Medtronic PLC (NYSE:MDT) has received an average rating of “Hold” from the twenty-six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $87.33.
MDT has been the topic of several recent research reports. BidaskClub downgraded Medtronic PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Deutsche Bank AG set a $96.00 price objective on Medtronic PLC and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research downgraded Medtronic PLC from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $103.00 price objective on shares of Medtronic PLC in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $90.00 price objective on shares of Medtronic PLC in a report on Monday, August 21st.
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In related news, CEO Omar Ishrak sold 140,407 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $81.63, for a total value of $11,461,423.41. Following the completion of the sale, the chief executive officer now directly owns 668,503 shares of the company’s stock, valued at approximately $54,569,899.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,264,320.00. The disclosure for this sale can be found here. Insiders sold a total of 172,407 shares of company stock valued at $13,974,223 over the last ninety days. 0.31% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Medtronic PLC by 2,513.4% during the 1st quarter. BlackRock Inc. now owns 87,035,376 shares of the medical technology company’s stock valued at $7,011,571,000 after purchasing an additional 83,705,052 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Medtronic PLC by 1,061.4% during the 1st quarter. Lazard Asset Management LLC now owns 13,678,772 shares of the medical technology company’s stock valued at $1,101,960,000 after purchasing an additional 12,500,992 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Medtronic PLC during the 3rd quarter valued at about $579,952,000. Vanguard Group Inc. boosted its stake in Medtronic PLC by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 102,321,656 shares of the medical technology company’s stock valued at $8,243,034,000 after purchasing an additional 4,412,536 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Medtronic PLC by 135.5% during the 2nd quarter. Alliancebernstein L.P. now owns 6,070,160 shares of the medical technology company’s stock valued at $538,727,000 after purchasing an additional 3,493,058 shares during the last quarter. 81.14% of the stock is owned by institutional investors and hedge funds.
Medtronic PLC (MDT) traded up $3.76 during midday trading on Thursday, hitting $82.66. The company had a trading volume of 11,003,793 shares, compared to its average volume of 4,934,208. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.40 and a current ratio of 1.64. 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 $106,880.00, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 2.16 and a beta of 1.00.
Medtronic PLC (NYSE:MDT) last released its quarterly earnings data on Tuesday, November 21st. The medical technology company reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.08. Medtronic PLC had a return on equity of 12.92% and a net margin of 13.75%. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter last year, the business posted $1.12 EPS. Medtronic PLC’s revenue for the quarter was down 4.0% on a year-over-year basis. equities research analysts anticipate that Medtronic PLC will post 4.7 EPS for the current year.
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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