Medtronic PLC (MDT) Stock Rating Lowered by BidaskClub

Medtronic PLC (NYSE:MDT) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Monday, July 24th.

Several other analysts also recently commented on MDT. Needham & Company LLC reissued a “buy” rating and set a $91.00 price objective on shares of Medtronic PLC in a research report on Monday, March 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price target on shares of Medtronic PLC in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Medtronic PLC in a report on Tuesday, April 18th. Evercore ISI raised their price target on shares of Medtronic PLC from $88.00 to $88.50 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Finally, Northland Securities reaffirmed a “hold” rating and set a $80.00 price target on shares of Medtronic PLC in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $89.84.

Medtronic PLC (NYSE:MDT) opened at 83.41 on Monday. The stock has a 50 day moving average of $85.48 and a 200-day moving average of $83.22. Medtronic PLC has a 1-year low of $69.35 and a 1-year high of $89.72. The company has a market cap of $113.36 billion, a PE ratio of 28.86 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.02. Medtronic PLC had a net margin of 13.56% and a return on equity of 12.72%. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the prior year, the firm posted $1.27 EPS. Medtronic PLC’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Medtronic PLC will post $4.80 earnings per share for the current year.

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In other Medtronic PLC news, EVP Bryan C. Hanson sold 12,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $88.57, for a total value of $1,062,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard H. Anderson bought 5,600 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was bought 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 directly owns 71,910 shares in the company, valued at $6,392,799. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its stake in Medtronic PLC by 22.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,146 shares of the medical technology company’s stock worth $102,000 after buying an additional 210 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Medtronic PLC during the second quarter valued at $103,000. Motco raised its stake in shares of Medtronic PLC by 8.7% in the second quarter. Motco now owns 1,239 shares of the medical technology company’s stock valued at $110,000 after buying an additional 99 shares during the period. Farmers National Bank purchased a new position in Medtronic PLC during the first quarter valued at approximately $121,000. Finally, Norway Savings Bank raised its position 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. 83.54% of the stock is currently 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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