink boosted their price target on Medtronic from $100.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Wells Fargo & Co reduced their price target on Medtronic from $130.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Finally, Oppenheimer cut their target price on Medtronic from $131.00 to $112.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $115.37.
Shares of MDT traded down $0.69 during mid-day trading on Friday, reaching $94.72. The company had a trading volume of 6,501,853 shares, compared to its average volume of 5,176,174. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.28 and a current ratio of 2.13. The firm has a 50-day moving average price of $96.70 and a 200 day moving average price of $105.81. Medtronic has a 52 week low of $72.13 and a 52 week high of $122.15. The company has a market capitalization of $127.87 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.57 and a beta of 0.69.
Medtronic (NYSE:MDT) last announced its earnings results on Thursday, May 21st. The medical technology company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.70). The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.10 billion. Medtronic had a net margin of 16.56% and a return on equity of 12.17%. Medtronic’s quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, research analysts forecast that Medtronic will post 4.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Friday, June 26th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, June 25th. This is a positive change from Medtronic’s previous quarterly dividend of $0.54. Medtronic’s dividend payout ratio is presently 47.06%.
Medtronic Company Profile
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group.
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