Medtronic PLC (NYSE:MDT) Receives Consensus Rating of “Buy” from Analysts

Shares of Medtronic PLC (NYSE:MDT) have been given a consensus recommendation of “Buy” by the twenty-three research firms that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $103.90.

MDT has been the subject of a number of recent analyst reports. Oppenheimer set a $104.00 price target on shares of Medtronic and gave the company a “buy” rating in a report on Wednesday, February 20th. Wells Fargo & Co decreased their price target on shares of Medtronic from $101.00 to $100.00 and set a “market perform” rating for the company in a report on Thursday, April 4th. Citigroup upped their price target on shares of Medtronic from $95.00 to $101.00 and gave the company a “neutral” rating in a report on Monday, February 25th. Barclays restated a “buy” rating and set a $104.00 price target on shares of Medtronic in a report on Wednesday, February 20th. Finally, Northland Securities restated a “hold” rating and set a $84.00 price target on shares of Medtronic in a report on Monday, March 18th.

NYSE:MDT traded up $0.01 during trading hours on Friday, reaching $97.51. The company’s stock had a trading volume of 112,838 shares, compared to its average volume of 5,943,347. The stock has a market capitalization of $130.69 billion, a PE ratio of 18.68, a P/E/G ratio of 2.51 and a beta of 0.68. Medtronic has a one year low of $81.66 and a one year high of $100.15. The company has a current ratio of 2.59, a quick ratio of 2.15 and a debt-to-equity ratio of 0.49.

Medtronic (NYSE:MDT) last released its quarterly earnings results on Thursday, May 23rd. The medical technology company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.07. Medtronic had a net margin of 15.15% and a return on equity of 14.16%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that Medtronic will post 5.46 earnings per share for the current fiscal year.

In related news, Director Richard H. Anderson acquired 10,900 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $92.40 per share, with a total value of $1,007,160.00. Following the completion of the transaction, the director now owns 89,912 shares of the company’s stock, valued at $8,307,868.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Geoffrey Martha sold 11,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $96.05, for a total transaction of $1,056,550.00. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mosaic Family Wealth LLC raised its position in Medtronic by 2.2% in the first quarter. Mosaic Family Wealth LLC now owns 5,348 shares of the medical technology company’s stock worth $487,000 after purchasing an additional 117 shares in the last quarter. Hanson McClain Inc. increased its holdings in shares of Medtronic by 1.7% during the fourth quarter. Hanson McClain Inc. now owns 7,321 shares of the medical technology company’s stock worth $666,000 after buying an additional 125 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Medtronic by 3.1% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,129 shares of the medical technology company’s stock worth $376,000 after buying an additional 126 shares in the last quarter. IBM Retirement Fund increased its holdings in shares of Medtronic by 0.5% during the first quarter. IBM Retirement Fund now owns 23,187 shares of the medical technology company’s stock worth $2,112,000 after buying an additional 126 shares in the last quarter. Finally, Abbrea Capital LLC increased its holdings in shares of Medtronic by 3.0% during the fourth quarter. Abbrea Capital LLC now owns 4,384 shares of the medical technology company’s stock worth $401,000 after buying an additional 128 shares in the last quarter. 80.10% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Medtronic (NYSE:MDT)

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