Medtronic plc. (MDT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Medtronic plc. (NYSE:MDT) have been given an average recommendation of “Buy” by the twenty-six brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $89.11.

Several research firms recently issued reports on MDT. Stifel Nicolaus boosted their target price on shares of Medtronic from $83.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, November 22nd. Oppenheimer restated a “buy” rating and issued a $94.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Northland Securities restated a “hold” rating and issued a $80.00 target price on shares of Medtronic in a report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Medtronic from a “sell” rating to a “hold” rating in a report on Thursday, November 23rd. Finally, Jefferies Group restated a “buy” rating and issued a $99.00 target price on shares of Medtronic in a report on Thursday, November 23rd.

In other news, EVP Bryan C. Hanson sold 16,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $79.02, for a total transaction of $1,264,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 48,000 shares of company stock valued at $3,837,920. Insiders own 0.31% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Washington Trust Bank increased its position in shares of Medtronic by 1.5% during the fourth quarter. Washington Trust Bank now owns 82,908 shares of the medical technology company’s stock worth $6,695,000 after acquiring an additional 1,242 shares in the last quarter. Prudential Financial Inc. grew its position in Medtronic by 1.6% in the 3rd quarter. Prudential Financial Inc. now owns 3,308,500 shares of the medical technology company’s stock worth $257,302,000 after purchasing an additional 53,474 shares in the last quarter. Atlantic Trust Group LLC grew its position in Medtronic by 1.3% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,814,879 shares of the medical technology company’s stock worth $141,142,000 after purchasing an additional 22,992 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Medtronic by 7.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,208,053 shares of the medical technology company’s stock worth $171,720,000 after purchasing an additional 154,332 shares in the last quarter. Finally, AXA grew its position in Medtronic by 4.3% in the 3rd quarter. AXA now owns 702,275 shares of the medical technology company’s stock worth $54,616,000 after purchasing an additional 28,709 shares in the last quarter. 81.72% of the stock is owned by institutional investors.

Medtronic (NYSE:MDT) traded up $0.20 during mid-day trading on Friday, reaching $84.12. 5,943,100 shares of the company traded hands, compared to its average volume of 5,868,500. The firm has a market capitalization of $113,860.00, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99. The company has a current ratio of 2.40, a quick ratio of 2.05 and a debt-to-equity ratio of 0.50. Medtronic has a 1-year low of $70.59 and a 1-year high of $89.72.

Medtronic (NYSE:MDT) last released its earnings results on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.08. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $7.05 billion. Medtronic had a net margin of 16.93% and a return on equity of 12.63%. Medtronic’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share. equities analysts anticipate that Medtronic will post 4.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 29th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, December 28th. Medtronic’s dividend payout ratio (DPR) is currently 50.55%.

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Medtronic 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 (NYSE:MDT)

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