Medtronic PLC (NYSE:MDT)‘s stock had its “outperform” rating restated by investment analysts at Wells Fargo & Company in a report issued on Wednesday, July 12th.
MDT has been the subject of several other reports. Morgan Stanley boosted their price objective on Medtronic PLC from $84.00 to $86.00 and gave the company an “equal weight” rating in a report on Tuesday, May 30th. Evercore ISI upped their target price on Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. BTIG Research reaffirmed a “neutral” rating on shares of Medtronic PLC in a report on Monday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $95.00 target price (up from $91.00) on shares of Medtronic PLC in a report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $89.84.
Shares of Medtronic PLC (MDT) opened at 83.71 on Wednesday. Medtronic PLC has a one year low of $69.35 and a one year high of $89.72. The firm’s 50-day moving average is $86.18 and its 200-day moving average is $82.87. The stock has a market capitalization of $113.76 billion, a price-to-earnings ratio of 28.97 and a beta of 1.02.
Medtronic PLC (NYSE:MDT) last announced its quarterly earnings data on Thursday, May 25th. The medical technology company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.86 billion. Medtronic PLC had a return on equity of 12.72% and a net margin of 13.56%. Medtronic PLC’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.27 earnings per share. Equities research analysts forecast that Medtronic PLC will post $4.81 EPS for the current year.
In related news, Director Richard H. Anderson purchased 5,600 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $88.90 per share, with a total value of $497,840.00. Following the completion of the purchase, the director now owns 71,910 shares of the company’s stock, valued at approximately $6,392,799. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bryan C. Hanson sold 12,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total transaction of $1,062,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. increased its position in Medtronic PLC by 0.3% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 2,920 shares of the medical technology company’s stock worth $235,000 after buying an additional 9 shares during the period. Hudock Capital Group LLC increased its position in Medtronic PLC by 0.5% in the second quarter. Hudock Capital Group LLC now owns 2,195 shares of the medical technology company’s stock valued at $194,000 after buying an additional 11 shares during the last quarter. Delta Asset Management LLC TN increased its position in Medtronic PLC by 0.4% in the first quarter. Delta Asset Management LLC TN now owns 3,713 shares of the medical technology company’s stock valued at $299,000 after buying an additional 13 shares during the last quarter. Bollard Group LLC increased its position in Medtronic PLC by 0.4% in the first quarter. Bollard Group LLC now owns 3,637 shares of the medical technology company’s stock valued at $293,000 after buying an additional 14 shares during the last quarter. Finally, Triangle Securities Wealth Management increased its position in Medtronic PLC by 0.3% in the second quarter. Triangle Securities Wealth Management now owns 4,396 shares of the medical technology company’s stock valued at $390,000 after buying an additional 15 shares during the last quarter. 83.36% of the stock is currently owned by institutional investors and hedge funds.
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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