A number of other research analysts also recently issued reports on MDT. BTIG Research restated a neutral rating on shares of Medtronic PLC in a research report on Monday, March 20th. Oppenheimer Holdings, Inc. restated a buy rating on shares of Medtronic PLC in a research report on Wednesday, March 22nd. Needham & Company LLC restated a buy rating and set a $91.00 target price on shares of Medtronic PLC in a research report on Monday, March 27th. Royal Bank Of Canada restated a buy rating and set a $85.00 target price on shares of Medtronic PLC in a research report on Tuesday, April 18th. Finally, Evercore ISI boosted their target price on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an outperform rating in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Medtronic PLC has an average rating of Buy and a consensus price target of $89.16.
Shares of Medtronic PLC (NYSE:MDT) traded down 2.83% during trading on Wednesday, reaching $86.06. The company had a trading volume of 9,510,511 shares. The stock has a market capitalization of $116.96 billion, a price-to-earnings ratio of 29.78 and a beta of 1.03. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company’s 50 day moving average is $86.21 and its 200-day moving average is $80.30.
Medtronic PLC (NYSE:MDT) last posted its earnings results on Thursday, May 25th. The medical technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.02. The company had revenue of $7.92 billion during the quarter, compared to the consensus estimate of $7.86 billion. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.27 earnings per share. On average, equities research analysts anticipate that Medtronic PLC will post $4.95 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, July 5th. This is a boost from Medtronic PLC’s previous quarterly dividend of $0.43. Medtronic PLC’s dividend payout ratio is currently 63.67%.
In other Medtronic PLC news, Director Richard H. Anderson acquired 5,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was bought at an average price of $88.90 per share, with a total value of $497,840.00. Following the purchase, the director now owns 71,910 shares in the company, valued at $6,392,799. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Israel Discount Bank of New York acquired a new stake in shares of Medtronic PLC during the first quarter valued at about $117,000. Birch Hill Investment Advisors LLC purchased a new stake in Medtronic PLC during the first quarter valued at $120,000. Farmers National Bank purchased a new stake in Medtronic PLC during the first quarter valued at $121,000. Norway Savings Bank boosted its stake in Medtronic PLC by 2.7% in the second quarter. Norway Savings Bank now owns 1,427 shares of the medical technology company’s stock valued at $127,000 after buying an additional 38 shares during the period. Finally, Intellectus Partners LLC purchased a new stake in Medtronic PLC during the fourth quarter valued at $130,000. 83.11% of the stock is owned by institutional investors.
About Medtronic PLC
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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